PRESS-RELEASE

URALCHEM announces MFP KCCW debt restructuring

Moscow, Russia – 29 October, 2009 – URALCHEM, OJSC, (“the Company” or “URALCHEM”), one of the largest producers of nitrogen and phosphate fertilizers in Russia and the CIS, today announced that it has reached an agreement with its creditors on the refinancing of US$ 60 million debt of MFP KCCW, CJSC (Mineral Fertilizer Plant of Kirovo-Chepetsk Chemical Works, Closed Joint Stock Company, Kirovo-Chepetsk, Kirov Region). The agreements postpone debt repayment from 2009 to 2010.

URALCHEM and Raiffeisen Bank have agreed on the following schedule for debt repayment: US$ 20 million payable in the 1^st quarter of 2010, and US$ 40 million in the 2^nd quarter of 2010. Interest rates for this credit remained unchanged.

This refinancing agreement with ZAO Raiffeisen Bank has become an important milestone in the process of optimizing the Company’s financing obligations. These steps, together with efficiency improvement and cost reduction programmes, will allow URALCHEM to continue its successful development and growth.

Anton Vishanenko, CFO of URALCHEM commented: “Our new agreements with the banks demonstrate their confidence in the further sustainable development of the mineral fertilizer industry, reliability of the Company’s investment plans, and the efficiency of its production processes”.

Public Relations Department
URALCHEM
tel. +7 (495) 721 89 89
dmitry.sakhno@uralchem.com
www.uralchem.com

URALCHEM is one of the largest producers of nitrogen and phosphate fertilizers in Russia and the CIS with production capacities of over 2.7 million tonnes of ammonium nitrate, 2.2 million tonnes of ammonia, 0.8 million tonnes of MAP and DAP, 0.8 million tonnes of complex fertilizers and 0.5 million tonnes of urea. URALCHEM is the second largest ammonium nitrate producer in the world and number one in Russia. URALCHEM’s key production assets include Kirovo-Chepetsk Chemical Works, OJSC in Kirovo-Chepetsk, Kirov region; Azot, OJSC in Berezniki, Perm region; Voskresensk Mineral Fertilizers, OJSC in Voskresensk, Moscow region.

Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of URALCHEM. We wish to caution you that these statements are only predictions. We do not intend to update these statements and our actual results may differ materially from those contained in our projections or forward-looking statements, including, among others, the achievement of anticipated levels of profitability, growth, cost and synergy of our recent acquisitions, the impact of competitive pricing, the ability to obtain necessary regulatory approvals and licenses, the impact of developments in the Russian economic, political and legal environment, financial risk management and the impact of general business and global economic conditions.