Today the Board of Directors of JSC Uralkali (“Uralkali”) has made a number of decisions aimed at streamlining the company’s organizational structure and improving overall management efficiency.

Denis Morozov will become president of Uralkali, with effect from February 1, 2010. As president, Mr. Morozov will assume Chief Executive Officer responsibilities and supervise all main business areas, including production, financial policy, marketing and sales, corporate development, human resources, government, investor and public relations.

Vladislav Baumgertner, Uralkali’s current CEO, will become Chief Operating Officer and focus on managing production operations, its modernization and development, as well as increasing efficiency and reducing production costs.

Mikhail Antonov, who has held the position of Acting President of Uralkali since July 2009, will continue to work for the company.

Dmitry Rybolovlev, Chairman of the Board of Directors of Uralkali, said:

"Denis Morozov’s appointment and assumption of CEO responsibilities marks a new stage of the company’s development. Vladislav Baumgertner has achieved a number of very important goals, including the exceptionally successful listing of the company on the international stock market, modernization of production and improvement of business processes.

Our focus today is to continue to improve corporate governance and to get it in line with the highest international standards, thereby helping us to increase market capitalization of the company for the benefits of all shareholders. I am confident that Denis Morozov’s experience and professional skills will help the company to achieve these goals".

Viktor Belyakov, who currently holds the position of Deputy Director General, Director of Economics and Finance, will become Uralakali’s new Chief Financial Officer, effective January 1, 2010. Mr. Belyakov joined the company in 2004 and is responsible for managing the financial and economic parts of the company’s operations and for overseeing operational cooperation within Uralkali and its subsidiaries.

Kuzma Marchuk, who has been Uralkali’s Chief Financial Officer since 2004, will resign his post, with effect from January 1, 2010, in order to focus on his role as a member of the company’s Board of Directors.

Background:

Denis Morozov

Denis Morozov was born in 1973. In 1993 he graduated from Moscow State University with a degree in economics. In 1996 he received a diploma with honors in Law from Moscow State University and in 1999 graduated from Swiss Banking School. In 1999 he completed his postgraduate studies at the Moscow State Institute of International Relations and received a PhD in Economics.

From 1992 to 1994, Mr. Morozov worked for Ingosstrakh. Between 1994 and 1998 he worked for Alfa-bank. From June 1998 to February 1999 he served as the Head of Commercial Banking Operations Department for the Commercial Bank International Financial Company. On March 1, 1999 Denis Morozov joined Norilsk Nickel, where he held several executive positions and was responsible for the restructuring RAO Norilsk Nickel and establishing a new public company OJSC MMC Norilsk Nickel. In 2005-2006 Denis was responsible for the successful spin-off of MMC Norilsk Nickel’s gold mining assets and the establishment of an independent company, OJSC Polyus Gold. Mr. Morozov was a member of the Board of Directors of Polyus Gold from the company’s foundation until June 2007.

Mr. Morozov was President and CEO of MMC Norilsk Nickel from March 2007 until July 2008.

In May 2009 Mr. Morozov graduated from Harvard Business School and since July 2009 has been studying at Columbia University.

Mr. Morozov also serves as an independent member of the Board of Directors of JSC “United Grain Company”.

Viktor Belyakov

Viktor Belyakov was born in 1973. In 1995 he graduated from Tver Polytechnic Institute with a degree in Computer Engineering. In 1997 he received a degree in economics from Tver State Technical University. Mr. Belyakov also holds an MBA degree from Kingston Business School and a CMA (Certified Management Accountant) degree.

In 2004 Mr. Belyakov was appointed Financial Controller of Uralkali. Between 2005 and 2006 he served as a member of the Board of Directors of JSC “BBT”. At the end of 2005 he was appointed CFO of Belarusian Potash Company. From 2007 he served as Director of Economics and Finance of Uralkali, and since 2008 he has held the post of the Deputy Director General, Director of Economics and Finance of Uralkali. Since 2007 he has been a member of the Management Board. He is currently a member of the Board of Directors of a number of companies affiliated with Uralkali.

Between 2002 and 2004 Mr Belyakov worked as a financial controller for Yukos and from 1999 to 2003 he was CFO with one of the companies of ABB Group. Prior to 1999 he worked in the banking sector.