REG-OJSC PhosAgro: Jim Rogers to join PhosAgro Board of Directors <Origin Href="QuoteRef">PHOR.MM</Origin> <Origin Href="QuoteRef">PHORq.L</Origin>

PhosAgro PAOAnnouncement

24/11/2014 14:10

For Immediate Release                                         16 September 2014

                                                                               
Well-Known Investor Jim Rogers to join PhosAgro Board of Directors

Moscow - PhosAgro (Moscow Exchange, LSE: PHOR), one of the world's leading
vertically integrated phosphate-based fertilizer producers, announces that an
EGM on 16 September 2014 elected a new Board of Directors.

When re-electing the Board of Directors, the EGM has voted in Jim Rogers, the
co-founder of Quantum Fund and owner of Rogers Holdings, as an independent
non-executive director ("INED") of PhosAgro.

Quantum Fund co-founder, Rogers Holdings investments owner and PhosAgro Board
of Directors member Jim Rogers said: "PhosAgro is an excellent company that
offers investors excellent value due to the high-quality fertilizers it
produces, its vertical integration and low production costs. I have watched the
company successfully develop as a global player over the last few years, with
flexible sales and production models that have helped it reach new markets,
while investments in its Russian production assets have enabled PhosAgro to
expand and improve its product portfolio.

"While Russian stocks have been under pressure through most of 2014, I think
that PhosAgro's share performance, which is among the best for Russian
companies in 2014, shows that investors understand the Company has world-class
assets and holds significant potential for sustainable growth.

"I am excited to be joining PhosAgro's Board today, and look forward to working
with the rest of the Directors and management to build value for shareholders."

PhosAgro CEO Andrey Guryev said: "I am thrilled that Jim Rogers joined the
Board, and PhosAgro is the first Russian company with which Mr. Rogers has
agreed to work in this capacity. Jim's reputation precedes him as an investor,
and his knowledge of the global commodities markets, including fertilizers, is
exceptional."

Following the EGM, PhosAgro's New Board of Directors will now include the
following members:

  * Igor Antoshin - Member of the PhosAgro Board of Directors, Advisor to the
    CEO of PhosAgro    
  * Andrey A. Guryev - Member of the PhosAgro Board of Directors, CEO of
    PhosAgro   
  * Andrey G. Guryev - Member of the PhosAgro Board of Directors, Vice
    President of the Russian Union of Chemists   
  * Sven Ombudstvedt - Member of the PhosAgro Board of Directors, CEO of Norske
    Skog   
  * Roman Osipov - Member of the PhosAgro Board of Directors, Director for
    Business Development of PhosAgro   
  * Marcus Rhodes - Member of the PhosAgro Board of Directors   
  * Ivan Rodionov - Member of the PhosAgro Board of Directors   
  * Jim Rogers - Member of the PhosAgro Board of Directors, owner of Rogers
    Holdings investment company
   
Short biographical information

Jim Rogers, a native of Demopolis, Alabama, is an author, financial
commentator, adventurer, and successful international investor. After attending
Yale and Oxford University, Rogers co-founded the Quantum Fund, a
global-investment partnership. During the next 10 years, the portfolio gained
4200%, while the S&P rose less than 50%. Rogers then decided to retire - at age
37. Continuing to manage his own portfolio, Rogers kept busy serving as a full
professor of finance at the Columbia University Graduate School of Business,
and, in 1989 and 1990, as the moderator of WCBS's `The Dreyfus Roundtable' and
FNN's `The Profit Motive with Jim Rogers'. In 1998, Rogers founded the Rogers
International Commodity Index, which was designed to meet the need for
consistent investing in commodities through a broad-based international
vehicle. The index tracks 38 commodity futures contracts from 13 international
exchanges.

In addition to serving on the PhosAgro Board of Directors, Jim Rogers also
holds the following positions:

  * Independent Director - FAB Universal Corp
  * Non-Executive Director - Geo Energy Resources Ltd
  * Non-Executive Director - Shenzhen Qianhai First China Precious Metals
    Exchange Centre Ltd   
  * Director - Spanish Mountain Gold Ltd   
  * Director - The Zweig Fund, Inc.   
  * Director - The Zweig Total Return Fund, Inc.   
  * Adviser - CQS   
  * Adviser - Forbes & Manhattan   
  * Adviser - Genagro Ltd   
  * Adviser - Laguna Bay Pastoral Company   
  * Adviser - Santiago Gold Fund, LP
   
For further information please contact:

OJSC PhosAgro

Irina Evstigneeva, Head of Corporate Finance and Investor Relations
ir@phosagro.ru
+7 495 231 3115

Timur Belov, Press Officer
+7 495 232 9689

EM

Sam VanDerlip
vanderlip@em-comms.com
t: +44 7554 993 032
t: +7 499 918 3134

Notes to Editors

PhosAgro is one of the leading global vertically integrated phosphate-based
fertilizer producers. The Company focuses on the production of phosphate-based
fertilizers, feed phosphate and high-grade phosphate rock (P2O5 content of not
less than 39%), as well as ammonia and nitrogen-based fertilizers.

The Company is the largest phosphate-based fertilizer producer in Europe, the
largest producer of high-grade phosphate rock worldwide and the second largest
MAP/DAP producer in the world (excluding China), according to Fertecon.
PhosAgro is also one of the leading producers of feed phosphates (MCP) in
Europe, and the only producer in Russia.

PhosAgro has 2.1 billion tonnes of resources (according to JORC) of high
quality apatite-nepheline ore. The Company's mines and phosphate rock
production facilities are located in the mountainous areas of the Kola
Peninsula in the Murmansk region of northwest Russia, whereas its fertilizer
and feed phosphate production assets are located near the city of Cherepovets
in the Vologda region and near the city of Balakovo in the Saratov region of
southwest part of European Russia.

PhosAgro's 2013 IFRS revenue was over USD 3.3 bln and EBITDA was USD 752 mln.
The Сompany's net debt/EBITDA ratio was 1.8 at 31 December 2013.

For further information on PhosAgro please visit: www.PhosAgro.com

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