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January 28, 2004

Representatives of one of the world's largest investment banks, Goldman Sachs International, recently visited Uralkali

Representatives of one of the world's largest investment banks, Goldman Sachs International, recently visited Uralkali. They were shown the production, ore treatment factories and potassium mines. The bankers had several meetings with the management of the company. Dmitry Rybolovlev, Chairman of the Board of Directors of Uralkali, and Maxim Shirokov, President of the company, told the guests in detail about the prospects of the enterprise in the coming years, the development of a new deposit of potash-magnesium salts and the intention of the company to come to the world's stock markets.

This is what Garret Turner, Managing Director of Goldman Sachs International, said about the results of the visit to Uralkali:

I think the world's potassium industry is a very interesting sphere for investments. This is an important component of the world economy. The world's population keeps growing. Therefore the food business is highly promising to-day. The importance of agriculture and, consequently, of production of fertilizers for agriculture is growing. That is why I think the potassium business is very interesting now and, moreover, has good prospects for the future

As to the investment activity in Russia, today this is something discussed most actively by the majority of people who take an interest in the fate of the world market as a whole. Perhaps the only other country which is discussed as actively is China. Gradually we get to know Russia better and better. We are looking for ways to come to the Russian market, for possibilities of cooperation And we have reasons to do so. Russia has tremendous possibilities and vast resources. Its great potential is obvious. As Russia becomes increasingly open to the world it is easier to work here. People's trust in this country is building up and, therefore, they are keen to invest here. The Russian market has become civilized and we can make market projections here as we do on the other world markets.

Speaking about Uralkali, I first heard about this enterprise about two years ago. I know the company holds very stable positions on the market as one of the leaders of the world's potassium industry. Naturally, in this situation Uralkali is looking for the ways to increase the capitalization, including ways of attracting investments. And this is what I think: the greater the potential of the company, the more attractive it is going to be for investors.

Today we saw Berezniki, the city where the company is based and is operating, visited a mine, saw the production - in short, the business in action. All this is very impressive. I must say this is a transparent, absolutely clear company, which can be said only of the leaders of the world's potassium business. At Uralkali this business can only keep growing. And given the development of a new deposit it is becoming even more attractive.




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