Citi Appointed Depositary for OJSC PhosAgro’s GDR Programme

London, Moscow - July 21, 2011 – Citigroup today announced that its Global Transaction Services business, acting through Citigroup Global Markets Deutschland AG., has been appointed by OJSC “PHOSAGRO”. (“PhosAgro”), – the Russian-based vertically-integrated global leader in the phosphate fertiliser industry – as the Depositary Bank for its London Stock Exchange-listed Global Depositary Receipt (GDR) programme.

PhosAgro’s GDR programme was established through a US$538 million offering, originally priced at US$14.00 per GDR. The GDRs are listed on the London Stock Exchange under the symbol “PHOR”. Each GDR represents 1/30 ordinary shares; and the underlying ordinary shares have been listed in Russia on the RTS and MICEX Exchanges under the symbol PHOR.

Dirk Jones, Global Head of Securities and Fund Services Client Sales Management at Citi said, “We’re very pleased that PhosAgro has chosen Citi as its Depositary Bank. We look forward to helping PhosAgro attain higher program visibility and brand recognition, and to working diligently with them to craft a successful programme with broad appeal in the global marketplace.”

For more information on Citi’s Depositary Receipt Services, visit www.citi.com/dr.

Through its Securities and Fund Services business, Citi’s industry-focused experts provide institutional investors worldwide with tailored solutions delivered through proven global platforms that feature modular, open architecture. With $13.5 trillion of assets under custody and the industry’s largest proprietary network, clients can leverage Citi’s local market expertise and global reach to extract value across the entire investment value chain.

Global Transaction Services, a division of Citi’s Institutional Clients Group, offers integrated cash management, trade, and securities and fund services to multinational corporations, financial institutions and public sector organizations around the world. With a network that spans more than 100 countries, Citigroup’s Global Transaction Services supports over 65,000 clients. As of the second quarter of 2011, it held on average $365 billion in liability balances and $13.5 trillion in assets under custody.

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About OJSC PhosAgro
PhosAgro is a vertically integrated global leader in the phosphate fertiliser industry. The Group focuses on the production of phosphate-based fertilisers, feed phosphate and high-grade phosphate rock, as well as ammonia and nitrogen-based fertilisers. In 2010, the Group was the largest phosphate-based fertiliser producer in Europe, the largest producer of high-grade phosphate rock worldwide and a leading producer of MAP/DAP in the world according to Fertecon.

About Citi
Citi, a leading global financial services company, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.

Additional information may be found at www.citigroup.com.