Potash One Inc.
TSX : KCL

Potash One Inc.

December 23, 2008 11:01 ET

Potash One Appoints William Harris as a Director

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 23, 2008) - Potash One Inc. (the "Company" or "Potash One") (TSX:KCL) is pleased to announce the appointment of William B. Harris to the Company's board of directors.

Mr. William B. Harris, B.A., M.B.A., received his B.A. in English at Harvard College and his M.B.A. in finance at Columbia University. He is a partner of Solo Management Group, LLC, an investment and management consulting partnership. Mr. Harris was previously on the board of directors of Energy Metals Corporation and was also Chairman and Executive Committee member of the American Fiber Manufacturers Association.

Mr. Harris is the former President and CEO of Hoechst Fibers Worldwide, a company involved in the global acetate and polyester business of Hoechst AG, wherein he managed their $5 billion business operation, comprised of 21,000 employees and production locations in 14 different countries.

Within Hoechst AG and its subsidiaries, Mr. Harris held various positions which included, the Chairman of the Board of Grupo Celanese S.A., a publicly traded company in Mexico with sales of more than $1 billion, VP Finance, CFO, Executive Vice President and Director of Celanese Canada Inc. a publicly-traded company in Canada. He was also Vice President, Treasurer and Chairman of the Audit Committee of Hoechst Celanese Corporation.

Paul Matysek, President and CEO, stated: "Mr. Harris has more than three decades of experience in dealing with public companies and will make an excellent addition to the board of directors of Potash One. I extend a warm welcome to Bill on behalf of Potash One and the Board. Senior management looks forward to working with him again and utilizing his knowledge and expertise in enhancing and developing the value of Potash One."

The Board of Directors also announces that Mr. William Lupien has resigned as a director of Potash One effective as of December 23, 2008. Bill has decided to retire from all the public company boards and positions he holds to focus on his personal pursuits and family. Mr. Lupien remains a committed shareholder and has been retained as an advisor to the Company.

The Company would like to thank Mr. Bill Lupien for his hard work and dedication throughout 2008. David Berg, Chairman of the Board, stated that: "He was an esteemed member of the board and his candor and insights were much appreciated."

ON BEHALF OF THE BOARD OF DIRECTORS,

Paul F. Matysek, M.Sc., P.Geo., President and Chief Executive Officer

About Potash One Inc.

Potash One Inc. is a TSX listed Canadian resource company engaged in the exploration and development of advanced potash properties amenable to solution mining. The Company owns 100% of more of 330,000 acres of contiguous Potash Subsurface Exploration Permits in Saskatchewan, Canada. It includes the 97,240 acre Legacy Project which has NI 43-101 compliant Inferred Mineral Resource of 391.5 million tonnes of K2O and Indicated Mineral Resource of 40.8 million tonnes of K2O and is adjacent to the largest producing solution potash mine in the world.

Contact Information

  • Potash One Inc.
    Paul F. Matysek, M.Sc., P.Geo.
    President and Chief Executive Officer
    (604) 331-4431
    (604) 408-4799 (FAX)
    Email: info@potash1.com
    Website: www.potash1.com