CALGARY, Alberta -- Agrium Inc. (TSX and NYSE: AGU) announced today a net loss for the fourth quarter of 2006 of $62-million ($0.47 diluted loss per share), versus net earnings of $54-million ($0.40 diluted earnings per share) for the same period in 2005.  Excluding the impact of a $95-million ($0.72 diluted earnings per share) after-tax adjustment in the carrying cost of its Canadian phosphate assets, the fourth quarter earnings were $33-million or $0.25 diluted earnings per share.

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