CALGARY, Alberta, Mar 8, 2004 (BUSINESS WIRE) -- Agrium Inc. (NYSE: AGU)(TSX: AGU) - Agrium Inc. announced today that its wholly owned subsidiary, Nu-West Industries Inc. ("Nu-West"), has finalized an agreement with Astaris Production LLC ("Astaris") to immediately acquire ownership of certain Astaris assets at Nu-West's Conda, Idaho phosphate operation. This agreement was negotiated as part of Astaris's decision to cease production of purified phosphoric acid at the Conda facility in October of 2003. As part of the agreement, Nu-West will acquire Astaris's equipment at the Conda site, along with various mining assets and phosphate rock reserves in Southeast Idaho, which will be utilized to increase phosphate fertilizer production and extend the life of our phosphate rock reserves.

Agrium Inc. is a leading global producer and marketer of agricultural nutrients and industrial products and a major retail supplier of agricultural products and services in both North America and Argentina. Agrium produces and markets three primary groups of nutrients: nitrogen, phosphate and potash, as well as micronutrients. Agrium's strategy is to grow through incremental expansion of its existing operations and acquisitions as well as the development, commercialization and marketing of new products and international opportunities.

SOURCE: Agrium Inc.

CONTACT: Agrium Inc.
Richard Downey, 403-225-7357; 403-225-7609 (FAX)