##### Table of Contents



AGRIUM INC.



ANNUAL INFORMATION FORM

Year Ended December 31, 2003



March 26, 2004





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TABLE OF CONTENTS



|                              |                                          |  |  |  |  |  |  | 
|----------------------------- | ---------------------------------------- |  |  |  |  |  |  | 
|ANNUAL INFORMATION FORM INDEX
|                              | INTERPRETATION                          
|                              | NAME AND INCORPORATION                  
|INTERCORPORATE RELATIONSHIPS 
|                              | GENERAL DEVELOPMENT OF THE BUSINESS     
|                              | HISTORY                                 
|                              | NARRATIVE DESCRIPTION OF THE BUSINESS   
|                              | BUSINESS OF AGRIUM                      
|                              | COMPETITIVE POSITION                    
|                              | SOURCES OF RAW MATERIALS                
|                              | TRANSPORTATION, STORAGE AND DISTRIBUTION
|                              | ENVIRONMENTAL REGULATIONS               
|                              | EMPLOYEES                               
|                              | DIVIDENDS AND SECURITY CHARGES          
|                              | MARKET FOR SECURITIES                   
|                              | DIRECTORS AND EXECUTIVE OFFICERS        
|                              | ADDITIONAL INFORMATION                  
|EX-1                         
|EX-2                         
|EX-3                         
|EX-4                         
|EX-5                         
|EX-6                         
|EX-7                         



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##### Table of Contents






AGRIUM INC.
ANNUAL INFORMATION FORM INDEX

Following is an index of the Annual Information Form referencing the
requirements of Form 44-101F1 of the Ontario Securities Commission. Certain
portions of this Annual Information Form are disclosed in Agrium Inc.s
Managements Discussion & Analysis and Consolidated Financial Statements for
the year ended December 31, 2003 and are incorporated herein by reference as
noted below.

Page ReferenceIncorporated ByReference fromManagementsDiscussion &Analysis andAnnual
    
    ConsolidatedInformation
    
    FinancialForm
    
    StatementsItem 1 
    
    Cover Page
    
    
    1Index
    
    
    2-3Item 2 
    
    Corporate Structure2.1
    
    
    
    Name and Incorporation
    
    
    42.2
    
    
    
    Intercorporate Relationships
    
    
    4Item 3 
    
    General Development of the Business3.1
    
    
    
    History
    
    
    43.2
    
    
    
    Significant Acquisitions and
Significant Divestitures in Past
Three Years
    
    
    n/a3.3
    
    
    
    Trends
    
    
    
    
    
    16-17(1), 45-46(2)
    
    Commitments
    
    
    
    
    
    77(3)
    
    Contingencies
    
    
    
    
    
    40-41(4), 78(5)Item 4 
    
    Narrative Description of the Business4.1
    
    
    
    General
    
    
    5
    
    Principal Products and Services
    
    
    
    
    
    20-23(6)
    
    Competition
    
    
    5
    
    New Product Development
    
    
    
    
    
    41(7)
    
    Sources of Raw Materials
    
    
    5-6
    
    Transportation, Storage and
Distribution
    
    
    6
    
    Seasonality
    
    
    
    
    
    27(8)
    
    Environment
    
    
    6
    
    
    24(9)
    
    Employees
    
    
    6
    
    South American Operations
    
    
    
    
    
    41-42(10), 44(11)
    
    Other Key Risks and Uncertainties
    
    
    
    
    
    46-48(12)




---

|(1)  |  | Under the heading Overview of 2003.                                                            
|---- |  | -------------------------------------------------------------------------------------------------
|    
|(2)  |  | Under the heading Looking forward to 2004.                                                     
|    
|(3)  |  | Under the heading Note 18. Commitments.                                                        
|    
|(4)  |  | Under the heading Other developments in North America Wholesale 
Unocal Dispute.              
|    
|(5)  |  | Under the heading Note 19. Contingencies.                                                      
|    
|(6)  |  | Under the heading Our products & services.                                                     
|    
|(7)  |  | Under the heading Other developments in North America Wholesale 
New Product Development.     
|    
|(8)  |  | Under the heading Seasonality.                                                                 
|    
|(9)  |  | Under the heading Understanding our performance  Environment and
asset retirement obligations.
|    
|(10) |  | Under the heading South America Wholesale operations.                                          
|    
|(11) |  | Under the heading South America Retail operations.                                             
|    
|(12) |  | Under the heading Key risks and uncertainties.                                                 



Index continued on next page



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AGRIUM INC.
ANNUAL INFORMATION FORM INDEX (CONTINUED)

Page ReferenceIncorporated ByReference fromManagement'sDiscussion &Analysis andAnnual
    
    ConsolidatedInformation
    
    FinancialForm
    
    StatementsItem 5 
    
    Selected Consolidated Financial Information5.1
    
    
    
    Annual Information
    
    Consolidated Statements of Operations
and Retained Earnings
    
    
    
    58(13)
    
    Consolidated Statements of Cash Flows
    
    
    
    59(13)
    
    Consolidated Balance Sheets
    
    
    
    60(13)
    
    Notes to Consolidated Financial
Statements
    
    
    
    61-86(13)5.2
    
    
    
    Quarterly Information
    
    
    
    28(14)5.3
    
    
    
    Dividends
    
    7Item 6 
    
    Managements Discussion & Analysis
    
    
    
    16-48(15)Item 7 
    
    Market for Securities
    
    7Item 8 
    
    Directors and Officers
    
    7-9Item 9 
    
    Additional Information
    
    9-10Item 10 
    
    Forward-Looking Statements
    
    
    
    49(16)




---

|(13) |  | Under the heading Financial statements and notes.                                        
|---- |  | -------------------------------------------------------------------------------------------
|    
|(14) |  | Under the heading Performance highlights.                                                
|    
|(15) |  | Under the heading Managements discussion & analysis of operations
& financial condition.
|    
|(16) |  | Under the heading Forward  looking statements.                                          



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INTERPRETATION

In this Annual Information Form, unless the context otherwise indicates,
Agrium refers to Agrium Inc., its subsidiaries and any partnership of which
Agrium and its subsidiaries are the partners, and Corporation refers to the
corporate entity, Agrium Inc. References to dollars, $, and U.S.$ are to
United States dollars.




NAME AND INCORPORATION

Agrium Inc. was incorporated by Articles of Incorporation under the Canada
Business Corporations Act on December 21, 1992. The Corporations head office
and principal place of business is located at 13131 Lake Fraser Drive S.E.,
Calgary, Alberta, T2J 7E8.




INTERCORPORATE RELATIONSHIPS

Principal Subsidiaries
    
    Jurisdiction of Incorporation& Associated Companies
    
    or Organization
    
    OwnershipAGRIUM, a general partnership
    
    Alberta
    
    
    100
    %Agrium U.S. Inc.
    
    Colorado
    
    
    100
    %Agrium Nitrogen Company
    
    Colorado
    
    
    100
    %Crop Production Services, Inc.
    
    Delaware
    
    
    100
    %Western Farm Service, Inc.
    
    Delaware
    
    
    100
    %Agroservicios Pampeanos S.A.
    
    Argentina
    
    
    100
    %Nu-West Industries, Inc.
    
    Delaware
    
    
    100
    %Viridian Inc.
    
    Canada
    
    
    100
    %Viridian Fertilizers Limited
    
    Canada
    
    
    100
    %Profertil S.A.
    
    Argentina
    
    
    50
    %Canpotex Limited
    
    Canada
    
    
    33 1/3
    %





GENERAL DEVELOPMENT OF THE BUSINESS




HISTORY

Agrium was formed to facilitate the reorganization of the fertilizer division
of Cominco Ltd. and the acquisition of the fertilizer assets of Alberta Energy
Company Ltd. in 1993.

From 1993 to 1996, Agrium expanded its fertilizer activities by acquiring Crop
Production Services, Inc. and Western Farm Service, Inc., both of which serve
the U.S. retail agricultural industry in the Northwest, Northeast, Midwest and
California markets. Agrium also acquired Nu-West Industries, Inc. in 1995,
which produces phosphate-based fertilizer products from a plant located in
Idaho.

In late 1995, Agrium began establishing retail sales outlets in the major
agricultural areas of Argentina, which offer fertilizer, agricultural chemicals
and related services. By the end of 1997, Agrium had established 18 retail farm
centres in Argentina. Agrium has a 50 percent interest in a joint venture,
Profertil S.A., which has constructed a world-scale ammonia and urea production
facility in Argentina. The facility achieved commercial production levels in
2001 and, on November 30, 2001, Profertil obtained the release of completion
guarantees on the facility. This release resulted in the long-term project
financing becoming non-recourse to Agrium.

In December 1996, Agrium merged with Viridian Inc., which operated nitrogen and
phosphate-based fertilizer plants at Fort Saskatchewan and Redwater, Alberta.
In late 1997, Agrium acquired a phosphate rock mine located close to its
phosphate producing plant in Idaho. In 1998, Agrium commenced development of a
phosphate rock mine and mill in Kapuskasing, Ontario which commenced operation
in 1999. Full production levels were achieved in the second half of 2001. In
September 2000, Agrium acquired an Alaskan nitrogen facility and related U.S.
West Coast assets from Union Oil Company of California (Unocal). There have
been no further significant acquisitions or divestitures since 2000.



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NARRATIVE DESCRIPTION OF THE BUSINESS




BUSINESS OF AGRIUM

Agrium is a leading global producer and marketer of agricultural nutrients and
industrial products and a major retail supplier of agriculture products and
services in both North America and Argentina. Agrium is one of the top two
nitrogen producers in the world with approximately three percent of the
nitrogen market.

Agrium produces a full range of fertilizers. Nitrogen-based fertilizers are
produced in Alberta, Canada at five plants located at Carseland, Fort
Saskatchewan, Joffre, Redwater and Standard/Granum. Sulphur and phosphate-based
fertilizers are also produced at the Redwater plant which utilizes phosphate
ore from Agriums phosphate mine located at Kapuskasing, Ontario. Additionally,
Agrium owns and operates a potash mine and production facility at Vanscoy,
Saskatchewan. In the United States, Agrium owns and operates five
nitrogen-based fertilizer production plants at Beatrice, Nebraska, Borger,
Texas, Kenai, Alaska, Kennewick, Washington and West Sacramento, California and
one phosphate-based fertilizer production facility near Soda Springs, Idaho.
Agrium owns and operates a micronutrient facility at Reese, Michigan. Agrium is
also a 50 percent participant in the Profertil joint venture that owns and
operates a world scale nitrogen-based fertilizer plant in Bahia Blanca,
Argentina.

Agrium has an extensive storage and wholesale distribution network serving
Western Canada, the Pacific Northwest, California, the Midwest Cornbelt and the
Great Plains regions of the United States.

Agrium has two phosphate rock mines, which supply plants at Redwater, Alberta
and Conda, Idaho. These mines result in enhanced security of supply.

Agriums North America Retail segment is one of the largest and most
geographically diverse farm retailers in the United States. With 206 retail
facilities in the United States as of December 31, 2003, Agrium provides
fertilizers, crop protection products, seeds and services to growers in 22
states, principally in the U.S. Northwest, Northeast, Midwest and California.
Agrium also owns and operates 18 retail farm centres in Argentina.




COMPETITIVE POSITION

The market for Agriums nitrogen, phosphate and potash is highly competitive.
Agriums competitors include other large integrated fertilizer producers,
cooperatives, divisions of agribusiness companies, regional distributors and
independent dealers.

Nitrogen-based fertilizer is a global commodity, and customers, including
end-users, dealers and other fertilizer producers and distributors, base their
purchasing decisions principally on the delivered price and availability of the
product. The relative cost of, and availability of transportation for, raw
materials and finished products to manufacturing facilities are also important
competitive factors. Agrium competes with a number of producers in North
America and other countries, including state-owned and government-subsidized
entities.

Competition in the phosphate and potash fertilizers market is based largely on
price, reliability and deliverability. The relative cost and availability of
mines and the efficiency of production facilities are also important
competitive factors. Domestic competitors for phosphate and potash include a
number of large producers. In addition, the production and trade of phosphate
and potash have become increasingly global and a number of foreign competitors
produce phosphate and potash primarily for the export market.




SOURCES OF RAW MATERIALS

Natural gas is the primary raw material used in the production of
nitrogen-based fertilizer. At current North American natural gas prices,
natural gas accounts for almost 90 percent of the cash cost of producing
ammonia, the building block for all nitrogen products. Total annual natural gas
consumption by Agriums North and South American fertilizer operations
operating at full capacity is approximately 180 billion cubic feet. The
ammonia operations are well located with respect to gas supplies and
deliverability.

Agriums natural gas requirements for its nitrogen facilities in Kenai, Alaska
and the Profertil facility in Argentina are supplied under fixed base-price
contracts subject to adjustments. The Kenai gas contract is subject to dispute.
Details of the dispute with Unocal are set out in Managements Discussion &
Analysis on pages 40 to 41 of the 2003 Annual Report and note 19 to the audited
Consolidated Financial Statements of Agrium on page 78 of the 2003



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Annual Report, which is incorporated herein by reference. The remainder of
Agriums natural gas requirements for its other facilities is purchased from a
number of suppliers under contracts that contain mostly one-year terms, with
some longer-term contracts in place with its major suppliers. Natural gas
prices under these contracts are generally market indexed with hedging employed
to reduce the impact of the volatility of gas prices. Small amounts of spot
market gas are used to meet peak requirements.

Phosphate rock, sulphuric acid, ammonia and sulphur are the principal phosphate
fertilizer raw materials and account for the major cost elements in the
manufacture of phosphate. The Kapuskasing phosphate rock mine and mill came on
stream in 1999. It provides a long-term supply of the phosphate rock required
by the Redwater plant with a capacity of approximately 1.1 million tonnes
annually and has an estimated reserve life of greater than 15 years. Phosphate
rock for the Conda, Idaho plant is supplied by a nearby mine which was acquired
by Agrium in late 1997. It is expected that this mine will continue to satisfy
the plants phosphate rock requirements for approximately eight more years
based on current capacity. In addition, Agrium currently has access to
additional reserves of phosphate rock, which are located on lands leased
primarily from federal and state governments under long-term leases.

Agriums potash mine in Saskatchewan has sufficient ore reserves to maintain
current production for well over 50 years.




TRANSPORTATION, STORAGE AND DISTRIBUTION

A significant portion of delivered costs of fertilizer products to certain
customers is attributable to transportation. Agrium has entered into various
rail, pipeline and other transportation agreements to provide reliable and
competitive transportation services. Agrium leases approximately 2,800 rail
tank and hopper cars, some of which are specially designed to transport
fertilizer products. This fleet is supplemented by railroad-supplied cars as
needed to meet peak-season transportation requirements. Agrium owns
atmospheric, pressurized anhydrous ammonia storage, dry product, and liquid
product facilities at locations in Western Canada, the Pacific Northwest,
California, the Midwest Cornbelt and the Great Plains regions of the United
States. These facilities, when combined with storage capability at the
production facilities, provide a network of field and production site storage
capacity sufficient to meet customer requirements.




ENVIRONMENTAL REGULATIONS

Our operations are subject to a variety of federal, provincial, state and local
laws and regulations, some of which relate to the remediation of existing
environmental conditions while others require that certain work be carried out
at the time of plant closure, or when the specific asset is retired. The most
restrictive of these requirements are typically issued to Agrium in the form of
permits, approvals, authorizations and licenses that are intended to protect
employees from injury and illness and the environment and community from harm.
The laws and regulations may limit or regulate operating conditions, rates and
efficiency; land, water and raw material use and management; product storage,
quality and transportation; waste storage and disposal; emissions and other
discharges. Asset retirement obligations are often stipulated in our facility
operating licenses and permits, although they may also arise from contractual
obligations and other legal requirements then in effect. For facilities with
these stipulations, asset retirement obligations typically involve the removal
of the asset, remediation of any contamination resulting from the use of that
asset and reclamation of the land.




EMPLOYEES

As of December 31, 2003 Agrium employed 4,667 people  3,042 in the United
States 1,422 in Canada and 203 in Argentina. In total, 1,985 people are
employed in the North America Wholesale business segment, 2,229 in the North
America Retail business segment, 250 in Corporate Administration, 202 in the
South America Retail business segment and one person in the South America
Wholesale business segment. The other employees of the South America Wholesale
business segment are not included in the total of 4,667 employees as those
staff are employees of Profertil and are not employees of Agrium.

Hourly employees at the following plants are represented by labor unions with
the contract expiration date for each plant shown in parenthesis: Fort
Saskatchewan, Alberta (December 31, 2006); Kenai, Alaska (April 1, 2005);
Vanscoy, Saskatchewan (April 30, 2006); Beatrice, Nebraska (November 16, 2006).

Management believes that it has good relations with both its unionized and
non-unionized employees.



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DIVIDENDS AND SECURITY CHARGES

The Corporations present intention is to pay regular dividends on its common
shares. A semi-annual cash dividend of U.S.$0.055 per share has been paid
since January 1998. The declaration, amount and date of payment of dividends
is determined by the Board of Directors from time to time and will be subject
to earnings and financial requirements, and other conditions prevailing at that
time.

The Corporation has the option to defer payment of securities charges on its
eight percent junior subordinated debentures for up to 20 consecutive periods,
subject to certain restrictions. Its present intention is to pay these
securities charges when they are due and payable. Since issuing the
subordinated debentures, all charges have been paid when due.

During 2003, the Corporation issued a redemption notice on the outstanding
$50-million six percent junior subordinated debentures. Subsequent to December
31, 2003, all holders of the six percent junior subordinated debentures elected
to convert the debentures into common shares at the stated conversion price.
Details of the redemption notice and subsequent conversion are disclosed in
note 16 to the audited Consolidated Financial Statements of Agrium on page 74
of the 2003 Annual Report, which is incorporated herein by reference.




MARKET FOR SECURITIES

The Common Shares of the Corporation are listed for quotation and trading on
the Toronto Stock Exchange and the New York Stock Exchange under the symbol:
AGU. The Corporations $175-million principal amount of eight percent junior
subordinated debentures are listed on the New York Stock Exchange under the
symbol: AGU Pr.




DIRECTORS AND EXECUTIVE OFFICERS

Information is given below with respect to each of the current Directors,
including all current positions held with the Corporation, present principal
occupation and principal occupations during the last five years. The term of
office of each Director expires at the end of the 2004 Annual General Meeting.

Year first becameName and
    
    Director of theMunicipality of Residence
    
    Corporation
    
    Present principal occupation or employmentFrank W.
Proto(1)(4)
Regina, Saskatchewan
    
    
    1993
    
    
    Corporate Director. Board Chair of Agrium Inc.John M. Van Brunt
Calgary, Alberta
    
    
    1993
    
    
    Board Vice Chair of Agrium Inc.
Corporate Director. President of TheNeil Carragher(2)(3)
Toronto, Ontario
    
    
    1996
    
    
    Corporate Partnership Ltd. (a mergers and
acquisitions company)Ralph S.
Cunningham(1)(2)
Montgomery, Texas
    
    
    1996
    
    
    Corporate Director.
Corporate Director. Farmer and rancher.D. Grant
Devine(3)(4)
Regina, Saskatchewan
    
    
    1993
    
    
    President, Grant Devine Farms and Consulting
Services Ltd.Susan A.
Henry(1)(4)
Ithaca, New York
    
    
    2001
    
    
    Ronald P. Lynch Dean of the College of
Agriculture and Life Sciences and Professor at
Cornell University, Ithaca, New York.
Corporate Director. President & Chief
Executive Officer, Metropolitan InvestmentFrank W.
King(3)(4)
Calgary, Alberta
    
    
    1996
    
    
    Corporation (a private venture capital and
management company)




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Year first becameName and
    
    Director of theMunicipality of Residence
    
    Corporation
    
    Present principal occupation or employmentG. Woody MacLaren(2)(4)
Dornoch, Scotland
    
    
    1993
    
    
    Chair of Macluan Capital Corporation (a
private international investment
company)Harry G. Schaefer,
FCA(1)(3)
Calgary, Alberta
    
    
    1998
    
    
    Corporate Director and Business Advisor.T. Don Stacy(2)(3)
Houston, Texas
    
    
    1995
    
    
    Corporate Director.Michael M. Wilson
Bragg Creek, Alberta
    
    
    2003
    
    
    President & Chief Executive Officer of
Agrium Inc.Victor J. Zaleschuk,
CA(1)(2)
Calgary, Alberta
    
    
    2002
    
    
    Corporate Director.




---

|(1) |  | Member of the Audit Committee.                         
|--- |  | -------------------------------------------------------
|   
|(2) |  | Member of the Human Resources & Compensation Committee.
|   
|(3) |  | Member of Corporate Governance & Nominating Committee. 
|   
|(4) |  | Member of the Environment, Health & Safety Committee.  

All directors have held the office and principal occupation identified above
for not less than five years except as follows: Dr. Henry, prior to July,
2000, was Dean of Science at Carnegie Mellon University; Mr. Van Brunt, prior
to October, 2003, was Vice Chair & Chief Executive Officer of the Corporation
and, prior to October, 2002, was President & Chief Executive Officer of the
Corporation; Mr. Wilson, prior to October, 2003, was President & Chief
Operating Officer of the Corporation, prior to October, 2002, was Executive
Vice President & Chief Operating Officer of the Corporation and, prior to
August, 2000, was Executive Vice President of Methanex Corporation (a chemical
company); and, Mr. Zaleschuk, prior to June, 2001, was President & Chief
Executive Officer of Nexen Inc. (a natural resource company).

Executive Officers

Name and Municipality
    
    Position with the Corporationof Residence
    
    And Principal OccupationFrank W. Proto
Regina, Saskatchewan
    
    Board Chair.John M. Van Brunt
Calgary, Alberta
    
    Board Vice Chair.Michael M. Wilson
Bragg Creek, Alberta
    
    President & Chief Executive Officer.Garnet K. Amundson
Calgary, Alberta
    
    Vice President & Controller.Dorothy E.A. Bower
Calgary, Alberta
    
    Vice President, Strategic Development & Planning.Patrick J. Freeman
Calgary, Alberta
    
    Vice President & Treasurer.Richard L. Gearheard
Centennial, Colorado
    
    Senior Vice President, North America Retail.James M. Grossett
DeWinton, Alberta
    
    Vice President, Human Resources.




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Name and Municipality
    
    Position with the Corporationof Residence
    
    And Principal OccupationWilliam C. McClung
Calgary, Alberta
    
    Vice President, Manufacturing.Leslie A. ODonoghue
Calgary, Alberta
    
    Vice President, General Counsel & Corporate
Secretary.Christopher W. Tworek
Calgary, Alberta
    
    Vice President, Supply Management.Robert J. Rennie
Lethbridge, Alberta
    
    Vice President, Corporate Affairs/South America.Bruce G. Waterman
Calgary, Alberta
    
    Senior Vice President, Finance & Chief Financial
Officer.Ronald A. Wilkinson
Calgary, Alberta
    
    Vice President, Operations & Technology.John D. Yokley
Calgary, Alberta
    
    Senior Vice President, Marketing & Distribution.


All of the officers have held the office and principal occupation identified
above or a substantially similar position for not less than five years with the
exception of: Mr. Van Brunt, prior to October, 2003, was Vice Chair & Chief
Executive Officer of the Corporation and, prior to October, 2002, was President
& Chief Executive Officer of the Corporation; Mr. Wilson, prior to October,
2003, was President & Chief Operating Officer of the Corporation, prior to
October, 2002, was Executive Vice President & Chief Operating Officer of the
Corporation, and, prior to August, 2000, was Executive Vice President of
Methanex Corporation (a chemical company); Mr. Amundson, prior to April, 2002,
was Controller of Canadian Hunter Exploration Ltd. (a natural resource
company); and, prior to September, 2001, held various finance management roles
at Talisman Energy Inc. (a natural resource company); Ms. Bower, prior to July,
1999, was Vice President, General Counsel & Corporate Secretary of the
Corporation; Mr. Grossett, prior to April, 2002, was Senior Vice President,
Human Resources at Molson Inc. (a brewing company), and prior to April, 1999,
was Senior Vice President, Human Resources of Coca-Cola Beverages Ltd. (a
beverage company); Mr. McClung, prior to August, 2003, was Vice President,
Operations of the Corporation and, prior to September, 1999, was General
Manager, Potash operations of the Corporation; Ms. ODonoghue, prior to
October, 1999, was a partner at the law firm of Blake Cassels & Graydon; Mr.
Tworek, prior to July, 1999, was Vice President, Transportation & Logistics of
the Corporation; Dr. Rennie, prior to October, 2003, was Vice President, South
America of the Corporation; Mr. Waterman, prior to April, 2000, was Vice
President Finance and Chief Financial Officer of Talisman Energy Inc., (a
natural resource company); Mr. Wilkinson, prior to August, 2003, was Director,
Technical Services of the Corporation and, prior to May, 2001, was General
Manager, Operations & Marketing of Profertil; and, Mr. Yokley, prior to July,
1999, was Vice President, Marketing of the Corporation.

Directors and officers as a group beneficially own, directly or indirectly, or
exercise control or direction over approximately 373,368 common shares or 0.295
percent of the common shares outstanding as at December 31, 2003.




ADDITIONAL INFORMATION

Additional information, including directors and officers remuneration and
indebtedness, principal holders of the Corporations securities, options to
purchase securities and interest of insiders in material transactions, where
applicable, is provided in the Corporations management proxy circular for its
most recent annual meeting of shareholders that involved the election of
directors, and additional financial information as provided in Agriums
consolidated financial statements for its most recently completed financial
year.



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The Corporation will provide to any person, upon request made to the Corporate
Secretary of Agrium Inc., 13131 Lake Fraser Drive S.E., Calgary, Alberta, T2J
7E8:



|(a) |  | When securities of the Corporation are in the course of a distribution
pursuant to a short form prospectus or a preliminary short form prospectus
has been filed and respecting a distribution of its securities;
|--- |  | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (i) |  | one copy of this annual information form, together with one copy
of any document, or the pertinent pages of any document, incorporated
by reference herein;
| | --- |  | -----------------------------------------------------------------------------------------------------------------------------------------------------------



| | (ii) |  | one copy of the consolidated financial statements of the
Corporation for its most recently completed financial year, together
with the accompanying report of its auditor, and one copy of any
interim financial statements of the Corporation subsequent to the
financial statements for its most recently completed financial year;
| | ---- |  | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (iii) |  | one copy of the management proxy circular of the Corporation
with respect to its most recent annual meeting of shareholders that
involved the election of directors; and
| | ----- |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (iv) |  | one copy of any documents that are incorporated by reference into
the preliminary short form prospectus or the short form prospectus and
are not required to be provided under items (i) to (iii) above; or
| | ---- |  | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



|(b) |  | at any time, one copy of any other documents referred to in items
(a) (i), (ii) and (iii) above.
|--- |  | ------------------------------------------------------------------------------------------------



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