MHR Announces Acquisition of Common Shares of VITERRA INC.



    NEW YORK, Oct. 23 /CNW/ - On October 23, 2008, MHR Institutional
Partners III LP acquired beneficial ownership of 750,000 common shares
("Common Shares") at CDN $6.95 per Common Share in the capital of Viterra Inc.
("Viterra") (trading symbol "VT" on the Toronto Stock Exchange ("TSX"))
through the facilities of the TSX, representing 0.32% of the issued and
outstanding Common Shares. As a result, investment funds affiliated with MHR
Fund Management LLC ("MHR") now collectively hold 30,190,200 Common Shares,
representing approximately 12.74% of the issued and outstanding Common Shares.
MHR effected the acquisition of Common Shares for investment purposes.





For further information:

For further information: or to obtain a copy of the report required
pursuant to the early warning reporting requirements, please contact: MHR Fund
Management LLC, 40 West 57th Street, 24th Floor, New York, New York 10019,
USA, Attention: Arlene Mizrahi, Phone: (212) 262-0005

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MHR FUND MANAGEMENT LLC

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MHR INSTITUTIONAL PARTNERS III LP

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