CSR Press Release

SASKATOON, SASKATCHEWAN. - December 4, 2008 - PotashCorp continues to receive the respect of the corporate reporting community in Canada, with three awards of excellence in the 2008 CICA Corporate Reporting Awards from the Canadian Institute of Chartered Accountants.

The three top-tier awards were:

• The Award of Excellence in the Mining Category for its 2007 Annual Report, placing first in the category,

• The Award of Excellence in Electronic Disclosure, placing first among all categories,

• The Award of Excellence in Sustainability Reporting, placing first among all categories.

"With the market turmoil the world has experienced in recent months, we cannot underestimate the importance of transparency in helping build and retain the trust of our many stakeholders," said Denita Stann, Director, Investor Relations. "By providing insight into our strategies, our successes and even our shortcomings, we reduce uncertainty and increase our ability to gain their long-term support. That also helps raise the value of our company."

PotashCorp received the Award of Excellence for its Annual Report in 2007 and was given honourable mentions for electronic disclosure and sustainability reporting. The awards reflect PotashCorp's continuing commitment to excellence in corporate reporting, as the company previously won the CICA's Overall Award of Excellence for an unprecedented three consecutive years from 2004-2006.

"Year in and year out, PotashCorp demonstrates a consistent ability to maintain high standards of financial reporting and corporate communications," said CICA's President and CEO Kevin Dancey, FCA. "The company's success with this award program is impressive. It clearly demonstrates the value the company places on corporate reporting. Congratulations on another impressive showing."

The CICA Corporate Reporting Awards are open to the top 50 companies per industry sector listed on the TSX as of March 31, 2008 with a market cap of over $200 million and incorporated in Canada. The judging groups include the CICA, the Toronto CFA Society, Canadian Investor Relations Institute and the International Institute for Sustainable Development.

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