CALGARY, Alberta – Agrium Inc.’s (TSX and NYSE: AGU) President and CEO Mike Wilson reasserted the Company’s commitment to its Retail business and emphasized its importance to Agrium’s vision for continued growth at Agrium’s recent investor day session in Baltimore, Maryland. The investor day included a tour of a nearby Agrium Retail farm center.

In discussing Agrium’s strategy and outlook for the company, Mr. Wilson spoke repeatedly of Retail’s importance within the Company’s core strategy – “to invest across the Value Chain and continue to add to our stable earnings base.”

In speaking of Agrium’s ongoing efforts to acquire CF Industries – one of North America’s largest manufacturers and distributors of nitrogen and phosphate fertilizer products – Wilson remarked that when we announced CF many people were concerned we were abandoning Retail. We said, “No. Understand our strategy: it’s across the Value Chain.” He was very clear that when Agrium seeks to grow its Wholesale business, it doesn’t mean the Company is abandoning its Retail business. “And when we invest in Retail,” he added, “it doesn’t mean we’re abandoning Wholesale.”

Wilson went on to explain Agrium will grow its Retail business through acquisitions, continued  enhancement of the base business, including growth in its seed business, and broader offerings of Agrium’s private label products. “We will double our Retail business in the next five years,” he told the audience. Following his presentation, Wilson fielded a question from the audience about whether it makes sense for Agrium “to give the public markets a chance to invest in a ‘pure play retail asset’.” While Wilson acknowledged that spinning off its Retail business “is always an option”, he was unequivocal that the Company has no plans to divest its Retail business.

A Bloomberg article was published based on this response, claiming that Agrium was considering spinning off its retail business.  Wilson re-iterated his position noting that the remark about looking at all options was taken out of context.  “We continually evaluate all options as we strive to provide our investors with superior returns. That includes the possibility of divesting or spinning-off various segments of our business.  But simply considering a possibility doesn’t mean it is likely to occur…especially when such a move would be out of line with the Company’s strategy, clearly Retail will continue to play a crucial role in Agrium’s vision for growth for the foreseeable future.”

About Agrium
Agrium Inc. is a major retail supplier of agricultural products and services in both North and South America and a leading global producer and marketer of agricultural nutrients and industrial products. 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.

FOR FURTHER INFORMATION:
Investor/Media Relations:
Richard Downey, Senior Director, Investor Relations
(403) 225-7357

Ashley Harris, Manager, Investor Relations
(403) 225-7437

Contact us at: www.agrium.com