Potash Corporation of Saskatchewan Inc. (PotashCorp) announced that it today purchased for cancellation 2,950,000 of its common shares outstanding pursuant to private agreement between the company and an arm's-length third-party seller. This purchase brings the cumulative total number of shares purchased under PotashCorp's 31.5 million share repurchase program – announced in January 2008 and expanded in September 2008 – to 22.85 million shares.

Reflecting the current softness in demand for crop nutrients as a result of widespread uncertainty in the global economy, Potash Corporation of Saskatchewan Inc. (PotashCorp) today announced the downward revision of full-year 2008 earnings guidance to approximately $10.75 per share1, which is 10 percent below the midpoint of our last indicated guidance range. Fourth-quarter earnings are expected to be the third-highest in our history (behind only the second and third quarter 2008) and full-year 2008 earnings will be our fifth consecutive record year and should be more than triple the $3.40 per share earned in 2007. This revision was precipitated by weaker fourth-quarter sales volumes in all three nutrients, lower potash volumes to higher netback spot markets and lower prices and margins in our nitrogen and phosphate segments. These impacts have been partially offset by a 1 percent reduction in our consolidated reported corporate income tax rate.

Saskatoon, Saskatchewan — PotashCorp continues to receive the respect of the corporate reporting community in Canada, with three awards of excellence in the 2008 CICA Corporate Reporting Awards from the Canadian Institute of Chartered Accountants.

The already substantial economic benefit PotashCorp brings to Saskatchewan is growing signficantly through $4.8 billion the company is spending on expansion and debottlenecking projects in the province. This economic boost will continue well beyond the construction phase ending in 2012 and deliver positive impacts right up to the end of the operational life of the mines. PotashCorp currently employs about 1,600 people in Saskatchewan with an estimated 2008 payroll of $160 million. It is expecting to contribute approximately $850 million to the province this year in royalties and taxes – that's close to 10 percent of the provincial budget. In 2007, PotashCorp made philanthropic contributions of approximately $3.5 million, most of which was distributed here in Saskatchewan. According to an economic impact study undertaken for PotashCorp by SJ Research Services of Regina, the projects at the Rocanville, Allan, Lanigan, Cory and Patience Lake operations are expected to generate:

Potash Corporation of Saskatchewan Inc. (PotashCorp) today announced that employees represented by United Steelworkers' (USW) Local 7689 at Allan, USW Local 7458 at Cory and USW Local 189 at Patience Lake, voted to ratify collective agreements tentatively agreed upon on November 7. The three-year agreements are retroactive to May 1, 2008.

Potash Corporation of Saskatchewan Inc. announced today that its Board of Directors has declared a quarterly dividend of US $0.10 per share payable February 10, 2009 to shareholders of record January 20, 2009.

Potash Corporation of Saskatchewan Inc. (PotashCorp) is pleased to announce today that it has reached tentative labor agreements with approximately 500 unionized employees at its Allan, Cory and Patience Lake potash operations. These employees, represented by United Steelworkers' (USW) Local 7689 at Allan, USW Local 7458 at Cory and USW Local 189 at Patience Lake, will vote to ratify the agreements on November 13, 2008.

Potash Corporation of Saskatchewan Inc. (PotashCorp) is tied for first among 180 companies listed on the S&P/TSX index in the Globe and Mail's annual Board Games survey of corporate governance. PotashCorp scored 98 of a possible 100 points – tied with Gildan Activewear Inc., a Montreal-based clothing manufacturer – in a survey that ranks how well boards of directors are meeting best practices benchmarks for governance. A miscalculation that showed PotashCorp in a tie for second place was corrected in the online version of the results. The Globe's study looked at governance practices in four key areas: board composition, compensation, shareholder rights and disclosure. PotashCorp scored perfect marks in the compensation category, where the study looked at issues ranging from share ownership by directors (top marks were awarded where directors own shares of a value at least three times their annual retainer) to disclosure of the top management team's compensation as a percentage of total profit or total shareholder return for the year. PotashCorp registered a perfect score in the shareholder rights category, as well. Full marks went to companies that, for instance, allowed shareholders to vote for individual directors rather than a slate of contenders, and to corporations that do not have dual-class shares. The company earned full marks in the disclosure category for policies that include publishing detailed director biographies, as well as the total cash value of compensation paid to each. In the board composition category, PotashCorp lost one point for not having at least one third of its board comprised of women – only four of the 180 companies met this measure – and another point because independent directors meet without management only at regular board meetings, not at every board meeting. While the Globe survey is an annual affair, authors note year-to-year results are not directly comparable because the scoring system has been adjusted over the years to reflect evolving best practices.

In a new twist on the old story about teaching a man to fish, PotashCorp is helping youngsters learn to farm.The Saskatchewan-based fertilizer company recently contributed $50,000 to Friends of the World Food Program (Friends of WFP), a non-profit organization that supports the United Nation’s World Food Program and other hunger relief efforts. The donation was part of a matched funding arrangement with The Fertilizer Institute (TFI), that will see Friends of WFP receive a total of $200,000 for use in a program that teaches children orphaned and impoverished by HIV/AIDS how to grow their own food. “More than 850 million people remain hungry or malnourished and skyrocketing food and fuel costs are threatening to push this number up to over one billion,” said Friends of WFP President and CEO Karen Sendelback. “This donation from TFI on behalf of the fertilizer industry, including generous matching donations from Agrium, PotashCorp and Terra Industries, will help the World Food Program teach children critical skills to break the cycle of hunger and poverty.”PotashCorp’s donation will help fund Junior Farmer Field and Life Schools (JFFLS), a “groundbreaking” program aimed at securing the long-term nutritional needs and livelihoods of the orphaned youngsters, aged 12 to 18. JFFLS projects teach kids the latest techniques for growing their own food crops and also help them adapt to their unfortunate circumstances. Participating youngsters are carefully selected by people in their communities and learn both traditional and modern farming skills, including crop diversification and environmental protection.“Helping farmers feed a hungry world is an effort in which success comes slowly,” said PotashCorp Public Relations Manager Rhonda Speiss. “Our contribution to Friends of the World Food Program can help these young people grow their own food today and give them the skills to earn a living tomorrow.”WFP is the world’s largest humanitarian agency and the United Nations’ primary organization for dealing with urgent hunger needs. In 2008, WFP expects to provide food assistance to approximately 90 million people in 80 countries.

Potash Corporation of Saskatchewan Inc. (PotashCorp) today reported 2008 third-quarter earnings of $3.93 per share1 ($1.24 billion), a five-fold increase over the $0.75 per share ($243.1 million) earned in the same period last year. This exceeded the $3.40 per share ($1.1 billion) earned in the full-year 2007. Fueled by significantly higher prices for all our potash, nitrogen and phosphate products, gross margin for the third quarter grew to a record $1.7 billion, up from $475.1 million in the third quarter of 2007. Year-to-date earnings reached $8.45 per share ($2.7 billion) and gross margin grew to $4.0 billion, substantially ahead of the $2.25 per share ($726.8 million) and $1.3 billion in gross margin in last year's first nine months.