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PhosAgro Wins “Russian Leaders in Corporate Governance 2012” Award for Best Progress in Developing Corporate Governance

12 December 2012

Moscow – PhosAgro (or "the Company") (Moscow Exchange, LSE: PHOR), a leading global vertically integrated phosphate-based fertilizer producer, announces that it has been awarded for Best Progress in Developing Corporate Governance in the annual “Russian Leaders in Corporate Governance” competition.

The competition is organised by the Investor Protection Association (IPA), which was created in 2000 with the goal of uniting the investment community`s efforts to protect investors` rights and improve corporate governance in Russia.  The IPA`s members include Russian and international funds with over USD 25 billion in portfolio investments in Russia and significant experience in the country.

Awards are granted for various aspects of issuers` activities, including: corporate governance, transparency, investor relations, dividends policy, protection of shareholders` and investors` rights.

Members of the IPA noted that in 2012 PhosAgro had achieved the most progress in developing corporate governance, implementing best practice in information disclosure and corporate governance, acting in the interests of its investors and shareholders, as well as fulfilling promises and obligations.

The awards ceremony took place on 11 December 2012 in Moscow at the Corporate Governance in Russia: Results of 2012 round table conference.  Leading Russian and international institutional investors, government officials and Russian market participants all attended the event.