Change of Custodian under Uralkali GDR Programme

July 12, 2011

Change of Custodian under Uralkali GDR Programme

JSC Uralkali (LSE: URKA), one of the world's largest potash producers, announces that, with effect from 8 July 2011, OJSC VTB Bank ("VTB Bank") has replaced ING Bank (Eurasia) as custodian under Uralkali's global depositary receipt ("GDR") programme with The Bank of New York Mellon.

The change of the custodian was made in connection with certain requirements of the Russian Federal Service for Financial Markets ("FSFM") in order for Uralkali to be able to apply to the FSFM for increase of its GDR programme limit from current 19.9 % up to 25 % of Uralkali issued share capital.

Uralkali welcomes this appointment of VTB Bank by The Bank of New York Mellon and will enter into an amendment agreement to the deposit agreement as of 15 August 2006 between Uralkali and The Bank of New York Mellon to reflect this appointment.

Enquiries:

Investor Relations

Anna Batarina, CFAHead of Investor Relations and Capital Markets, UralkaliTel.: +7 (495) 730 2371E-mail: [email protected]

Media Relations

Alexey Sotskov

Head of Public Relations, Uralkali

Tel.: +7 (495) 730 2371

E-mail: [email protected]

Brian Cattell / James Devas

Maitland Communications

Tel: +44 (20) 7379 5151

E-mail: [email protected] 

This announcement is not intended to, and does not constitute, or form part of, an offer to sell or an invitation to purchase, exchange or subscribe for any securities in any jurisdiction. This announcement does not constitute a prospectus or a prospectus equivalent document.

The release, publication or distribution of this announcement in jurisdictions other than the United Kingdom may be restricted by law and therefore any persons who are subject to the laws of any jurisdiction other than the United Kingdom should inform themselves about, and observe, any applicable requirements. This announcement has been prepared for the purposes of complying with English law and the information disclosed may not be the same as that which would have been disclosed if this announcement had been prepared in accordance with the laws and regulations of any jurisdiction outside of England.