Yara makes SOP investment

Oslo (2012-04-02): Yara has agreed to make a strategic investment of
approximately CAD 40 million in IC Potash Corp (ICP) and has entered into an
off-take arrangement for 30% of all products produced by ICP's Ochoa project in
New Mexico for a period of 15 years. ICP and Yara have also agreed to discuss
the possibility of establishing a jointly held entity for the purpose of
marketing products produced by the Ochoa project.

"This investment fits well with our strategy. Through the ownership in ICP, Yara
gets an upstream exposure on potash which reduces and mitigates the financial
impact of being structurally short on the nutrient. Furthermore, the partnership
with ICP aligns our respective strategies to develop and distribute premium
fertilizer products, where Yara already has a leading position globally with its
nitrates and nitrate-based NPK portfolio," says Jørgen Ole Haslestad, President
and Chief Executive Officer in Yara.

Mr. Sidney Himmel, President and CEO of ICP, comments, "Yara and ICP share a
strategic focus on premium products and adding value in the fertilizer supply
chain. As one of the world's largest distributors of plant nutrients, Yara is
the ideal partner for ICP's project development and product marketing
strategies. This partnership is transformational for ICP and provides the
Company with a significant injection of capital and a buyer for 30% of the
annual production by the Ochoa project. We look forward to working with Yara in
further developing the distribution channels for our premium potash products."

Pursuant to the strategic investment, Yara, through a wholly-owned subsidiary,
will purchase from ICP in a private placement transaction 30,129,870 common
shares at a price of $1.32 per share. The issue price represents a 41% premium
over the 20 day volume weighted average price of ICP's common shares traded on
the Toronto Stock Exchange as of the close of business on 30 March 2012. On
completion of the transaction, Yara's shares will represent 19.9% of the issued
and outstanding common shares of ICP on a non-diluted basis.

ICP's objective is to start commercial production in fourth quarter 2015, with
an estimated annual production of 700,000 metric tons of SOP and SOPM (Potash
Magnesium Sulphate). SOP is a non-chloride based potash fertilizer used in the
cash crop and horticultural industries, and for agriculture in saline and dry
soils. It is considered a premium product, carrying a substantial premium over
the price of Muriate of Potash (MOP).

Upon completion of the transaction, ICP will have approximately USD 60 million
in cash which will be used to complete a definitive bankable feasibility study,
all required permitting, deposits for equipment purchases, and pre-construction
engineering. ICP intends to launch the feasibility study on the Ochoa project in
the coming weeks.

Yara will have the right to appoint one representative to ICP's board of
directors and the pre-emptive right to participate pro rata in all future equity
or equity-linked issuances by ICP. Subject to certain exceptions, Yara will be
restricted from transferring securities of ICP until the earlier of 24 months
following the closing date and the date on which ICP has secured all financing
to complete the construction of the Ochoa project and such construction has
commenced. During such period, and subject to certain exceptions, Yara has
agreed not to make any take-over bid for ICP's securities and not to take
certain other actions which may affect the control of ICP.

Yara has no current intention to acquire additional securities of ICP, except in
connection with the exercise of its pre-emptive right, or to dispose of any of
its ICP securities. Subject to its agreements with ICP, and depending on its
assessment of ICP's business, prospects and financial condition and general
economic and market conditions, Yara may from time to time increase or decrease
its ownership of securities of ICP.

Closing of the private placement and off-take arrangement is expected to take
place on or about April 12, 2012, and is subject to customary closing conditions
including the approval of the Toronto Stock Exchange.


Contact:

Yara International ASA
Bygdøy allé 2
P.O. Box 2464 Solli
N-0202 Oslo
Norway

Thor Giæver, Investor Relations
Telephone  (+47) 24 15 72 95
Cellular (+47) 48 07 53 56
E-mail thor.giaver@yara.com

Esben Tuman, Media Relations
Cellular (+47) 90 50 84 00
E-mail esben.tuman@yara.com


Yara delivers solutions for sustainable agriculture and the environment. Our
fertilizers and crop nutrition programs help produce the food required for the
growing world population. Our industrial products and solutions reduce
emissions, improve air quality and support safe and efficient operations.
Founded in Norway in 1905, Yara has a worldwide presence with sales to 150
countries. Safety is always our top priority.
www.yara.com



This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.





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Source: Yara International ASA via Thomson Reuters ONE
[HUG#1599168]


Unternehmen: Yara International ASA - ISIN: NO0010208051