Mr. Barry Rosenstein of Jana reports

JANA PARTNERS RELEASES NEW VIDEO FOR AGRIUM SHAREHOLDERS

Agrium Inc. dissident Jana Partners today posted a new video presentation on its website in which all five of its director nominees address the substantial opportunity to unlock unrealized value for all shareholders of Agrium.

"We encourage every Agrium shareholder to hear our nominees walk through the value-creation potential they see at Agrium and describe how they can apply their skills and experience to help realize that value," said Jana Partners managing partner Barry Rosenstein.

Board nominees David Bullock, Mitchell Jacobson and Stephen Clark have created billions of dollars of value at distribution companies that Agrium has cited as peers for its retail business, while board nominee Lyle Vanclief served Canada as the Minister of Agriculture and ran a commercial farm before that and can help bring the voice of Agrium's farmer customers into the boardroom. Board nominee Barry Rosenstein is the founder and managing partner of Jana Partners and has a long record of working to unlock value at companies, typically by working constructively with boards and management.

In the new video presentation, the nominees discuss the following areas of opportunity at Agrium, referred to as the five Cs:

Cost management:  Reviewing retail costs and corporate costs

Controls:  Improving disclosure and better aligning incentives with value creation

Capital allocation:  Enacting a more consistent and shareholder-friendly capital return policy

Conglomerate structure:  Conducting a fair and unbiased structural review to address Agrium's persistent valuation discount

Corporate governance:  Addressing Agrium's insular and entrenched responses to new ideas

More information, including full biographies of Jana's independent nominees, can be found at the Jana website.