For Immediate Release                                        25 January 2016

    PhosAgro and Eximbank of Russia Sign RUB 3 Billion Loan Agreement under State
    Programme to Support High-Tech Exports

    Eximbank of Russia (part of the Russian Export Centre Group) and PhosAgro
    (Moscow Exchange, LSE: PHOR), one of the world's leading vertically integrated
    phosphate-based fertilizer producers, have signed an 18-month loan agreement
    for RUB 3 billion.

    PhosAgro CEO Andrey Guryev said, "This loan agreement will enable us to
    strengthen the flexibility of our sales and improve PhosAgro's competitive
    advantages in the global fertilizer market, as well as the turnover of our
    financing resources.  We have reached an agreement on exceptionally attractive
    terms, which once again proves that PhosAgro is considered a first-class
    borrower by both foreign and Russian banks."

    The decision to lend to PhosAgro was taken as part of Russia's state programme
    to support high-tech exports.

    Eximbank of Russia Management Board Chairman Dmitry Golovanov said: "Providing
    financing to foreign buyers, which is the classic service provided by Exim
    banks worldwide, is very popular among Eximbank of Russia's clients.  We seek
    to expand the export potential of Russian companies, taking into account the
    individual characteristics of each business and its foreign counterparties. 
    Our partners at PhosAgro have an impressive track record on international
    markets and have a good understanding of export financing instruments, which
    enabled us to complete the signing of this deal very quickly."

    About PhosAgro:

    PhosAgro (www.phosagro.com), a vertically integrated Russia company, is one of
    the world's leading producers of phosphate-based fertilizers and high-grade
    phosphate rock (containing >39% P2O5).

    PhosAgro is the largest European producer of phosphate-based fertilizers, the
    world's largest producer of high-grade phosphate rock, and the world's
    second-largest producer of DAP and MAP (excluding China), according to
    Fertecon.  It is also Europe's largest, and Russia's only, producer of
    monocalcium phosphate (MCP), as well as Russia's only producer of nepheline
    concentrate. 

    The Company's products, including phosphate rock, 28 fertilizer grades, feed
    phosphates, ammonia, and sodium tripolyphosphate are used in 100 countries
    spanning all of the inhabited continents.  PhosAgro's priority markets, in
    addition to Russia and the CIS, are Latin America, Europe and Asia.

    The Company's shares trade on the Moscow Exchange and Global Depositary
    Receipts for shares trade on the London Stock Exchange (both under the ticker
    PHOR).

    About Eximbank of Russia:

    Eximbank of Russia was founded in 1994 in accordance with the Government of the
    Russian Federation decree #633 dated 07.07.1993, "On the creation of a Russian
    export-import bank" and decree #16 dated 11.01.1994, "On the Russian
    import-export bank".  The bank was created with the goal of supporting the
    export of domestically-produced goods.

    The bank's authorized capital is 12,65 billion roubles.

    Eximbank of Russia has been part of Vnesheconombank Group since 2015, and does
    business under the auspices of the Russian Export Centre

    Russian rating agency RAEX (Expert RA) has assigned to the Bank an individual
    credit rating of «A++»/stable. The Bank also has a Ba2/Negative long-term
    foreign-currency deposit rating from Moody's.

    Eximbank of Russia's banking license from the Central Bank of the Russian
    Federation is #2790-g, dated 18 April 1994.