JANA Partners Releases New Video for Agrium Shareholders

Available at www.JanaAGUAnalysis.com

NEW YORK, NY, March 26, 2013 /CNW/ - JANA Partners today posted a new video presentation on its website, www.JanaAGUAnalysis.com, in which all five of its director nominees address the substantial opportunity to unlock unrealized value for all shareholders of Agrium Inc. ("Agrium") (TSX / NYSE: AGU).

"We encourage every Agrium shareholder to hear our nominees walk through the value creation potential they see at Agrium and describe how they can apply their skills and experience to help realize that value," said JANA Partners Managing Partner Barry Rosenstein.

Board nominees David Bullock, Mitchell Jacobson and Stephen Clark have created billions of dollars of value at distribution companies which Agrium has cited as peers for its Retail business, while board nominee Lyle Vanclief served Canada as the Minister of Agriculture and ran a commercial farm before that, and can help bring the voice of Agrium's farmer customers into the boardroom.  Board Nominee Barry Rosenstein is the founder and managing partner of JANA Partners and has a long track record of working to unlock value at companies, typically by working constructively with boards and management.

In the new video presentation, the nominees discuss the following areas of opportunity at Agrium, referred to as the "5 C's":

•  Cost Management - Reviewing Retail costs and corporate costs
• Controls - Improving disclosure and better aligning incentives with value creation
• Capital Allocation - Enacting a more consistent and shareholder-friendly capital return policy
• Conglomerate Structure - Conducting a fair and unbiased structural review to address Agrium's persistent valuation discount
• Corporate Governance - Addressing Agrium's insular and entrenched responses to new ideas

More information including full biographies of JANA's independent nominees can be found at www.JanaAGUAnalysis.com.

VOTE THE BLUE PROXY OR VIF "FOR" UNLOCKING AGRIUM'S SUBSTANTIAL VALUE CREATION POTENTIAL

SOURCE: JANA Partners

JANA Partners LLC at [phone]