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Thursday 30 October, 2008


SQM Initiates Bond Registration Process

SANTIAGO, Chile, October 30 /PRNewswire/ --

    Sociedad Quimica y Minera de Chile S.A. (SQM) (NYSE: SQM; Santiago Stock
Exchange: SQM-B, SQM-A) announced that its Board of Directors, at its meeting
held October 28, 2008, approved the registration of a bond program. The Board
approved a maximum issuance amount under the program of UF 5 million (1)
(approximately US$160 million).

    The bond program will consist of two lines, with each line having a
maximum issuance amount of UF 5 million. The first line will have a maturity
of up to 10 years, and the second line will have a maturity of up to 30
years. The aggregate combined issuance amount under these two lines may not
exceed UF 5 million (or the equivalent amount in U.S. dollars).

    (1) The UF (Unidad de Fomento) is an inflation-indexed, Chilean
peso-denominated monetary unit. The UF rate is set daily in advance,
based on the change in the Consumer Price Index of the previous month. As of
October 30, 2008, UF 1 = approx. US$31.88.

    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,  +56-2-4252485 / [email protected]
    Carolyn McKenzie, +56-2-4252074 / [email protected]
    Carolina Rojas,   +56-2-4252250 / [email protected]

    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.

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