www.sinochem.com

Fort Meade Chemical Plant

SO₂: 4 lb/ton, 500 lb/h, 2190 ton/a
Acid Mist: 0.15 lb/ton, 18.8 lb/h, 82.3 ton/a
Opacity: < 10%
NOx: 18 ppm, 73.6 ton/a

SO₂: 4 lb/ton, 500 lb/h, 2190 ton/a
Acid Mist: 0.15 lb/ton, 18.8 lb/h, 82.3 ton/a
Opacity: < 10%
NOx: 18 ppm, 73.6 ton/a

State of Florida Department of Environmental Protection
Facility ID: 1050051
Title V Air Operation Permit

October 14, 2005 - The Mosaic Company announced today that it has signed definitive agreements with U.S. Agri-Chemicals (USAC) and its parent company, Sinochem Corporation, comprising a global resolution of various commercial matters and disputes involving the parties. The parties have been working to complete definitive agreements since the signing of a nonbinding term sheet in August 2005.  Several agreements comprise the global resolution, including the agreement by Mosaic to pay $84 million resulting from the early termination of Mosaic's phosphate rock sales agreement with USAC. Prior to the business combination between IMC Global Inc. (IMC) and Cargill Crop Nutrition, USAC paid amounts to IMC under the rock sales agreement. In September 2004, IMC exercised its early termination right under the agreement, accelerating the termination date of the contract to October 1, 2007. Mosaic has agreed to pay $84 million as an early termination fee, and the parties will accelerate the termination of the phosphate rock sales agreement at closing.  Mosaic has also agreed to settle an existing lawsuit relating to prior pricing disputes under the phosphate rock sales agreement for approximately $10 million. In addition, Mosaic has agreed to acquire various equipment, spare parts, and real property containing approximately three million short tons of unmined phosphate reserves in Central Florida. The purchase price for the acquisition of these assets is $38 million, and will be paid through the issuance of Mosaic common shares.  The agreement is subject to certain closing conditions. The parties expect that the transactions contemplated under the global resolution will close on or before December 10, 2005 and the acquisition of phosphate reserves to occur on or before March 31, 2006.