PotashCorp Raises Quarterly Guidance And Announces Increase in Canpotex Forecast

PotashCorp Raises Quarterly Guidance And Announces Increase in
Canpotex Forecast
Listed: TSX, NYSE Symbol: POT 


SASKATOON, SK, Sept. 14  /PRNewswire-FirstCall/ -- Potash Corporation of
Saskatchewan Inc. (PotashCorp) announced today that Canpotex Limited, the
offshore sales association for Saskatchewan potash producers, has once again
increased its 2004 forecast for offshore sales from a record 7.5 million tonnes
to 7.65 million tonnes. This is 1.32 million tonnes above last year's sales
volumes. In addition to this sales forecast increase, Canpotex expects to pull
a total of 7.85 million tonnes from its members in 2004 to ensure adequate
inventory levels going into 2005. PotashCorp supplies 54.2 percent of all
Canpotex sales.

In response to demand, PotashCorp will be bringing on a fourth shift at its
Allan mine by the beginning of November. This is in addition to the fourth
shift that was added at Lanigan in June of this year. These extra shifts will
add approximately 1.2 million more tonnes on an annual basis.

Business conditions are surpassing the company's original expectations for the
quarter. As a result, earnings are now expected to be between $0.65 and $0.75
per share on a post-split basis for the third quarter rather than the most
recent guidance of $0.50 to $0.60. Continuing strong potash markets and higher
than anticipated nitrogen prices are the business drivers for this increase in
earnings guidance. The company will update its annual guidance with its
third-quarter results.

"The potash markets continue to be robust, with increasing demand from Latin
America and Asia," said Bill Doyle, PotashCorp President and CEO. "With the
rest of the potash industry operating at or close to capacity, the world is
turning to us with our excess capacity. We have the unique ability to rapidly
bring up some of this capacity by adding another shift and can quickly respond
to the growing demands of the tight global potash market."

Potash Corporation of Saskatchewan Inc. is the world's largest fertilizer
enterprise producing the three primary plant nutrients and a leading supplier
to three distinct market categories: agriculture, with the largest capacity in
the world in potash, fourth largest in phosphate and third largest in nitrogen;
animal nutrition, with the world's largest capacity in phosphate feed
ingredients; and industrial chemicals, as the largest global producer of
industrial nitrogen products and one of only three North American suppliers of
industrial phosphates.

This release contains forward-looking statements, which involve risks and
uncertainties, including those referred to in the company's annual report to
shareholders for 2003 and in filings with the U.S. Securities and Exchange
Commission. A number of factors could cause actual results to differ materially
from those in the forward-looking statements, including, but not limited to,
fluctuation in supply and demand in fertilizer, sulfur and petrochemical
markets; changes in competitive pressures, including pricing pressures; risks
associated with natural gas and other hedging activities; changes in capital
markets; changes in currency and exchange rates; unexpected geological or
environmental conditions; and government policy changes. 

DATASOURCE: Potash Corporation of Saskatchewan Inc.



CONTACT: Betty-Ann Heggie, Senior Vice President, Corporate Relations,

Phone: [phone], Fax: [phone], E-mail:

, Web Site: http://www.potashcorp.com/

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