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Tel Aviv, Israel, November 17, 2014 - ICL (NYSE and TASE: ICL), a global manufacturer of products based on specialty minerals that fulfill essential needs of the world's growing population in the agriculture, processed food and engineered materials markets, today clarified that ICL's management intends to reconsider the decision of the Company's Board of Directors regarding the continued existence of the Magnesium plant depending on the manner in which the government, through its proposed law, "Taxation on Natural Resources", will present the decision of the Socio-Economic cabinet which established that: "A special mechanism will be established that will ensure that the recommendations of the Committee will not affect, directly or indirectly, the feasibility of the continued existence of the Magnesium plant".

Assuming that the actual expression of the cabinet decision will not, in effect, harm either the contribution or value of the synergies derived from the operation of the Magnesium plant, ICL's management will consider recommending to the Board of Directors of the Company that it reconsider its decision regarding the continued existence of the Magnesium plant after January 2017, as well. As of today's date, a decision has not been made by the Board of Directors due to concerns that the details of the arrangement that will be presented to the Knesset will not reflect the decision of the Socio-Economic Cabinet, and due to the lack of reliability and long-term durability of the government's commitments, including written agreements signed by it. 

• [Editor:Phillip.Feng]