Article: Agrium Acquires 18 Retail Outlets in Argentina, Chile, and Bolivia

CALGARY, ALBERTA--(CCNMatthews - Feb. 2, 2005) -

ALL AMOUNTS ARE STATED IN U.S.$

Agrium Inc. (TSX:AGU) (NYSE:AGU) announced today that it has acquired the retail operations of United Agri Products (UAP) South America. While the specific terms of the transaction are confidential, the primary investment is in working capital. The transaction includes 18 retail locations (12 Argentina; 4 Chile; 2 Bolivia) with net sales of $31-million for the year ended February 29, 2004. Agrium's existing 21 Agroservicios Pampeanos S.A. (ASP) farm centres had net sales of $92-million for 2003.

"We believe this acquisition offers a number of benefits to Agrium," said Mike Wilson, Agrium's President and CEO. ...

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