Global fertilizer marketing agreement

(Nov. 26, 2001) Norsk Hydro, the oil and energy, light metals and agri group, confirms that Hydro and Sociedad Quimica y Minera de Chile S.A. (SQM) have signed an agreement to cooperate in the area of sales and marketing of specialty fertilizers as announced by SQM on Friday November 23, 2001.

The intention to sign such an agreement was announced by the two companies in May 2001. The agreement that has now been signed, replaces previous agreements between the two companies and will give benefits in terms of increased market coverage to both.

For Hydro, the move means that a big step towards the strategic goal of becoming a major player in the world market for specialty fertilizers is made.