SASKATOON, SASKATCHEWAN -December 5, 2007 - PotashCorp today continued to be recognized as a leader in corporate transparency as its 2006 corporate reporting was given the Award of Excellence in the Mining Category from the Canadian Institute of Chartered Accountants (CICA).

The company also received an Honourable Mention for electronic disclosure, in particular the company's website, and an Honourable Mention for its 2006 Sustainability Report.

"Stakeholders are looking for a company they can trust, to invest in, to partner with or to be employed by, and the role transparency has in building that trust cannot be underestimated," said Wayne Brownlee, Executive Vice President and Chief Financial Officer at PotashCorp. "Our top-notch corporate reporting program is a tool for improving our performance. In fact, we believe that transparency makes us function more effectively."

From 2004 to 2006, PotashCorp was named Canada's top corporate reporter by the accountants' group. PotashCorp is the only company to receive CICA's Overall Award of Excellence for Corporate Reporting three years in a row.

The CICA Corporate Reporting Awards are open to the top 50 companies per industry sector listed on the TSX as of March 31, 2007 with a market cap of over $200 million and incorporated in Canada. The judging groups include the CICA, the Toronto CFA Society, Deloitte, Canadian Investor Relations Institute and the International Institute for Sustainable Development.

"Canadian companies like PotashCorp that adhere to such high standards of financial reporting and corporate communications understand the importance of transparency to their business and to protecting the public interest," said CICA's President and CEO Kevin Dancey, FCA.

The awards were presented today at a luncheon at the Metro Toronto Convention Centre.

PotashCorp

PotashCorp

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.

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