OREANDA-NEWS. Potash Corporation of Saskatchewan Inc. (PotashCorp) announced today that the Toronto Stock Exchange (the TSX) has approved PotashCorp's previously announced share repurchase program to purchase for cancellation up to 43,345,992 common shares, representing 5 percent of its outstanding common shares, over a one-year period through a normal course issuer bid subject to a maximum aggregate amount of USUSD 2 billion.

Repurchases under the program may commence on August 2, 2013 and will terminate not later than August 1, 2014.  There were 866,919,856 common shares outstanding as at July 30, 2013.  Common shares repurchased under the program will be cancelled.

Purchases under the program may be made through the facilities of the TSX, the New York Stock Exchange or alternative trading platforms in Canada or the United States by means of open market transactions or by such other means as may be permitted by the TSX and applicable U.S. securities laws. The price PotashCorp will pay for any common shares will be the market price at the time of purchase or such other price as may be permitted by applicable regulatory requirements.  The actual number of common shares that may be repurchased under the program and the timing of any such repurchases will be determined in the discretion of PotashCorp and will be subject to the limitations imposed by the rules and regulations of the TSX and Rule 10b-18 (Rule 10b-18) under the Securities Exchange Act of 1934 (including the average daily trading volume (ADTV) limitations).  The ADTV of the company's shares on the TSX (for the 6 months ended June 30, 2013) and the NYSE (for the preceding four calendar weeks as of the date hereof) was 1,674,581 common shares and 7,234,374 common shares, respectively.  Under the rules of the TSX, PotashCorp is entitled to repurchase during the same trading day on the TSX up to 25% of the ADTV of its common shares traded on the TSX, being 418,645 common shares (subject to certain limited exceptions).  In addition, PotashCorp may repurchase during the same trading day on the NYSE up to 25% of the ADTV of its common shares traded on the NYSE.