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    ST. PAUL, Minn., Jan. 11 /PRNewswire-FirstCall/ -- CHS Inc. (Nasdaq:  
 CHSCP), a leading energy and grain-based foods company, today announced
 record earnings of $300.9 million for the first quarter of its 2008 fiscal
 year.
 
     Net income for the quarter (Sept. 1 - Nov. 30, 2007) compared with
 $136.4 million for the same period of fiscal 2007. Revenues for the quarter
 were $6.5 billion, an increase from $3.8 billion for the first quarter of
 fiscal 2007. This was driven by higher prices for grain and energy along
 with the inclusion, for the first time, of crop nutrients sales, which
 previously had been part of a joint venture.
 
     CHS earnings reflected solid performance for each of its three business
 segments. Energy earnings remained strong, comparable to results for the
 first quarter of fiscal 2007. Also within the energy segment, CHS propane,
 lubricants, renewable fuels marketing and transportation businesses
 exceeded fiscal 2007 performance for the quarter.
 
     Earnings within the Ag Business segment set a new mark, reflecting
 record performance in grain marketing and CHS retail operations. Ag
 Business earnings also included a gain of $91.7 million on the company's
 sale of stock in CF Industries, a crop nutrients manufacturer. Record grain
 marketing earnings were driven by strong domestic and export market demand.
 CHS retail operations reported strong performance due to increased sales of
 farm inputs and energy products and good grain movement. CHS also reported
 strong performance from its newly acquired crop nutrients business.
 
     The company's Processing segment results reflected improved performance
 over fiscal 2007 for its wholly owned oilseed processing operations as well
 as its portions of the Ventura Foods, LLC, food company and Horizon
 Milling, LLC, wheat milling joint venture. CHS also reported strong
 performance from its financing, insurance services and hedging businesses.
 
     CHS Inc. (http://www.chsinc.com) is a diversified energy, grains and
 foods company committed to providing the essential resources that enrich
 lives around the world. A Fortune 200 company, CHS is owned by farmers,
 ranchers and cooperatives, along with thousands of preferred stockholders,
 from the Great Lakes to the Pacific Northwest and from the Canadian border
 to Texas. CHS supplies energy, crop nutrients, grain, livestock feed, food
 and food ingredients, along with business solutions including insurance,
 financial and risk management services. The company operates petroleum
 refineries/pipelines and manufactures, markets and distributes Cenex(R)
 brand refined fuels, lubricants, propane and renewable energy products.
 
     This document contains forward-looking statements within the meaning of
 The Private Securities Litigation Reform Act of 1995 that are based on
 management's current expectations and assumptions. These forward-looking
 statements are subject to certain risks and uncertainties that could cause
 actual results to differ materially from the potential results discussed in
 the forward-looking statements. The company undertakes no obligations to
 publicly revise any forward-looking statements to reflect future events or
 circumstances. For a discussion of additional factors that may materially
 affect management's estimates and predictions, please view the CHS Inc.
 annual report filed on Form 10-K for the year ended Aug. 31, 2007, which
 can be found on the Securities and Exchange Commission web site
 (http://www.sec.gov) or on the CHS web site http://www.chsinc.com.
 
 

 
                               CHS Inc. Earnings
                                   By segment
                                (In millions $)
 
                               Sept. 1 - Nov. 30
 
                             1stQ 2008    1stQ 2007
 
     Energy                    108.5        111.5
     Ag Business               204.7         28.1
     Processing                 20.2         10.6
     Corporate and Other         4.4          3.4
     Taxes                     (36.9)       (17.2)
     Net Income               $300.9       $136.4
 
 

SOURCE CHS Inc.