PhosAgro Appoints Alexander Sharabaika as CFO

24 Jan 2012 09:30

For Immediate Release 24 January 2012

PhosAgro Appoints Alexander Sharabaika as CFO

Moscow - PhosAgro ("the Company"), a leading global vertically integrated phosphate-based fertilizer producer, announces the appointment of Alexander Sharabaika to the position of CFO of PhosAgro AG.

Roman Osipov, who previously held this position, has been named deputy CEO for business development of PhosAgro AG and will focus on implementation of the Company's strategic projects.

Prior to joining PhosAgro, Alexander Sharabaika worked as head of Corporate Finance at Uralkali, where his responsibilities included regular participation in the company's investor relations activities. Prior to the merger of Uralkali and Silvinit, Alexander was the CFO and a consultant to the Supervisory Board of Silvinit. From 2005 to 2010, he worked first as Head of Corporate Finance and then as CFO of Mineral Group. Alexander began his career in Belaruskali in 1998, and from 2003 to 2005 he was the deputy head of the Investment Department at Silvinit. He received a Bachelors of Economics with honours from the Belorussian Economic University, and completed an MBA in Finance from Nottingham University Business School.

PhosAgro CEO Maxim Volkov said: "We have ambitious goals aimed at developing PhosAgro and increasing value for our shareholders, and we are confident that Alexander Sharabaika's excellent qualifications, combined with his years of experience in the mineral fertilizer industry, will help him make a strong contribution to achieving these goals. We also plan for Alexander to take an active role in PhosAgro's investor relations activities.

"We highly value Roman Osipov's contribution to PhosAgro's growth, including his participation in the preparation and execution of our successful IPO on the LSE in 2011. Roman played an important role in a number of projects aimed at supporting PhosAgro's growth and compliance with international best practice. We believe that his appointment to the position of deputy CEO for business development will continue to support PhosAgro shareholder value."

For further information please contact:

OJSC "PhosAgro"

+7 495 231 2747

Irina Evstigneeva, Head of Corporate Finance and Investor Relations

Timur Belov, Press OfficerM:CommunicationsUKStuart Leasor+ 44 20 7920 2317RussiaSam VanDerlip+7 495 663 8005Notes to Editors

PhosAgro is a leading global vertically integrated phosphate-based fertiliser producer. The Group focuses on the production of phosphate-based fertilisers, feed phosphate and high-grade phosphate rock (P2O5 content of not less than 35.7 percent), as well as ammonia and nitrogen-based fertilisers. In 2010, the Group was the largest phosphate-based fertiliser producer in Europe, the largest producer of high-grade phosphate rock worldwide and the third largest MAP/DAP producer in the world (excluding China), according to Fertecon. PhosAgro is also a leading producer of MCP feed phosphates in Europe, and the only producer in Russia.

PhosAgro has 2.1 billion tonnes of resources (according to JORC) of high quality apatite-nepheline ore, representing over 75 years of production. The Group also controls substantial Al2O3 resources, and has 41% of Russia's rare earth oxides resources.

The Group's mines and phosphate rock production facilities are located in the mountainous areas of the Kola Peninsula in the Murmansk region of northwest Russia, whereas its fertiliser and feed phosphate production assets are located near the city of Cherepovets in the Vologda region and near the city of Balakovo in the Saratov region of southwest part of European Russia. The Group is the only global vertically integrated fertilizer producer that derives approximately 90% of its consolidated gross profit from the phosphates segment. PhosAgro's 1H 2011 IFRS revenue was $1.7 bln and EBITDA was $620 mln. The С ompany's net debt/EBITDA ratio was 0.6 at 30 June 2011.

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