OREANDA-NEWS. April 15, 2011. OJSC Uralkali ("Uralkali") announces that, as a result of the court hearing held on 13 April 2011 by the 17thArbitration Court of Appeal, the court upheld the appeal of Uralkali and Silvinit on

the injunction imposed by the Perm Territory Arbitration Court on 25 February 2011. The injunction related to the claim filed on 24 February 2011 by OJSC Acron, Licona (International) Limited, ROF (Cyprus) Limited and Medvezhonok Holdings Limited against OJSC Silvinit ("Silvinit") and Uralkali and sought to invalidate decisions approved by the Extraordinary General Shareholders Meeting ("EGM") of Silvinit on 4 February 2011, and the merger agreement entered into between Uralkali and Silvinit.

The court decision, therefore, lifts the measure prohibiting the Russian Federal Service for Financial Markets from registering the Uralkali share issuance and the report on the results of share issuance – to be placed as a result of conversion of Silvinit shares into Uralkali shares – upon completion of the merger in accordance with the merger agreement.

Previously, as a result of the court hearing held on 18 March 2011 by the Perm Territory Arbitration Court, the court lifted the injunction prohibiting Silvinit from implementing the decision on the reorganization of Silvinit in the form of the merger with Uralkali, approved by Silvinit shareholders, as well as the injunction prohibiting the implementation of the merger agreement and the registration of termination of Silvinit through entries into the unified state register of legal entities upon completion of the merger.

Vladislav Baumgertner, Uralkali CEO:

We welcome the decision of the Arbitration Court of Appeal. Lifting the injunction as well as the recent approval by the Russian Antimonopoly Service of the proposed combination of Uralkali and Silvinit will allow us to complete the merger, pursuant to the previously announced timetable and in accordance with the terms announced and subsequently supported by the overwhelming majority shareholders of both companies.