OFFICIAL STATEMENT OF "BELORUSSIAN POTASH COMPANY"


Date: 28.07.2006, Information source: BELORUSSIAN POTASH COMPANY

On July 21, 2005 “Belorussian Potash Company” (BPC), the export trader for potassium fertilizers produced by “Belaruskali” and “Uralkali”, has signed an agreement with Chinese importing companies “Sinochem” and “CNAMPGC” on the supply of potassium chloride. Under the agreements that have been reached the price per tonne of potassium fertilizers supplied by BPC to those customers is US$25 higher than the price for those customers last year. The contracts will be in force until December 31, 2006.

BPC believes that the signing of the agreement is excellent news for the world potassium market and puts an end to a complex and lengthy period of negotiations that representatives of BPC have been holding with the Chinese importers since the end of last year. BPC believes that this agreement will facilitate the establishment of prices to other customers in China and also to customers in other markets. As a new joint venture, BPC is delighted to have played such a leading role in agreeing prices with these customers for company’s shareholders. BPC is pleased with the price that's been agreed and believes that it more closely reflects the higher prices that have recently prevailed in the majority of Asian markets.

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