EXHIBIT INDEX
                                       TO
                                   FORM 10-Q
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EXHIBIT                                                                PAGE
NUMBER                           DESCRIPTION                          NUMBER
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<S>       <C>
2.1       Asset Purchase Agreement, dated as of May 21, 1996, by
          and among the Company, Mississippi Acquisition I, Inc.,
          Mississippi Acquisition II, Inc., Eddy Potash, Inc., and
          New Mexico Potash Corporation; filed as Exhibit 2.1 to
          the Company's Current Report on Form 8-K filed September
          3, 1996, SEC File No. 0-20411, and incorporated herein by
          reference.

2.2       Agreement and Plan of Merger and Reorganization, dated as
          of August 27, 1996, by and among the Company, MISS SUB,
          INC., and First Mississippi Corporation; filed as
          Exhibit 2.2 to the Company's Annual Report on Form 10-K
          for the fiscal year ended June 30, 1996, SEC File No. 0-
          20411, and incorporated herein by reference.

3.1       Articles of Incorporation of the Company; filed as
          Exhibit 3.1 to the Company's Amendment No. 1 to Form S-1
          Registration Statement filed August 2, 1994, SEC File
          No. 33-53119, and incorporated herein by reference.

3.2       Bylaws of the Company, filed as Exhibit 3.2 to the
          Company's Annual Report on Form 10-K for the fiscal year
          ended June 30, 1997, SEC File No. 1-12217.

4.1       Mississippi Phosphates Corporation 401(k) Retirement
          Plan; filed as Exhibit 4.3(a) to the Company's Post-
          Effective Amendment No. 1 to Form S-8 Registration
          Statement filed June 6, 1995, SEC File No. 33-59577, and
          incorporated herein by reference.

4.2       Mississippi Chemical Corporation Thrift Plan Plus; filed
          as Exhibit 4.3(b) to the Company's Post-Effective
          Amendment No. 1 to Form S-8 Registration Statement filed
          June 6, 1995, SEC File No. 33-59577, and incorporated
          herein by reference.

4.3       Mississippi Chemical Corporation 1994 Stock Incentive
          Plan; filed as Exhibit 4.2 to the Company's Form S-8
          Registration Statement filed December 21, 1995, SEC File
          No. 33-65209, and incorporated herein by reference.

4.4       Mississippi Chemical Corporation 1995 Stock Option Plan
          for Nonemployee Directors; filed as Exhibit 4.3 to the
          Company's Form S-8 Registration Statement filed
          December 21, 1995, SEC File No. 33-65209, and
          incorporated herein by reference.

4.5       Mississippi Chemical Corporation 1995 Restricted Stock
          Purchase Plan for Nonemployee Directors; filed as Exhibit
          4.4 to the Company's Form S-8 Registration Statement
          filed December 21, 1995, SEC File No. 33-65209, and
          incorporated herein by reference.

4.6       Shareholder Rights Plan; filed as Exhibit 1 to the
          Company's Form 8-A Registration Statement dated
          August 15, 1994, SEC File No. 2-7803, and incorporated
          herein by reference.

10.1      Agreement effective as of October 1, 1991, entered into
          by the Company's subsidiary Mississippi Phosphates
          Corporation for the exclusive distribution of diammonium
          phosphate produced by Mississippi Phosphates Corporation;
          filed as Exhibit 10.1 to Amendment No. 1 to the Company's
          Report on Form 8 dated January 7, 1993, SEC File No.
          2-7803, and incorporated herein by reference.

10.2      Amendment of Agreement, effective as of July 1, 1993, to
          the Agreement entered into as of October 1, 1991, by the
          Company's subsidiary Mississippi Phosphates Corporation
          for the exclusive distribution of diammonium phosphate
          produced by Mississippi Phosphates Corporation; filed as
          Exhibit 10.3 to the Company's Annual Report on Form 10-K
          for the fiscal year ended June 30, 1993, SEC File No. 2-
          7803, and incorporated herein by reference.

10.3      Amendment of Agreement, effective as of August 1, 1994,
          to the Agreement entered into as of October 1, 1991, by
          the Company's subsidiary Mississippi Phosphates
          Corporation for the exclusive distribution of diammonium
          phosphate produced by Mississippi Phosphates Corporation;
          filed as Exhibit 10.7 to the Company's Annual Report on
          Form 10-K for the fiscal year ended June 30, 1995, SEC
          File No. 2-7803, and incorporated herein by reference.

10.4      Agreement made and entered into as of September 15, 1991,
          between Office Cherifien des Phosphates and the Company's
          subsidiary Mississippi Phosphates Corporation for the
          sale and purchase of phosphate rock; filed as
          Exhibit 10.1 to the Company's Annual Report on Form 10-K
          for the fiscal year ended June 30, 1991, File No. 2-7803,
          and incorporated herein by reference.

10.5      Amendment No. 1, effective as of July 1, 1992, to the
          Agreement effective as of September 15, 1991, between
          Office Cherifien des Phosphates and the Company's
          subsidiary Mississippi Phosphates Corporation for the
          sale and purchase of phosphate rock; filed as
          Exhibit 10.12 to the Company's Annual Report on Form 10-K
          for the fiscal year ended June 30, 1995, SEC File
          No. 2-7803, and incorporated herein by reference1

10.6      Amendment No. 2, effective as of July 1, 1993, to the
          Agreement effective as of September 15, 1991, between
          Office Cherifien des Phosphates and the Company's
          subsidiary Mississippi Phosphates Corporation for the
          sale and purchase of phosphate rock; filed as Exhibit
          10.11 to the Company's Annual Report on Form 10-K for the
          fiscal year ended June 30, 1995, SEC File No. 2-7803, and
          incorporated herein by reference.2

10.7      Amendment No. 3, effective as of January 1, 1995, to the
          Agreement effective as of September 15, 1991, between
          Office Cherifien des Phosphates and the Company's
          subsidiary Mississippi Phosphates Corporation for the
          sale and purchase of phosphate rock; filed as
          Exhibit 10.10 to the Company's Annual Report on Form 10-K
          for the fiscal year ended June 30, 1995, SEC File No. 2-7803,
          and incorporated herein by reference.3

10.8      Amendment No. 4, effective as of January 1, 1997, to the
          Agreement effective as of September 15, 1991, between
          Office Cherifien des Phosphates and the Company's
          subsidiary Mississippi Phosphates Corporation for the
          sale and purchase of phosphate rock; filed as Exibit 10.8
          to the Company's Annual Report on Form 10-K for the
          fiscal year ended June 30, 1997, SEC File No. 1-12217,
          and incorported herein by reference.

10.9      Gas Sales Agreement entered into by the Company and Sonat
          Marketing Company as of July 13, 1995, for the sale and
          purchase of natural gas; filed as Exhibit 10.13 to the
          Company's Annual Report on Form 10-K for the fiscal year
          ended June 30, 1995, SEC File No. 2-7803, and
          incorporated herein by reference.4
<FN>
---------------------
     1
      Pursuant to the Securities Exchange Act of 1934, Rule 24b-2, 
confidential business information has been deleted from the first 
and second paragraphs of paragraph numbered 1 of Amendment No. 1 and 
an application for confidential treatment has been filed separately 
with the Commission.

     2
      Pursuant to the Securities Exchange Act of 1934, Rule 24b-2, 
confidential business information has been deleted from paragraphs numbered 
5 and 8 of Amendment No. 2; from the first paragraph, paragraph numbered 1, 
paragraph numbered 2, and paragraph numbered 3 of Schedule 1, Exhibit A; 
from Schedule 2, Exhibit B; from Schedule 3, Exhibit C, and from Schedule 4, 
Exhibit D; and an application for confidential treatment has been filed 
separately with the Commission.

     3
      Pursuant to the Securities Exchange Act of 1934, Rule 24b-2, 
confidential business information has been deleted from Schedule 1 to 
Amendment No. 3, Exhibit B, and an application for confidential treatment 
has been filed separately with the Commission.

     4
      Pursuant to the Securities Exchange Act of 1934, Rule 24b-2, 
confidential business information has been deleted from Article IV, Price, 
and an application for confidential treatment has been filed separately 
with the Commission.
------------------------


10.10     Agreement for Real Estate Purchase Option dated July 16,
          1990, for the sale of the Company's Hardee County,
          Florida, property and underlying phosphate reserves;
          filed as an exhibit to Exhibit 4.2 to the Company's
          Annual Report on Form 10-K for the fiscal year ended
          June 30, 1990, SEC File No. 2-7803, and incorporated
          herein by reference.

10.11     Form of Severance Agreement dated July 29, 1996, by and
          between the Company and each of its Executive Officers;
          filed as Exhibit 10.14 to the Company's Annual Report on
          Form 10-K for the fiscal year ended June 30, 1996, SEC
          File No. 2-7803, and incorporated herein by reference.

10.12     Credit Agreement dated as of December 23, 1996, by and
          among First Mississippi Corporation; AMPRO Fertilizer,
          Inc.; Harris Trust and Savings Bank, as Administrative
          Agent; Bank of Montreal, Chicago Branch, as Syndication
          Agent; Caisse Nationale de Credit Agricole and CIBC Inc.
          as Co-Agents; and the other lenders party thereto; filed
          as Exhibit 10.1 to the Company's Current Report on Form
          8-K filed January 6, 1997, SEC File No. 0-20411, and
          incorporated herein by reference.

10.13     Credit Agreement dated as of December 23, 1996, by and
          among Mississippi Chemical Corporation; Mississippi
          Phosphates Corporation; Mississippi Potash, Inc.; Harris
          Trust and Savings Bank, as Administrative Agent; Bank of
          Montreal, Chicago Branch, as Syndication Agent; Caisse
          Nationale de Credit Agricole and CIBC Inc. as Co-Agents;
          and the other lenders party thereto; filed as Exhibit
          10.2 to the Company's Current Report on Form 8-K filed
          January 6, 1997, SEC File No. 0-20411, and incorporated
          herein by reference.

10.14     Anhydrous Ammonia Purchase Agreement (AMRO) dated as of
          October 18, 1996, among Mississippi Chemical Corporation,
          Farmland Industries, Inc., and Farmland MissChem Limited
          whereby Mississippi Chemical Corporation and Farmland
          Industries, Inc., on an individual basis, will purchase
          from Farmland MissChem Limited, a portion of the total
          anhydrous ammonia output produced by its facility located
          on the island of Trinidad in The Republic of Trinidad and
          Tobago, which Agreement will be in place during the term
          of the AMRO permanent financing facility.

10.15     Anhydrous Ammonia Purchase Agreement (EX-IM) dated as of
          October 18, 1996, among Mississippi Chemical Corporation,
          Farmland Industries, Inc., and Farmland MissChem Limited
          whereby Mississippi Chemical Corporation and Farmland
          Industries, Inc., on an individual basis, will purchase
          from Farmland MissChem Limited, a portion of the total
          anhydrous ammonia output produced by its facility located
          on the island of Trinidad in The Republic of Trinidad and
          Tobago, which Agreement will be in place during the term
          of the EximBank permanent financing facility.

23        Consent of Arthur Andersen LLP; filed as Exhibit 23 to the 
          Company's Annual Report on Form 10-K for the fiscal year 
          ended June 30, 1997, SEC File No. 1-12217, and 
          incorporated herein by reference.

27        Financial Data Schedule.

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