CALGARY, Alberta -- Agrium Inc. (TSX and NYSE: AGU) announced today the extension of a small shareholder selling program (the “Program”) that enables registered and beneficial shareholders who own 99 or fewer Common Shares ("Shares") of Agrium as of October 16, 2006, to sell their Shares without incurring any brokerage commission. Agrium has retained Georgeson Shareholder Communications Canada Inc. (“Georgeson”) to manage the Program and to handle share transactions and payment. The sale of Shares will be executed through the facilities of the Toronto Stock Exchange (TSX).

The voluntary Program began on October 25, 2006 and expired December 20, 2006. The first extension of the Program expired on January 19, 2007. This second extension expires 3 pm E.S.T., February 16, 2007 and there will be no further extension. The Program is designed to assist eligible shareholders in selling their Shares in a convenient and inexpensive manner. Certificate(s) representing the odd lot shares accompanied by duly completed and executed Letters of Transmittal will not be accepted by Georgeson after February 16, 2007, unless the Program is extended.  Both registered holders and beneficial holders of Shares held in nominee form are eligible to participate. The Program allows eligible shareholders the opportunity to either sell all of their Shares or continue to maintain their current holdings.  Participating shareholders will not incur any brokerage commissions if they elect to dispose of their Shares.  Payment for Shares sold under the Program will be mailed approximately five business days after such sale.  Information about the Program and participation documents will be forwarded to eligible shareholders.

All Shares received will be gathered into board lots (100 or more Shares) and sold no later than 12:00 p.m. on the next business day on the TSX.  The price to be received for the Shares sold will be the average price received for all shares sold on a given day.  For the convenience of shareholders resident in the United States, Shares will be sold on the TSX and the proceeds will be converted into U.S. funds at the prevailing conversion rate at the time of sale.

Agrium is pleased to make this voluntary Program available to its shareholders.  However, Agrium makes no recommendation as to whether or not an eligible shareholder should participate in the Program.  The decision to participate should be based upon a shareholder’s particular circumstances.  Eligible shareholders may wish to obtain advice from their broker or financial advisor as to the advisability of participating.

Questions regarding the Program should be directed to Georgeson Shareholder Communications Canada Inc. toll free at 1-866-546-5784 or collect at 416-847-7147 outside of North America.

About Agrium
Agrium Inc. is a leading global producer and marketer of agricultural nutrients, industrial products, and specialty fertilizers, and a major retail supplier of agricultural products and services in both North and South America.  Agrium produces and markets three primary groups of nutrients: nitrogen, phosphate and potash as well as controlled release fertilizers and 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.