PhosChem Announces Increased Volume to Existing DAP Contract With Indian Customers

LINCOLNSHIRE, Ill., July 20  /PRNewswire/ -- Phosphate Chemicals Export Association, Inc. (PhosChem) announced today an increase in volume to its existing diammonium phosphate (DAP) supply contract with its Indian customers. The volume will be increased by up to 500,000 tonnes from the initial 1.25 million tonnes agreed to earlier this year.  Under the terms of the original contract, the price will be indexed to market pricing.  Shipments for the increased tonnage will occur between August and October 2009.

"This sale demonstrates that demand is rebounding in global markets," said Steve Paxton, President of PhosChem.  "This agreement also underscores PhosChem's commitment and strong relationship with the leaders of the Indian fertilizer industry and support for our Indian customers."

About PhosChem

PhosChem was founded in 1974 in accordance with the provisions of the Webb-Pomerene Act and is the export marketing association for its members.  The Act was created to promote U.S. exports.  PhosChem is the largest exporter of concentrated phosphate from North America.  Its member companies include Mosaic Crop Nutrition, LLC, a wholly-owned subsidiary of The Mosaic Company (NYSE:MOS), and PCS Sales (USA), Inc., an indirect, wholly-owned subsidiary of Potash Corporation of Saskatchewan Inc. (TSE and NYSE: POT).

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about future operations. Such statements are based upon the current beliefs and expectations of management of PhosChem and its members and are subject to significant risks and uncertainties. These risks and uncertainties include but are not limited to the predictability and volatility of, and customer expectations about, agriculture, fertilizer, raw material, energy and transportation markets that are subject to competitive and other pressures and the effects of the current economic and financial turmoil; international trade risks; changes in government policy; changes in environmental and other governmental regulation; adverse weather conditions affecting operations of PhosChem's members, including potential hurricanes or excess rainfall; actual costs of asset retirement, environmental remediation, reclamation or other environmental regulation differing from management's current estimates; accidents and other disruptions involving PhosChem's members'  operations, including potential releases of hazardous or volatile chemicals, as well as other risks and uncertainties reported from time to time in the respective reports of PhosChem's members filed with the Securities and Exchange Commission. Actual results may differ from those set forth in the forward-looking statements. 

http://www.newscom.com/cgi-bin/prnh/20060331/MOSAICLOGODATASOURCE: PhosChem



CONTACT:  Christine Battist, The Mosaic Company, [phone],

, or Denita Stann, PotashCorp, [phone],

, both for PhosChem

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