Mr. Richard Downey reports

VICTOR ZALESCHUK APPOINTED CHAIR OF AGRIUM'S BOARD

Victor Zaleschuk, a veteran senior financial executive in the energy sector, has been appointed Agrium Inc.'s board chair, effective at the conclusion of the annual general meeting of shareholders today.

Mr. Zaleschuk, who has served as an Agrium board member since 2002, is the past president and chief executive officer of Nexen Inc. In addition to his duties at Agrium, he continues to serve on the board of Nexen and is also board chair of Cameco Corp.

Mr. Zaleschuk has a bachelor of commerce degree from the University of Saskatchewan and also holds a chartered accountant designation.

Frank Proto has served as Agrium's board chair since 1998, and will remain a member of the board. Agrium's board of directors and leadership sincerely thank Mr. Proto for all his invaluable experience, stewardship and his contribution in making Agrium one of the largest agriculture companies in the world.

We seek Safe Harbor.