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CERTIFICATION
PURSUANT TO 18 U.S.C. SECTION 1350, AS ENACTED PURSUANT
TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

Agrium Inc. (the Company) is filing its annual report on Form 40-F for
the fiscal year ended December 31, 2002 (the Report) with the Securities and
Exchange Commission.

I, Bruce G. Waterman, Senior Vice President, Finance & Chief Financial
Officer of the Company, certify, pursuant to 18 U.S.C. section 1350, as enacted
pursuant to section 906 of the Sarbanes-Oxley Act of 2002, that:



| | 1. |  | the Report fully complies with the requirements of Section 13(a) or
15(d) of the Securities Exchange Act of 1934; and                               
| | -- |  | ----------------------------------------------------------------------------------------------------------------------------------------------------
|
| | 2. |  | the information contained in the Report fairly presents, in all
material respects, the financial condition and results of operations of
the Company.



|                      |  |                                                                                                                                                                                                                            
|--------------------- |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|Dated: April 3, 2003. |  | /s/ Bruce G. Waterman                                                                                                                                                                                                      
|                      |  |                                                                                                                                                                                                                            
|                      |  | Bruce G. Waterman                                                                                                                                                                                                          
|                      |  | Senior Vice President, Finance &                                                                                                                                                                                           
|                      |  | Chief Financial Officer                                                                                                                                                                                                    
|                      |  |                                                                                                                                                                                                                            
|                      |  | A signed original of this written statement
required by Section 906 has been provided
to Agrium Inc. and will be retained by
Agrium Inc. and furnished to the Securities
and Exchange Commission or its staff upon
request.
|                      |  |                                                                                                                                                                                                                            

This certification accompanies the annual report on Form 40-F pursuant to 18
U.S.C. Section 1350, as enacted pursuant to Section 906 of the Sarbanes-Oxley
Act of 2002, and shall not, except to the extent required by 18 U.S.C. Section
1350, as enacted pursuant to the Sarbanes-Oxley Act of 2002, be deemed filed by
Agrium Inc. for the purposes of Section 18 of the Securities Exchange Act of
1934.