On March 23, 2009, CF Industries Holdings, Inc. ("CF") issued a press release announcing that its board of directors has recommended that CF's stockholders reject Agrium Inc.'s offer to acquire all outstanding shares of CF. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Also on March 23, 2009, CF issued a press release announcing that its board of directors has reaffirmed its intention to pursue a business combination with Terra Industries Inc. A copy of the press release is attached hereto as Exhibit 99.2 and is incorporated herein by reference.

(d) Exhibits.

Exhibit No.   Description of Exhibit

       99.1   Press Release.

       99.2   Press Release