CALGARY, Alberta -- Agrium Inc. (TSX and NYSE: AGU) announced today that net earnings for the second quarter of 2006 were a record $142-million ($1.06 diluted earnings per share), up from net earnings of $133-million ($0.99 diluted earnings per share) for the same period in 2005. Even without the non-cash future income tax recovery of $18-million, the second quarter 2006 is the second highest earnings on record.

To view the full financial results click here.

To view the 2nd Quarter supplemental table click here.

To view the supplemental table for the first six months click here.

Contact:
Investor/Media Relations:
Richard Downey
Senior Director, Investor Relations
Phone: (403) 225-7357

Christine Gillespie
Manager, Investor Relations
Phone: (403) 225-7437

Contact us at: www.agrium.com