PhosAgro Board Reappoints Sven Ombudstvedt as Chairman

14 Jun 2012 07:03

For Immediate Release 14 June 2012

PhosAgro Board Reappoints Sven Ombudstvedt as Chairman

Moscow - PhosAgro ("PhosAgro" or "the Company") , a leading global vertically integrated phosphate-based fertiliser producer, announces that its Board of Directors today re-elected Sven Ombudstvedt (an Independent Director) as the Chairman of the Board. Today's meeting was the first Board meeting following the Company's AGM on 29 May 2012 at which the Directors were elected.

Sven Ombudstvedt was first appointed Chairman of the PhosAgro Board of Directors in May 2011, and has held leadership roles in a number of large international companies, including Yara ASA. He is currently the president and CEO of Norske Skogindustrier ASA (one of the world's largest paper producers), and a member of the Boards of Directors of the European concern Saferoad AS and the Norwegian shipping company Western Bulk.

The Board today also appointed members to its committees and elected committee chairmen: Vladimir Litvinenko was re-elected as the chairman of the Strategy Committee, Marcus Rhodes was appointed the chairman of the Audit Committee, Ivan Rodionov will be chairman of the Remuneration and Human Resources Committee, and Igor Antoshin will be chairman of the Environmental, Health and Safety Committee.

For further information please contact:

OJSC PhosAgro

+7 495 231 2747Irina Evstigneeva, Head of Corporate Finance and Investor RelationsTimur Belov, Press OfficerM:CommunicationsSam VanDerlipvanderlip@mcomgroup.com+7 495 363 2845Notes 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. The Group is 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 2011 IFRS revenue was USD 3.4 bln and EBITDA was USD 1.2 bln. The С ompany's net debt/EBITDA ratio was 0.43 at 31 December 2011.

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