PhosAgro Wins Corporate Governance Award

OJSC PHOSAGRO - PhosAgro Wins Corporate Governance Award

PR Newswire

London, December 12

PhosAgro Wins "Russian Leaders in Corporate Governance 2012" Award for BestProgress in Developing Corporate Governance

Moscow - PhosAgro (or "the Company") (Moscow Exchange, LSE: PHOR), a leadingglobal vertically integrated phosphate-based fertilizer producer, announcesthat it has been awarded for Best Progress in Developing Corporate Governancein the annual "Russian Leaders in Corporate Governance" competition.

The competition is organised by the Investor Protection Association (IPA),which was created in 2000 with the goal of uniting the investment community'sefforts to protect investors' rights and improve corporate governance inRussia. The IPA's members include Russian and international funds with over USD25 billion in portfolio investments in Russia and significant experience in thecountry.

Awards are granted for various aspects of issuers' activities, including:corporate governance, transparency, investor relations, dividends policy,protection of shareholders' and investors' rights.

Members of the IPA noted that in 2012 PhosAgro had achieved the most progressin developing corporate governance, implementing best practice in informationdisclosure and corporate governance, acting in the interests of its investorsand shareholders, as well as fulfilling promises and obligations.

The awards ceremony took place on 11 December 2012 in Moscow at the CorporateGovernance in Russia: Results of 2012 round table conference. Leading Russianand international institutional investors, government officials and Russianmarket participants all attended the event.

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OJSC PhosAgro

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