OREANDA-NEWS. January 28, 2013. PhosAgro (or "the Company") (Moscow Exchange, LSE: PHOR), a leading global vertically integrated phosphate-based fertilizer producer, announces that the Board of Directors 24 January 2013 has established the Company’s Management Board and appointed its members.

The Management Board will consist of

• Maxim Volkov, CEO and member of the Board of Directors;

• Mikhail Rybnikov, Chief Operating Officer;

• Andrey Guryev, PhosAgro Deputy CEO and Head of Commerce;

• Roman Osipov, Director of Business Development and member of the Board of Directors;

• Alexander Sharabaiko, CFO.

The Board of Directors also approved PhosAgro Management Board members holding management positions at other companies.

Changes to the management structure of PhosAgro by way of creation of a Management Board was approved by shareholders at an Extraordinary General Meeting on 29 December 2012.

PhosAgro views creation of the Management Board as a further step in its efforts to implement best practices in corporate governance.