Phosphate Resource Partners Limited Partnership to Make No Cash Distribution for the Quarter Ended March 31, 2004

Phosphate Resource Partners Limited Partnership to Make No Cash
Distribution for the Quarter Ended March 31, 2004 


LAKE FOREST, Ill., May 4  /PRNewswire-FirstCall/ -- Phosphate Resource Partners
Limited Partnership  today announced that it will not make a cash distribution
for the quarter ended March 31, 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
phosplp.com .

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


                                                              Quarter ended
                                                             March 31, 2004

  Loss                                                               $(14.6)

  PLP's share of IMC Phosphates Company's gain                         (1.4)

  PLP's share of IMC Phosphates Company's first quarter cash
   distribution                                                         2.2

           Adjusted loss                                              (13.8)

  Other adjustments:
         Interest accrual, net of payments                             (2.8)
         All other                                                      5.3

  Total available distributable cash                                 $(11.3)


  Distributable cash per unit                                        $  -


  Units outstanding                                                   103.5


DATASOURCE: IMC Global Inc.



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

[phone],  



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

http://www.imcglobal.com/ 

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