IMC Global's Phosphate Unit Completes Sale of Port Sutton Terminal in East Tampa to Kinder Morgan

IMC Global's Phosphate Unit Completes Sale of Port Sutton Terminal in East Tampa
to Kinder Morgan 


LAKE FOREST, Ill., Dec. 23  /PRNewswire-FirstCall/ -- IMC Global Inc.  announced
today that its IMC Phosphates Company has completed the sale of its Port Sutton
marine terminal in East Tampa, Florida to a subsidiary of Kinder Morgan Energy
Partners, L.P.  for gross cash proceeds of $23.3 million.

Noting the divestiture continues a program to monetize non-core assets and
implement cost avoidance measures, IMC Global said proceeds will be applied to
reduce debt while its operating costs for using Port Sutton will be lowered.

Kinder Morgan, with expertise in managing port and shipping facilities, will
operate Port Sutton while IMC, under a long-term contract, maintains full access
to the terminal's handling and storage capabilities for its concentrated
phosphates and animal feed products.  IMC also retains a preexisting lease from
a third party for the terminal's 50,000-ton anhydrous ammonia handling
facility.

Originally owned and operated since 1965 by IMC Global's predecessor company,
International Minerals & Chemical Corporation, Port Sutton occupies 114 acres
south of the Port of Tampa and includes two ship berths, one ship loader and a
50,000-ton ammonia storage tank.

With 2002 revenues of $2.1 billion, IMC Global is the world's largest producer
and marketer of concentrated phosphates and potash crop nutrients for the
agricultural industry and a leading global provider of feed ingredients for the
animal nutrition industry.  For more information, visit IMC Global's Web site at
imcglobal.com .

(This news release contains forward-looking statements that are based on current
expectations; actual results may differ materially.  Such forward- looking
statements include statements regarding quarterly and annual results for 2003
and expectations regarding the phosphate market recovery.  These statements are
not guarantees of future performance and are subject to risks and uncertainties
that could cause actual results and Company plans and objectives to differ
materially from those expressed in the forward-looking statements.) 

DATASOURCE: IMC Global Inc.



CONTACT:  Investors and Media, David A. Prichard of IMC Global Inc.,

[phone],  



Web site:  http://www.imcglobal.com/ 

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