PhosAgro Board Apprvs Launch of New Shr Issue, Issue Prc

OJSC PHOSAGRO - PhosAgro Board Apprvs Launch of New Shr Issue, Issue Prc

PR Newswire

London, April 10

PhosAgro Board Approves Launch of New Share Issueand Sets Issue Price

Moscow - PhosAgro (Moscow Exchange, LSE: PHOR), a leading global verticallyintegrated phosphate-based fertilizer producer, announces that its Board ofDirectors on 9 April 2013 approved the price of USD 42 per share for theCompany's additional share issue.

The approved price for the newly-issued shares corresponds to the offer pricefor 11,111,000 existing shares sold by a group of the Company's shareholdersthat preceded the beginning of PhosAgro's new share issue.

The newly-issued shares may be paid for in Russian Roubles or US Dollars by wayof bank transfer. For payments in Russian Roubles, the exchange rate set by theCentral Bank of the Russian Federation on 9 April 2013 shall be used.

PhosAgro CEO Maxim Volkov has approved 10 April 2012 as the start date of thenew share issue.

PhosAgro's Board of Directors on 19 October 2012 approved a share issuanceprospectus and a capital increase. Both the capital increase and the shareissuance prospectus were registered by the FSFM on 15 November 2012.

For further information please contact:

OJSC PhosAgro

+7 495 231 2747

Irina Evstigneeva, Head of Corporate Finance and Investor Relations

PhosAgro is a leading global vertically integrated phosphate-based fertiliserproducer. The Group focuses on the production of phosphate-based fertilisers,feed phosphate and high-grade phosphate rock (with P2O5 content of not lessthan 39 percent), as well as ammonia and nitrogen-based fertilisers.

The Group is the largest phosphate-based fertiliser producer in Europe, thelargest producer of high-grade phosphate rock worldwide and the second largestMAP/DAP producer in the world (excluding China), according to Fertecon.PhosAgro is also a leading producer of MCP feed phosphates in Europe, and theonly producer in Russia.

PhosAgro has 2.1 billion tonnes of resources (according to JORC) of highquality apatite-nepheline ore, representing over 75 years of production. TheGroup also controls substantial Al2O3 resources and has 41% of Russia's rareearth oxides resources according to the G.P. Luzin Institute of EconomicProblems of the Kolskiy Scientific Centre of the Russian Academy of Sciences,2010).

The Group's mines and phosphate rock production facilities are located in themountainous areas of the Kola Peninsula in the Murmansk region of northwestRussia, whereas its fertiliser and feed phosphate production assets are locatednear the city of Cherepovets in the Vologda region and near the city ofBalakovo in the Saratov region of southwest part of European Russia. PhosAgro's2011 IFRS revenue was over USD 3.4 bln and EBITDA was USD 1.2 bln. The Сompany's net debt/EBITDA ratio was 0.43 at 31 December 2011.

For further information on PhosAgro please visit: www.PhosAgro.com