Royster-Clark completes C$325 million initial public offering of IDSs in Canada

On July 22, 2005, Royster-Clark, Inc. (RCI) and its parent Royster-Clark Group, Inc. (RCG) completed their C$325 million initial public offering in Canada of income deposit securities (IDSs). Gross proceeds of the offering will be C$341.8 million if the underwriters fully exercise their over-allotment option. The underwriters included CIBC World Markets Inc., BMO Nesbitt Burns Inc., RBC Dominion Securities Inc., Scotia Capital Inc., National Bank Financial Inc., TD Securities Inc., Canaccord Capital Corporation and Raymond James Ltd.

Royster-Clark, with divisions in Virginia and New York, distributes agricultural fertilizer and seed and crop protection products, and provides agronomic services. Two RCI affiliates, Royster-Clark Ltd., a newly formed Ontario company, and Royster-Clark ULC, a newly formed Nova Scotia company, will issue the IDSs, which will consist of common shares of Royster-Clark Ltd. and subordinated notes of Royster-Clark ULC. Royster-Clark Ltd. will hold all of the issued and outstanding Class A common shares of Royster-Clark Holdings, Inc. (RC Holdings) and Royster-Clark ULC will hold all of the issued and outstanding preferred shares of RC Holdings. RC Holdings will hold all of the issued and outstanding common shares of RCI. Existing investors in RCG will hold all of the Class B and Class C common shares of RC Holdings.