Canpotex Announces New Sale to China

SASKATOON, Feb. 8 /CNW/ - Canpotex has reached an agreement with Sinofert on a spot sale of approximately 350, 000 MT of Canadian potash at competitive prices. This product is to be shipped to China before the end of March 2010 . As a result of this latest spot sale, Canpotex is now fully committed on sales through the first quarter of 2010 and will announce plans with respect to second-quarter pricing early in March, after thoroughly reviewing the changing and much-improved overseas potash market conditions.

Canpotex is the offshore marketing company owned by the three Saskatchewan potash producing companies: Agrium Inc. (TSX and NYSE: AGU), Mosaic Canada Crop Nutrition, LP, a subsidiary of The Mosaic Company (NYSE: MOS), and Potash Corporation of Saskatchewan Inc. (TSX and NYSE: POT).

Agrium supplies Canpotex with 9.28% of its potash product, Mosaic 37.11%, and PotashCorp 53.61%.

For further information: Richard Downey, Senior Director, Investor Relations, Agrium Inc., Tel: [phone], [email protected]; Christine Battist, Director, Investor Relations, The Mosaic Company, Tel: [phone], [email protected]; Denita Stann, Director, Investor Relations, Potash Corporation of Saskatchewan Inc., Tel: [phone], [email protected]