Intrepid Potash, Inc. Announces Exercise of Option to Purchase Additional Shares

DENVER--(Business Wire)--
Intrepid Potash, Inc. (NYSE:IPI) announced today that the
underwriters of its initial public offering exercised their option to
purchase an additional 4,500,000 shares of its common stock at $32.00
per share. The option was granted in connection with the company's
initial public offering of 30,000,000 shares of common stock, which
priced on April 21, 2008.

Goldman, Sachs & Co., Merrill Lynch, Pierce, Fenner & Smith
Incorporated and Morgan Stanley & Co. Incorporated are serving as
joint-book running managers of the offering. RBC Capital Markets
Corporation and BMO Capital Markets Corp. are co-managers of the
offering.

The public offering is being made by means of a prospectus, copies
of which may be obtained from:

-- Goldman, Sachs & Co. Prospectus Department, 85 Broad Street,
New York, NY 10004 (telephone number: 212-902-1171);

-- Merrill Lynch & Co. Prospectus Department, 4 World Financial
Center, New York, NY 10080 (telephone number: 866-500-5408);
or

-- Morgan Stanley & Co. Incorporated, Attention: Prospectus
Department, 180 Varick Street, New York, NY 10014 (telephone
number: 866-718-1649) (email address:
prospectus@morganstanley.com).

A registration statement relating to shares of common stock of
Intrepid Potash, Inc. has been declared effective by the Securities
and Exchange Commission. This press release shall not constitute an
offer to sell or the solicitation of an offer to buy nor shall there
be any sale of these securities in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.

Intrepid Mining LLC, the parent company of Intrepid Potash, is the
largest producer of potash in the U.S. and is dedicated to the
production and marketing of potash and langbeinite, another mineral
containing potassium. Intrepid Mining owns five active potash
production facilities -- three in New Mexico and two in Utah.

The information set forth in this press release contains certain
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995 concerning the business,
operations and financial condition of Intrepid Potash, Inc. and its
subsidiaries and affiliates ("Intrepid"). Words such as "anticipates,"
"believes," "estimates," "expects," "forecasts," "predicts" and
variations of such words or expressions are intended to identify
forward-looking statements. Although Intrepid believes the
expectations reflected in such forward-looking statements are based
upon reasonable assumptions, there can be no assurance that its
expectations will be realized. "Forward-looking statements" consist of
all non-historical information, including the statements referring to
the prospects and future performance of Intrepid. Actual results could
differ materially from those projected in Intrepid's forward-looking
statements due to numerous known and unknown risks and uncertainties,
including, among other things, the "Risk Factors" described in
Intrepid's filings with the Securities and Exchange Commission.
Intrepid does not undertake any obligation to publicly update any
forward-looking statement to reflect events or circumstances after the
date on which any such statement is made or to reflect the occurrence
of unanticipated events.

Intrepid Potash, Inc.
David W. Honeyfield, 303-296-3006

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