CALGARY, Alberta, Aug 10, 2004 (BUSINESS WIRE) -- Agrium Inc. (NYSE:AGU) (TSX:AGU) announced today that Alberta's Natural Resources Conservation Board (NRCB) has granted its approval for the extension of Agrium's existing gypsum storage area at its phosphate fertilizer facility near Redwater, Alberta. The NRCB decision did contain several conditions, none of which Agrium anticipates any difficulty in addressing.

Alex Watson, General Manager, Fort Saskatchewan and Redwater Operations stated, "We are very pleased that the regulatory process has confirmed our project is in the public interest and that we can now move forward with our extension. This decision contributes to the long-term viability of the facility and not only positively impacts the 266 employees in our phosphate operations at Redwater, but the local economy as well. It is also good news for our customers, the farmers, ensuring a reliable high quality supply of phosphate products for the Western Canadian market."

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 North America and Argentina. Agrium produces and markets three primary groups of nutrients: nitrogen, phosphate, 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.

Certain statements in this press release constitute forward-looking statements. Such forward-looking statements involve known and unknown risks and uncertainties, including those referred to in the management discussion and analysis section of the Corporation's most recent annual report to shareholders, which may cause the actual results, performance or achievements of the Corporation to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

SOURCE: AGRIUM INC.

Agrium Inc.
Richard Downey
Investor/Media Relations
(403) 225-7357
OR
Agrium Inc.
Alex Watson
General Manager, Ft. Sask. & Redwater Operations
(780) 998-6302