Agrium receives Australian foreign investment approval

Agrium Inc. announced that it has received clearance from Australias Foreign Investment Review Board ("FIRB") regarding Agrium’s proposed acquisition of AWB Limited ("AWB") under the previously announced scheme of arrangement at a price of A$1.50 per share. FIRB has notified Agrium that there are no objections to the proposed acquisition in terms of the Australian Government’s foreign investment policy.

As a result, the condition precedent to the Scheme Implementation Deed between Agrium and AWB in relation to this approval is now satisfied.

AWB and Agrium continue to progress the process of seeking the required regulatory, shareholder and court approvals.

AWB is a company listed on the Australian Securities Exchange (ASX) more information is available at the ASX website www.asx.com.