Canpotex Limited Announces Sale of 1.5 Million Metric Tons of Canadian Potash To Sinochem Corporation LAKE FOREST, Ill., Dec. 11 /PRNewswire-FirstCall/ -- IMC Global Inc. announced today that Canpotex Limited (Canpotex), through its international marketing company, Canpotex International Pte. Limited, has sold 1.5 million metric tons (plus 10 percent shipping tolerance) of Canadian standard grade potash to Sinochem Corporation (Sinochem) covering 2004 calendar year sales. This contract covers the first year of the three-year Memorandum of Understanding signed August 7, 2003. Chinese Premier Wen Jiabao and Canadian Prime Minister Jean Chretien witnessed the contract signing in Ottawa this morning. Despite record ocean freight levels at this time, this contract provides an FOB Vancouver price increase over 2003 pricing comparable to the recently reported agreement between International Potash Company and China National Agricultural Means of Production Group Corp. of US$2.50 per metric ton. The total value of the contract is estimated at more than CDN$240 million. Canpotex member companies are: IMC Global (NYSE:IGL), Agrium Inc. (Agrium) (NYSE: AGU; TSX), and Potash Corporation of Saskatchewan Inc. (PotashCorp) (NYSE: POT; TSX). IMC Global supplies Canpotex with 36.67 percent of its potash product, Agrium 9.13 percent and PotashCorp 54.20 percent. Canpotex Limited of Saskatoon, Saskatchewan was established in 1970 and is the exclusive offshore marketing company for its members, the Saskatchewan potash producers. 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 . DATASOURCE: IMC Global Inc. CONTACT: Investors and Media, David A. Prichard of IMC Global Inc., +1-847-739-1810, Web site: http://www.imcglobal.com/

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