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CF Industries Reports All Fertilizer Production Units Back In Operation At Its Donaldsonville, LA Nitrogen Complex

DEERFIELD, Ill.-(Business Wire)-September 25, 2008 - CF Industries Holdings, Inc. (NYSE:CF) today reported that all ammonia, urea, and UAN plants at its Donaldsonville, LA nitrogen complex have returned to production. The complex had undergone an orderly shutdown on August 31, prior to the arrival of Hurricane Gustav, to prevent damage from the storm.

“Our initial assessment proved accurate; there was no substantial damage to the complex and none of our employees were injured by the storm,” explained Stephen R. Wilson, chairman and chief executive officer, CF Industries Holdings, Inc.

Electrical power was restored to the complex on September 8^th, and a phased startup of the complex’s four ammonia, four urea, and two UAN plants began at that time. The last production unit, Urea Plant No. 2, started production yesterday.

CF Industries’ Wilson noted that, despite the loss of production, the company expects to meet all customer commitments for the fall season.

About CF Industries Holdings, Inc.

CF Industries Holdings, Inc., headquartered in Deerfield, Illinois, is the holding company for the operations of CF Industries, Inc. CF Industries, Inc. is a major producer and distributor of nitrogen and phosphate fertilizer products. CF Industries operates world-scale nitrogen fertilizer plants in Donaldsonville, Louisiana and Medicine Hat, Alberta, Canada; conducts phosphate mining and manufacturing operations in Central Florida; and distributes fertilizer products through a system of terminals, warehouses, and associated transportation equipment located primarily in the midwestern United States. The company also owns a 50 percent interest in KEYTRADE AG, a global fertilizer trading organization headquartered near Zurich, Switzerland.

Safe Harbor Statement

Certain statements contained in this presentation may constitute "forward-looking statements" within the meaning of federal securities laws. All statements in this presentation, other than those relating to historical information or current condition, are forward-looking statements. These forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from such statements. These risks and uncertainties include: the relatively expensive and volatile cost of North American natural gas; the cyclical nature of our business; changes in global fertilizer supply and demand and its impact on markets and selling prices; the nature of our products as global commodities; intense global competition in the consolidating markets in which we operate; conditions in the U.S. agricultural industry; weather conditions; our inability to accurately predict seasonal demand for our products; the concentration of our sales with certain large customers; the impact of changing market conditions on our forward pricing program; the reliance of our operations on a limited number of key facilities; the significant risks and hazards against which we may not be fully insured; reliance on third party transportation providers; unanticipated adverse consequences related to the expansion of our business; our inability to expand our business, including the significant resources that could be required; potential liabilities and expenditures related to environmental and health and safety laws and regulations; our inability to obtain or maintain required permits and governmental approvals; acts of terrorism; difficulties in securing the supply and delivery of raw materials we use and increases in their costs; losses on our investments in securities; loss of key members of management and professional staff; and the other risks and uncertainties included from time to time in our filings with the Securities and Exchange Commission. We undertake no obligation to update or revise any forward-looking statements.

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