CHS Reports Record Fiscal 2007 Earnings of $750.3 Million

ST. PAUL, Minn., Nov. 20 /PRNewswire-FirstCall/ — CHS Inc., a leading energy and grain-based foods company, today reported record net income for fiscal 2007 of $750.3 million.

The earnings for the 12 months ending Aug. 31, 2007, compared with net income of $490.3 million for fiscal 2006 (Sept. 1, 2005 – Aug. 31, 2006). Revenues for fiscal 2007 were $17.2 billion, also a record, and were up 20 percent over $14.4 billion for fiscal 2006.

Earnings for the fourth quarter of fiscal 2007 (June 1 – Aug. 31, 2007) were $294.0 million, compared with $159.3 million for the final quarter of fiscal 2006. Revenues for the quarter were $5.0 billion, up from $4.0 billion the previous year.

The 2007 results mark the fourth consecutive year of record earnings for the producer-owned cooperative and reflected strong performance by every CHS operating unit. Once again, market-driven refined fuels earnings led overall results largely due to strong margins generated by the two CHS refineries. CHS is the nation’s largest cooperatively owned refiner. Record revenues were attributed to increased renewable fuels volumes, and higher values and volume in grain.

As a producer-owned cooperative, CHS returns a portion of its earnings to eligible owners. In 2007, based on 2006 performance, the company issued a record $253 million in cash patronage, equity redemptions, preferred stock and dividends. Another record cash return is expected during 2008 based on landmark fiscal 2007 results.

While earnings were led by the performance of the company’s Energy segment, CHS also achieved strong results in its Ag Business and Processing segments and Corporate business solutions operations. Ag Business earnings — which include agronomy, grain marketing and retail operations — were led by both strong domestic grain markets driven by increased renewable fuels demand and continued growth in export markets, along with increased energy sales and grain movement at the retail level. Agronomy earnings were boosted by a shift to corn acreage which drove demand for crop nutrients and increased margins.

Processing performance improved significantly over fiscal 2006 for oilseed crushing earnings. CHS also reported improved earnings from its share of the Horizon Milling, LLC, wheat milling venture and strong performance from its share of the Ventura Foods, LLC, vegetable oil-based food manufacturing and packaging business. CHS also saw record performance in its Corporate business solutions operations which include its insurance, risk management and financial services businesses.

CHS Inc. (http://www.chsinc.com/) is a diversified energy, grains and foods company committed to providing the essential resources that enrich lives around the world. A Fortune 200 company, CHS is owned by farmers, ranchers and cooperatives, along with thousands of preferred stockholders, from the Great Lakes to the Pacific Northwest and from the Canadian border to Texas. CHS supplies energy, crop nutrients, grain, livestock feed, food and food ingredients, along with business solutions including insurance, financial and risk management services. The company operates petroleum refineries/pipelines and manufactures, markets and distributes Cenex(R) brand refined fuels, lubricants, propane and renewable energy products. CHS is listed on the NASDAQ at CHSCP.

This document contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 that are based on management’s current expectations and assumptions. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from the potential results discussed in the forward-looking statements. The company undertakes no obligations to publicly revise any forward-looking statements to reflect future events or circumstances. For a discussion of additional factors that may materially affect management’s estimates and predictions, please view the CHS Inc. annual report filed on Form 10-K for the year ended Aug. 31, 2007, which can be found on the Securities and Exchange Commission web site (http://www.sec.gov/) or on the CHS web site http://www.chsinc.com/.

                             CHS Inc. Earnings                                 By segment                              (in millions $)                                 Sept. 1- Aug. 31          June 1 – Aug. 31                                 FY 2007     FY 2006     4thQ 2007   4thQ 2006      Energy                     $602.8      $407.6       $269.5      $127.5     Ag Business                 118.3        91.7         10.3        24.5      Processing                   53.6        28.5          5.7         6.7     Corporate & Other            12.2        12.2          0.9         3.1     Taxes                       (36.6)      (49.7)         7.6        (2.5)     Net income                 $750.3      $490.3        294.0      $159.3  

CHS Inc.

CONTACT: Lani Jordan of CHS Inc., +1-651-355-4946,lani.jordan@chsinc.com

Web site: http://www.chsinc.com/