OREANDA-NEWS. July 12, 2011. JSC Uralkali (LSE: URKA), one of the world’s largest potash producers, announces that, with effect fr om 8 July 2011, OJSC VTB Bank (“VTB Bank”) has replaced ING Bank (Eurasia) as custodian under Uralkali’s global depositary receipt (“GDR”) programme with The Bank of New York Mellon.

The change of the custodian was made in connection with certain requirements of the Russian Federal Service for Financial Markets ("FSFM") in order for Uralkali to be able to apply to the FSFM for increase of its GDR programme lim it from current 19.9 % up to 25 % of Uralkali issued share capital. 

Uralkali welcomes this appointment of VTB Bank by The Bank of New York Mellon and will enter into an amendment agreement to the deposit agreement as of 15 August 2006 between Uralkali and The Bank of New York Mellon to reflect this appointment.