Grainnet

Viterra Closes $400 Million Common Share Offering

Viterra Inc. (TSX:VT) (“Viterra") announced May 9 that the company has closed its common share offering, announced on April 21, 2008.

Viterra issued 28,600,000 common shares, on a bought deal basis at a price of $14.00 per common share to a syndicate of underwriters co-led by TD Securities Inc. and Genuity Capital Markets.

The syndicate of underwriters also includes National Bank Financial Inc., Scotia Capital Inc., UBS Securities Canada Inc., BMO Capital Markets, HSBC Securities (Canada) Inc., and RBC Capital Markets (the "Underwriters").

Viterra received gross proceeds of $400.4 million from the offering (net proceeds of $383.7 million after underwriting fees and estimated expenses of $650,000).

Viterra now has 232,759,188 common shares issued and outstanding.

The Underwriters have also exercised, in full, the over-allotment option to purchase an additional 4,290,000 common shares at a price of $14.00 per common share for additional gross proceeds of approximately $60 million (net proceeds of approximately $57.6 million after underwriting fees).

The closing of the over-allotment option is expected to occur on May 14, 2008 and is subject to customary closing conditions.

All proceeds from the offering will be used for general corporate purposes, and in particular, are expected to be used to fund future acquisitions.

The common shares will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States to any person absent registration or an applicable exemption from registration requirements.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy the common shares in the United States.

For more information, call 306-569-4782.