Ukraine handed over 222 prisoners and the rebels released 145 people, according to Russia's state RIA Novosti news agency - the biggest one-time prisoners swap since the pro-Russian insurgency flared up in eastern Ukraine in April.
The Interfax news agency quoted Svyatoslav Tsegolko, a spokesman for Ukrainian President Petro Poroshenko, as saying that 146 Ukrainian prisoners were released Friday and four more would be freed Saturday. The figures corresponded to an earlier Ukrainian official statement, which said 150 Ukrainian prisoners were to be released.
Hundreds of others were released in previous months.
At some point during the exchange, separatist-rights ombudsman Darya Morozova was quoted by Tass news agency as saying the exchange was pushed back until Saturday.
Russia's state television showed Ukrainian war prisoners boarding buses in the main rebel stronghold of Donetsk before being driven to a location north of the city where the exchange took place.
On the site where the swap was conducted, prisoners were called up by groups of 10, with officials from both sides verifying their identities.
The exchange had been tentatively planned for earlier in the week.
On Thursday, the leader of the breakaway People's Republic of Donetsk, Alexander Zakharchenko, told reporters that no headway had been made during a Wednesday session of the negotiations in Minsk, Belarus, but that both sides had agreed to carry out a prisoner exchange Friday.
"The Minsk talks continue, but it is early to talk about any agreements," Zakharchenko was quoted as saying by Russia's Tass news agency. "The only thing I can say that we succeeded in reaching agreement on was the exchange of prisoners on the 'all-for-all' basis - 150 for 225."
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Ukraine, pro-Russia rebels trade hundreds of prisoners