Uralkali has learned that a potash consumer, Minn-Chem, Inc., has brought a civil antitrust complaint in the U.S. District Court of Minnesota against Uralkali and BPC, as well as certain other potash producers, including Belaruskali, Potash Corp, Mosaic, Agrium and Silvinit. Uralkali has not yet been served with process on this case. The complaint alleges price fixing violations of the U.S. Sherman Act since July 1, 2003 and seeks class action treatment on behalf of Minn-Chem, Inc. and others similarly situated. Uralkali also understands that a similar suit has been brought against the same defendants in the U.S. District Court of Illinois.

Uralkali intends to defend itself vigorously. Uralkali continues to be focused on the management of its business in the best interests of its investors.