(AGRIUM LOGO)
    
    NEWS RELEASEFOR IMMEDIATE RELEASE
 
 Agrium increases Q2 guidance
 June 19, 2011  ALL AMOUNTS ARE STATED IN US$ UNLESS OTHERWISE STATED
    The major assumptions made in preparing our second quarter guidance on continuing operations
are outlined below and include, but are not limited to:
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    Wholesale and North American Retail fertilizer margins reflecting increasing benchmark
prices through the second quarter except for Wholesale volumes previously committed under
pricing programs;
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    Aggregate Wholesale fertilizer sales volumes consistent with the same levels in the
second quarter of 2010 with some shift in product mix;
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    Retail North American fertilizer sales volumes slightly below sales volumes in the
second quarter of 2010;
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    A consolidated tax rate of 27.5 percent; and,
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    The exclusion from the guidance range of the effects in the second quarter of:
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    share-based payment expense or recovery;
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    mark-to-market gains or losses on commodity hedge positions settling in future periods; and,
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    the results of discontinued operations.




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Forward-Looking Statements
 Certain statements and other information included in this press release constitute forward looking
information within the meaning of applicable Canadian securities legislation or constitute
forward-looking statements within the meaning of applicable U.S. securities legislation
(collectively, the forward-looking statements). All statements in this press release, other than
those relating to historical information or current conditions, are forward-looking statements,
including, but not limited to, statements as to managements expectations with respect to business
and financial prospects and operations of Agrium. Such forward-looking statements involve known and
unknown risks and uncertainties as well as various assumptions and business sensitivities,
including those referred to in the MD&A section of the Corporations most recent Annual Report to
Shareholders as well as those risk factors described in the Corporations most recent Annual
Information Form, which may cause the actual results, performance or achievements of the
Corporation to be materially different from any future results, performance or achievements
expressed or implied by such forward-looking statements. Factors that could cause actual results to
differ materially from those in the forward-looking statements include, but are not limited to,
general economic, market and business conditions, weather conditions, crop prices, the supply and
demand and price levels for our major products, litigation risk as well as counterpart and
sovereign risk, governmental and regulatory requirements and actions by governmental authorities,
including changes in government policy, changes in environmental, tax and the interpretation
thereof and other laws or regulations and other risk factors detailed from time to time in Agriums
reports filed with securities regulators. Agrium disclaims any intention or obligation to update
or revise any forward-looking statements in this press release as a result of new information or
future events, except as may be required under applicable Canadian securities legislation or
applicable U.S. federal securities law. These forward-looking statements are based on certain
assumptions and analyses made by us in light of our experience and perception of historical trends,
current conditions and expected future developments as well as other factors we believe are
appropriate in the circumstances. All of the forward-looking statements contained herein are
qualified by these cautionary statements and by the assumptions that are stated or inherent in such
forward-looking statements. Although we believe these assumptions are reasonable, undue reliance
should not be placed on these assumptions and such forward-looking statements
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