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.

Potash Corporation of Saskatchewan Inc. (PotashCorp) announced today that Canpotex Limited (Canpotex), the offshore marketing company for Saskatchewan potash producers, and Sinofert Holdings Limited (Sinofert), a leading fertilizer enterprise in the People's Republic of China (PRC), have reached agreement on 2008 potash pricing at US $400 per tonne higher than in 2007. As previously reported, Canpotex has prorated China's 2008 volumes and, as a result of the timing of this settlement and unprecedented demand in other markets, has only 1 million tonnes that it can commit to Sinofert through the remainder of this year.