CSR Press Release

Saskatoon, Saskatchewan - For the second straight year, PotashCorp has received the Canadian Institute of Chartered Accountants (CICA) Overall Award of Excellence for Corporate Reporting. The honor is one of five earned by the company from the CICA this year, matching last year's total.

Only one other company has won the Overall Award in at least two consecutive years since the CICA began producing the awards in 1992.

"PotashCorp is pleased that the CICA judges continue to acknowledge our efforts to increase transparency in all areas of corporate reporting," says Bill Doyle, President and CEO, PotashCorp. "We know that improved disclosure and clear information support our strategy by reducing uncertainty and perceived risk. This enhances our reputation with stakeholders, securing our license to operate and providing a platform for growth."

In addition to the Overall Award, PotashCorp won the Award of Excellence in Financial Reporting. Other honors received this year include the Award of Excellence in Corporate Reporting for Mining for the third consecutive year, Honourable Mention for Excellence in Sustainable Development Reporting and Honourable Mention for Excellence in Corporate Governance Disclosure.

The CICA Corporate Reporting Awards are open to the top 50 companies per industry sector listed on the TSX as of March 31, 2005 with a market cap of over $200 million and incorporated in Canada.

Awards are given to companies that receive the highest average scores in four judging categories: financial reporting, corporate governance disclosure, electronic disclosure and sustainable development reporting. One award and one honourable mention are also given for excellence, regardless of industry sector, in the four judging categories: financial reporting, corporate governance disclosure, electronic disclosure and sustainable development reporting.

The awards were presented at the Toronto Hilton Hotel on December 7, 2005. For more information about the Canadian Institute of Chartered Accountants, visit http://www.cica.ca.

PotashCorp is the world's largest fertilizer enterprise producing the three primary plant nutrients and a leading supplier to three distinct market categories: agriculture, with the largest capacity in the world in potash, third largest in phosphate and fourth largest in nitrogen; animal nutrition, with the world's largest capacity in phosphate feed ingredients; and industrial chemicals, as the largest global producer of industrial nitrogen products and one of only three North American suppliers of industrial phosphates.

For further information please contact:

Betty-Ann Heggie
Senior Vice President, Corporate Relations
Phone: (306) 933-8521
Fax: (306) 933-8844
E-mail: corporate.relations@potashcorp.com
Web Site: www.potashcorp.com

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