Phosphate Holdings, Inc., Announces Retirement of CEO Robert E. Jones

Phosphate Holdings, Inc. (OTC: PHOS) today announced that Robert E. Jones, a veteran of nearly 40 years in the chemical and fertilizer industry, retired as Chief Executive Officer of Mississippi Phosphates Corporation and Phosphate Holdings, Inc.

The Board of Directors named Board member James L. Sherbert as interim CEO, effective immediately.

“Robert Jones’ long and outstanding career speaks to his keen business knowledge and leadership ability, and we appreciate the contributions he made to this company,” said W. Thomas Jagodinski, Chairman of the Board. “He has provided strong direction in an industry that is very volatile and led the restoration of our business in the aftermath of Hurricane Katrina.”

Phosphate Holdings, Inc. is a Delaware corporation and the sole stockholder of Mississippi Phosphates Corporation. Mississippi Phosphates Corporation is a Delaware corporation with its executive headquarters in Madison, Mississippi. Mississippi Phosphates Corporation owns and operates manufacturing facilities in Pascagoula, Mississippi, which produce diammonium phosphate, the most common form of phosphate fertilizer used as a source of phosphate on all major row crops.

This release may contain “forward-looking statements” within the meaning of the federal securities law, which are intended to qualify for the safe harbor from liability provided thereunder. All statements which are not historical statements of fact are “forward-looking statements” for purposes of these provisions and are subject to numerous risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements. Future events, risks and uncertainties that could cause a material difference in such results include, but are not limited to, (i) changes in matters which affect the global supply and demand of phosphate fertilizer products, phosphate rock, ammonia, sulfur and sulfuric acid, (ii) a variety of conditions in the agricultural industry such as grain prices, planted acreage, projected grain stocks, U.S. government policies, weather, and changes in agricultural production methods, (iii) changes in capital markets, (iv) possible unscheduled plant outages and other operating difficulties, (v) price competition and capacity expansions and reductions from both domestic and international competitors, (vi) foreign government agricultural policies (in particular, the policies of the governments of India and China), (vii) the relative unpredictability of international and local economic conditions, (viii) the relative value of the U.S. dollar, and (ix) regulations regarding the environment and the sale and transportation of fertilizer products. The company undertakes no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.

Phosphate (CE) (USOTC:PHOS)
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