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April 30, 2010

Decisions of Uralkali Board of Directors

On April 29, 2010, the Board of Directors of Uralkali (Berezniki, Perm Territory) held a meeting, which passed a resolution to convene the company’s Annual General Meeting in Berezniki on June 18, 2010. The record date was scheduled for May 11, 2010.

The Uralkali Board of Directors has recommended that the AGM approve payment of 3.6 billion rubles in dividends for 2009, which represents 1.70 rubles per ordinary share and 8.50 rubles per GDR.

The Uralkali Board of Directors has recommended that the AGM approve remuneration for 2009 only for the independent directors and has allocated 16.8 million rubles for this purpose. The Board of Directors has recommended not paying remuneration for 2009 to the rest of the Board.

Vladislav Baumgertner will resign his post as the company’s Director General, effective June 30, 2010. As of July 1, 2010, this position will be taken by Denis Morozov, who will also retain his current posts of President and CEO. The decision that Mr. Morozov will replace Vladislav Baumgertner as Director General was taken when Mr. Morozov was appointed as President of Uralkali. The reshuffle is a planned development and is part of the company’s strategy to increase management efficiency.

Dmitry Rybolovlev, Chairman of Uralkali Board of Directors, said

«Uralkali’s Board of Directors greatly appreciates the work of Vladislav Baumgertner during his time as Director General of Uralkali and is grateful for his contribution to the development of the company. As an executive with Uralkali for seven years, he successfully achieved a number of strategic goals.

As of July 1, 2010, all key managerial functions will be assumed by Denis Morozov, Uralkali’s President and CEO. During the last several months Mr. Morozov has thoroughly studied all areas of Uralkali’s operations and now has a strong understanding of the day-to-day functioning of the company. I am confident that his professionalism and expertise will be an asset for Uralkali that will help bring the company’s corporate governance in line with the highest international standards.»




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