Mosaic and Investment Saskatchewan Announce They Are Seeking a Buyer for Saskferco Products Inc.

    PLYMOUTH, Minn., June 20 /CNW/ -- The Mosaic Company (NYSE:   MOS) and
Investment Saskatchewan today announced they are seeking a buyer for Saskferco
Products Inc. (Saskferco).
    "Saskferco is an excellent company and will have an exciting future under
new ownership," said Jim Prokopanko, President and Chief Executive Officer of
Mosaic.  "The sale of Saskferco will allow us to focus on our core businesses
of potash and phosphates and to fund the planned expansions of our
Saskatchewan potash mines and other non-U.S. assets.  We remain fully
committed to Saskatchewan and are aggressively pursuing our 5.1 million tonne
potash capacity expansion initiative in the province over the next 12 years."
    "Saskferco is a strong company that is well positioned for the future,"
said Minister Lyle Stewart, the Minister Responsible for Investment
Saskatchewan.  "Provided that a fair value can be obtained, there is no longer
any reason for the government to retain its minority ownership position.  We
expect Saskferco to continue as a vibrant and successful private company in
our provincial economy."
    There can be no certainty a sale of Saskferco will result from this
process.  Further announcements will be made as events warrant.
    About The Mosaic Company
    The Mosaic Company is one of the world's leading producers and marketers
of concentrated phosphate and potash crop nutrients.  Mosaic is a single
source provider of phosphates and potash fertilizers and feed ingredients for
the global agriculture industry.  More information on the company is available
    About Investment Saskatchewan
    Investment Saskatchewan is a Saskatchewan Crown corporation that has a
mandate to enhance economic growth and diversification through the provision
of investment capital and financing and to ensure prudent management of
commercially viable investments.
    About Saskferco
    Saskferco Products Inc. is one of North America's leading producers of
nitrogen fertilizer.  With a production facility in Belle Plaine,
Saskatchewan, Saskferco is a private company primarily owned by The Mosaic
Company and Investment Saskatchewan.
    This press release contains forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995.  Such statements
include, but are not limited to, statements about the ability to sell
Saskferco and the desirability and effect thereof as well as Mosaic's
strategic priorities and future plans.  Such statements are based upon the
current beliefs and expectations of The Mosaic Company's management and
Investment Saskatchewan and are subject to significant risks and
uncertainties.  These risks and uncertainties include but are not limited to
the predictability of fertilizer, raw material and energy markets subject to
competitive market pressures; changes in foreign currency and exchange rates;
international trade risks; changes in governmental policy; changes in
environmental and other governmental regulation; adverse weather conditions
affecting Mosaic's operations in central Florida or the Gulf Coast of the
United States, including potential hurricanes or excess rainfall; actual costs
of asset retirement, environmental remediation and reclamation differing from
management's current estimates; accidents involving Mosaic's or Saskferco's
operations, including brine inflows at Mosaic's Esterhazy, Saskatchewan potash
mine and other potential mine fires, floods, explosions or releases of
hazardous or volatile chemicals; changes in financial markets; and the level
of interest in Saskferco from potential buyers and the course of negotiations
with them, as well as other risks and uncertainties reported from time to time
in The Mosaic Company's reports filed with the Securities and Exchange
Commission.  Actual results may differ from those set forth in the
forward-looking statements.

For further information:

For further information: Saskferco Corporate Affairs, Brad DeLorey, 
+1-306-530-1101; or Government of Saskatchewan, Karen Schmidt,
+1-306-787-5889;  or Investors, Christine Battist, +1-763-577-2828, or Media,
Linda Thrasher,  +1-763-577-2864, both for The Mosaic Company Web Site:

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