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OJSC PHOSAGRO: PhosAgro Announces Completion of SPO


For Immediate Release 22 April 2013

PhosAgro Announces Completion of SPO

Moscow - PhosAgro (Moscow Exchange, LSE: PHOR), a leading global vertically integrated phosphate-based fertilizer producer, announces the completion of all payments and transfers as part of the offering of existing shares in the form of shares and GDRs by a group of the Company's shareholders (the "Offering") that was announced 8 April 2013.

The existing shares were sold by the Cyprus-registered companies Adorabella Limited and Chlodwig Enterprises Limited.

The Offer price was USD 42.00 per ordinary share, which was equivalent to USD 14.00 per GDR. In total 11,111,000 existing shares were sold for the amount of USD 466,662 thousand.

In accordance with the conditions of the Offering, 79.65% of PhosAgro's shares are subject to a lock-up period (deed of lock-up) from 12 April 2013 to 31 December 2013, and remaining 20.35% shares make up the Company's free float.

BofA Merrill Lynch, Citigroup, Credit Suisse, Raiffeisen Bank International, Renaissance Capital, Sberbank CIB, and VTB Capital acted as Joint Global Coordinators and Joint Bookrunners for the Offering.

For further information please contact:

OJSC PhosAgro +7 495 231 2747 Irina Evstigneeva, Head of Corporate Finance and Investor Relations Timur Belov, Press Officer

M:Communications Sam VanDerlip vanderlip@mcomgroup.com +44 (0) 20 7920 2356

Notes 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 (with P2O5 content of not less than 39 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 second 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 according to the G.P. Luzin Institute of Economic Problems of the Kolskiy Scientific Centre of the Russian Academy of Sciences, 2010).

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. PhosAgro's 2011 IFRS revenue was over 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

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END

-0- Apr/22/2013 07:41 GMT

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