Potash One Announces Equity Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 20, 2008) - Potash One Inc. (TSX VENTURE:KCL)(FRANKFURT:I5X) (the "Company" or "Potash One") is pleased to announce a non-brokered equity private placement of up to 3.5 million units at a price of $4.00 per unit for gross proceeds of $14,000,000. Each unit shall consist of one common share and one-half common share purchase warrant. Each whole warrant shall be exercisable for one common share at a price of $4.75 per share for a period of 15 months following closing. In the event that the common shares close at $6.00 or greater for 10 trading days, subsequent to the expiry of the 4 month hold period, the expiry date may be accelerated by the Company to a period of 30 days (the "Placement"). Potash One shall pay a finder's fee of 5.0% of the gross proceeds of the Placement in units or cash.

The proceeds of the Placement will be used to expedite development of Potash One's previously explored Legacy potash project in Saskatchewan, a reserve for acquisitions and for general corporate purposes. The Placement is subject to certain conditions including, but not limited to the receipt of all necessary regulatory approvals.

The securities described herein have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States unless registered under the Act or unless an exemption from registration is available.

ON BEHALF OF THE BOARD OF DIRECTORS,

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

Potash One Inc. is a Canadian potash company engaged in the identification, acquisition, exploration and development of advanced resource properties. The Company has a solid balance sheet and experienced technical and corporate management to advance its current project to the next level. The primary interests of the Company include an option to acquire 100% interest in a 97,240 acre Potash Subsurface Exploration permit in Saskatchewan, Canada.

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