Potash One Inc. Adopts Shareholder Rights Plan

VANCOUVER, BRITISH COLUMBIA, Aug 27 (MARKET WIRE) --
Potash One Inc. ("Potash One" or the "Company") (TSX: KCL) reports that
its Board of Directors has implemented a Shareholder Rights Plan
Agreement (the "Rights Plan").

The Rights Plan has been adopted to ensure the fair treatment of all
Potash One shareholders in the eventuality of a possible take-over bid
for the outstanding common shares of Potash One. In the event that a
takeover bid should occur the Rights Plan provides a mechanism to ensure
that shareholders have adequate time to properly evaluate and assess a
take-over bid without facing undue pressure or coercion. The Rights Plan
also provides the Board with additional time to consider any take-over
bid and, if applicable, to explore alternative transactions in order to
maximize shareholder value. As such, the Rights Plan is not designed to
prevent take-over bids that treat Potash One shareholders fairly.

The TSX has accepted notice of the Rights Plan, subject to, among other
conditions, confirmation of the Rights Plan by the Company's shareholders
on September 25, 2008 at the Company's 2008 annual shareholders' meeting.
If ratified by the shareholders, the Rights Plan will have a term of 3
years.

Pursuant to the terms of the Rights Plan, any bid that meets certain
criteria intended to protect the interests of all shareholders are deemed
to be "Permitted Bids". A Permitted Bid must be made by way of a
take-over bid circular prepared in compliance with applicable securities
laws and, in addition to certain other conditions, must remain open for a
minimum of 75 days. In the event a take-over bid does not meet the
Permitted Bid requirements of the Rights Plan, the rights issued under
the plan will entitle shareholders, other than any shareholder or
shareholders involved in the take-over bid, to purchase additional common
shares of Potash One at a significant discount to the market price of the
common shares at that time. The board of directors is not currently aware
of any pending or proposed takeover bid for Potash One.

Potash One President and CEO, Paul Matysek commented, "This Rights Plan
is simply a proactive measure that we believe is appropriate to adopt in
light of the increased pace of merger and acquisition activity in the
mining industry. We feel this is the prudent thing to do to protect
shareholder value while we are embarking on the current growth phase of
the Company."

ON BEHALF OF THE BOARD OF DIRECTORS,

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

About Potash One Inc.

Potash One Inc. is a Canadian resource company engaged in the
identification, acquisition, exploration and development of advanced
solution mine amenable potash properties. The Company owns 100% of a
97,240 acre Potash Subsurface Exploration Permit in Saskatchewan, Canada
(the "Legacy Project"). The Legacy Project was previously explored by
Imperial Oil Ltd. (now Exxon) and Lumsden Potash Corporation and is
adjacent to the largest producing solution potash mine in the world. In
addition, the Company owns 100% of three other Potash Subsurface
Exploration Permits over 230,000 acres that are contiguous to the Legacy
Project. The Company has NI 43-101 resource, a solid balance sheet, and
experienced technical and corporate management to advance the Legacy
Project to the next stage.

Contacts:
Potash One Inc.
Paul F. Matysek, M.Sc., P.Geo.
President and Chief Executive Officer
(604) 331-4431
(604) 408-4799 (FAX)
Email: info@potash1.com
Website: www.potash1.com

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