SASKATOON, SK, (Canada NewsWire via COMTEX) – Potash Corporation of Saskatchewan Inc. (PotashCorp) announced today that Canpotex Limited has signed a 2005 sales contract for 1.5 million tonnes red standard grade potash with Sinochem, China's largest potash importer. The agreement includes a 10 percent additional volume option and provides a price increase of US $40 per tonne over last year's contract price. Canpotex has also contracted for the sale of 0.3 million tonnes of white standard grade potash at a US $43 per tonne price increase over last year's contract price.

SASKATOON, SK PRNewswire-FirstCall – Potash Corporation of Saskatchewan Inc. (PotashCorp) announced today that Canpotex Limited, the offshore sales association for Saskatchewan potash producers, has further increased its 2004 forecast for offshore sales from a record 7 million tonnes to 7.5 million tonnes. This is up 1.2 million tonnes from the volumes achieved in 2003. As Canpotex believes this new demand will be sustained, PotashCorp will be bringing on another shift at its Lanigan potash facility to begin to utilize its excess capacity and to provide additional flexibility in product mix. PotashCorp currently supplies 54.2 percent of Canpotex sales. While this is expected to have a positive impact on potash earnings, the company is not updating its earnings guidance at this time and will do so when appropriate.

With improved prices in nitrogen and potash, Potash Corporation of Saskatchewan Inc. (PotashCorp) reported first-quarter earnings of $50.7 million or $0.94 per diluted share. This is $0.88 higher than last year's first-quarter earnings of $0.06 per diluted share and above the company's first-quarter earnings guidance of $0.60 to $0.80 per share. The Canadian dollar was weaker than expected compared to earnings guidance, and that, along with a slightly lower tax rate assumption, contributed approximately $0.10 per share.