Phosphate Resource Partners Limited Partnership to Make No Cash Distribution for the Quarter Ended June 30, 2004

Phosphate Resource Partners Limited Partnership to Make No Cash
Distribution for the Quarter Ended June 30, 2004 


LAKE FOREST, Ill., July 27  /PRNewswire-FirstCall/ -- Phosphate Resource
Partners Limited Partnership (NYSE:PLP) today announced that it will not make a
cash distribution for the quarter ended June 30, 2004.

As referred to in the PLP Form 10-Ks for the years ended December 31, 2003,
December 31, 2002 and December 31, 2001, PLP anticipates that for the
foreseeable future any available cash will be used to reduce outstanding debt
with IMC Global Inc. (NYSE:IGL), the indirect 51.6 percent owner of PLP and
parent of PRP-GP LLC, the administrative managing general partner of PLP.  As a
result, no PLP cash distributions are planned in the foreseeable future.

PLP is engaged in the production and sale of phosphate crop nutrients and
animal feed ingredients.  For more information, visit the PLP Web site at
http://phosplp.com/ .

  (A Statement of Distributable Cash is attached)


                                             Statement of Distributable Cash
                                                               (in millions)
  Phosphate Resource Partners Limited Partnership                (unaudited)

                                                               Quarter ended
                                                               June 30, 2004

  Loss                                                          $    (6.1)

  PLP's share of IMC Phosphates Company's gain                       (0.9)

  PLP's share of IMC Phosphates Company's second quarter
    cash distribution                                                   -
        Adjusted loss                                                (7.0)

  Other adjustments:
      Interest accrual, net of payments                               1.1
      All other                                                      (4.1)

  Total available distributable cash                            $   (10.0)

  Distributable cash per unit                                   $       -

  Units outstanding                                                 103.5


DATASOURCE: IMC Global Inc.



CONTACT:  Investor and Media, Douglas A. Hoadley of IMC Global Inc.,

[phone],  



Web site:  http://phosplp.com/ 

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