SQM Reports Earnings for the First Quarter of 2009

SANTIAGO, Chile, April 28 /PRNewswire/ --

Sociedad Quimica y Minera de Chile S.A. (SQM) (NYSE: SQM; Santiago Stock Exchange: SQM-B, SQM-A) reported today earnings for the first quarter of 2009 of US$86.3 million (US$0.33 per ADR), an increase of 33% with respect to the same period of 2008, when earnings totaled US$64.8 million (US$0.25 per ADR). Operating income reached US$119.5 million (37% of revenues), 39% higher than the US$86.2 million (26% of revenues) recorded during the first quarter of 2008. Revenues totaled US$320.9 million for the first quarter, representing a decrease of 2% over the US$326.3 million reported in the same period of 2008.

SQM's Chief Executive Officer, Patricio Contesse, stated, "Considering the current global economy and the difficult circumstances of world markets in general, the increase in our quarterly operating income and net income is very good news. The Company's different business lines prevent us from depending on a single product or market and provide us with diversified sources of revenue that allow us to deliver higher operating margins." He continued, "Higher sales prices during the first quarter of the year compared to the same period of the previous year combined with lower operating costs have allowed us to offset the lower sales volumes in our SPN, iodine and lithium businesses, which have in general followed the downward trend observed in different sectors of the economy during recent times. As anticipated, higher production levels of potassium chloride have translated into significantly higher sales volumes and have positively impacted our margins."

Mr. Contesse concluded, "We remain confident that the fertilizer and industrial markets that use our products should recover by the second semester, increasing results in the second half of the year compared to the first half of this year."

For the complete version of this press release, please visit our web site: www.sqm.com.

SQM is an integrated producer and distributor of specialty plant nutrients, iodine and lithium. Its products are based on the development of high quality natural resources that allow the Company to be leader in costs, supported by a specialized international network with sales in over 100 countries. SQM's development strategy aims to maintain and strengthen the Company's world leadership in its three core businesses: Specialty Plant Nutrition, Iodine and Lithium.

For further information, contact: Patricio Vargas, [phone] / [e-mail] Mary Laverty, [phone] / [e-mail] Carolina Rojas, [phone] / [e-mail] For media inquiries, contact: Fernanda Guerra, [phone] / [e-mail]

Statements in this press release concerning the Company's business outlook, future economic performances, anticipated profitability, revenues, expenses, or other financial items, anticipated cost synergies and product or service line growth, together with other statements that are not historical facts, are "forward-looking statements" as that term is defined under Federal Securities Laws.

Any forward-looking statements are estimates, reflecting the best judgment of SQM based on currently available information and involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those stated in such statements. Risks, uncertainties, and factors that could affect the accuracy of such forward-looking statements, are identified in the public filing made with the Securities and Exchange Commission, and forward-looking statements should be considered in light of those factors.

SQM

Patricio Vargas, [phone], [e-mail], or Mary Laverty, [phone], [e-mail], or Carolina Rojas, [phone], [e-mail]; or media inquiries, Fernanda Guerra, [phone], [e-mail], all of SQM