Bennett Named President & CEO; Joyce Retires, Named Vice-Chairman

Apr 26, 2001, 01:00 ET from Terra Industries, Inc.

    SIOUX CITY, Iowa, April 26 /PRNewswire/ --
     Terra Industries Inc. (NYSE:   TRA) announced today at its annual
 shareholders meeting that Burton M. Joyce is retiring as President & CEO and
 will be succeeded by Michael L. Bennett, currently Executive Vice President &
 Chief Operating Officer, effectively immediately.  Joyce will continue as a
 director and was named Vice Chairman.  Joyce (age 59) will also remain as
 Chairman of Terra Nitrogen Corporation, the general partner for Terra Nitrogen
 Company, L.P. and will advise Terra Industries on strategic and other matters.
     Bennett (age 47) has been with Terra since 1973.  He began his career with
 Terra as an operator at the Port Neal, Iowa, plant and has held positions in
 manufacturing, sales, marketing and distribution management before being
 appointed Executive Vice President & Chief Operating Officer in March 1997.
     Commenting on the change, Joyce said, "I have been president & CEO for the
 past 10 years and I have had the privilege of leading Terra through a number
 of major changes.  During that time we moved the Company's headquarters to
 Sioux City, Iowa, divested the non-agriculture businesses and changed the name
 to Terra Industries Inc to reflect its new focus.
     "In 1991, we operated two nitrogen plants and a distribution business.
 Ten years later we operate eight nitrogen manufacturing facilities and two
 methanol plants in three countries.  In recent years we developed a great team
 and it is now time to let them run the business.  The Board and I have been
 working toward this change for over a year and we have every confidence that
 Mike Bennett will do a fine job at the helm of Terra."
     In addition to his work at Terra, Bennett serves on the Executive
 Committees of the Board of Directors of the Siouxland Chamber of Commerce and
 The Fertilizer Institute.  He and his wife Sue, a retirement home social
 worker and administrator, have a daughter Elizabeth and a son Michael.
     In a separate move, William R. Loomis, a director and non-executive
 Chairman of the Board since 1996, resigned as Chairman but will remain on the
 Board of Directors.  He will be succeeded by Henry (Hank) R. Slack, a director
 since 1983.  Mr. Slack (age 51) is the Chairman of Task (USA) Inc. and the
 former Chief Executive of Minorco, a Luxembourg based company that owned
 56 percent of Terra for many years.  In 1999, Minorco merged with Anglo
 American plc, which continues to own 49.5 percent of Terra.
     Terra Industries Inc., with 2000 revenues of $1 billion, is a leading
 international producer of nitrogen products and methanol.
 
     Note:  Terra Industries' news announcements are also available on its web
 site, www.terraindustries.com, and by fax at no charge by calling
 800-758-5804, code 437906.
 
       Company News On-Call:  http://www.prnewswire.com/comp/437906.html or
 fax, 800-758-5804, ext. 437906.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X52245281
 
 

SOURCE Terra Industries, Inc.
    SIOUX CITY, Iowa, April 26 /PRNewswire/ --
     Terra Industries Inc. (NYSE:   TRA) announced today at its annual
 shareholders meeting that Burton M. Joyce is retiring as President & CEO and
 will be succeeded by Michael L. Bennett, currently Executive Vice President &
 Chief Operating Officer, effectively immediately.  Joyce will continue as a
 director and was named Vice Chairman.  Joyce (age 59) will also remain as
 Chairman of Terra Nitrogen Corporation, the general partner for Terra Nitrogen
 Company, L.P. and will advise Terra Industries on strategic and other matters.
     Bennett (age 47) has been with Terra since 1973.  He began his career with
 Terra as an operator at the Port Neal, Iowa, plant and has held positions in
 manufacturing, sales, marketing and distribution management before being
 appointed Executive Vice President & Chief Operating Officer in March 1997.
     Commenting on the change, Joyce said, "I have been president & CEO for the
 past 10 years and I have had the privilege of leading Terra through a number
 of major changes.  During that time we moved the Company's headquarters to
 Sioux City, Iowa, divested the non-agriculture businesses and changed the name
 to Terra Industries Inc to reflect its new focus.
     "In 1991, we operated two nitrogen plants and a distribution business.
 Ten years later we operate eight nitrogen manufacturing facilities and two
 methanol plants in three countries.  In recent years we developed a great team
 and it is now time to let them run the business.  The Board and I have been
 working toward this change for over a year and we have every confidence that
 Mike Bennett will do a fine job at the helm of Terra."
     In addition to his work at Terra, Bennett serves on the Executive
 Committees of the Board of Directors of the Siouxland Chamber of Commerce and
 The Fertilizer Institute.  He and his wife Sue, a retirement home social
 worker and administrator, have a daughter Elizabeth and a son Michael.
     In a separate move, William R. Loomis, a director and non-executive
 Chairman of the Board since 1996, resigned as Chairman but will remain on the
 Board of Directors.  He will be succeeded by Henry (Hank) R. Slack, a director
 since 1983.  Mr. Slack (age 51) is the Chairman of Task (USA) Inc. and the
 former Chief Executive of Minorco, a Luxembourg based company that owned
 56 percent of Terra for many years.  In 1999, Minorco merged with Anglo
 American plc, which continues to own 49.5 percent of Terra.
     Terra Industries Inc., with 2000 revenues of $1 billion, is a leading
 international producer of nitrogen products and methanol.
 
     Note:  Terra Industries' news announcements are also available on its web
 site, www.terraindustries.com, and by fax at no charge by calling
 800-758-5804, code 437906.
 
       Company News On-Call:  http://www.prnewswire.com/comp/437906.html or
 fax, 800-758-5804, ext. 437906.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X52245281
 
 SOURCE  Terra Industries, Inc.