IGL I M C Global

IMC Global Board of Directors Declares Preferred Stock Dividend; Common Stock Dividend Is Not Declared LAKE FOREST, Ill., Dec. 5 /PRNewswire-FirstCall/ -- The Board of Directors of IMC Global Inc. today declared a cash dividend of $0.9375 per share on the Company's 7.50% mandatory convertible preferred stock for the period October 1 through December 31, 2003. The dividend is payable on January 2, 2004 to mandatory convertible preferred stockholders of record at the close of business on December 15, 2003. The IMC Global Board of Directors also today did not declare a dividend on the Company's common stock for the quarter ending December 31, 2003. The most recent quarterly common stock dividend rate had been 2 cents per share. "The Board's decision regarding a common stock dividend reinforces our priority to sharply focus the Company's efforts on cash flow enhancement and balance sheet improvement," said Douglas A. Pertz, Chairman and Chief Executive Officer of IMC Global. "This action also is consistent with the strong cost savings and capital spending containment programs we have been implementing to ensure maximum financial flexibility and position IMC Global for significant upside leverage to improvements in global phosphate fertilizer market fundamentals," Pertz added. "As we see sustained expansion in phosphate profit margins, along with major improvement in our balance sheet, we will assess the timing and feasibility of reinstating a common stock dividend to accelerate shareholder returns." With 2002 revenues of $2.1 billion, IMC Global is the world's largest producer and marketer of concentrated phosphates and potash crop nutrients for the agricultural industry and a leading global provider of feed ingredients for the animal nutrition industry. For more information, visit IMC Global's Web site at imcglobal.com . DATASOURCE: IMC Global Inc. CONTACT: Investors and Media, David A. Prichard of IMC Global Inc., +1-847-739-1810, Web site: http://www.imcglobal.com/

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