SQM Reports Earnings for the First Half of 2010

By Sqm, PRNE
Tuesday, August 31, 2010

SANTIAGO, Chile, September 1, 2010 - Sociedad Quimica y Minera de Chile S.A. (SQM) (NYSE: SQM; Santiago Stock
Exchange: SQM-B, SQM-A) reported today earnings for the first half of 2010 of
US$181.5 million (US$0.69 per ADR), an increase of 4.2% with respect to the
same period of 2009, when earnings totaled US$174.2 million (US$0.66 per
ADR). Gross Margin reached US$303.2 million (35.0% of revenues), 9.7% higher
than the US$276.4 million (41.3% of revenues) recorded during the first half
of 2009. Revenues totaled US$865.3 million for the first six months,
representing an increase of 29.5% over the US$668.4 million reported in the
same period of 2009.

The Company also announced a year-over-year earnings increase of 22.4%
for the second quarter of 2010, reporting quarterly net income of US$105.0
(US$0.40 per ADR) compared to the 2009 figure of US$85.8 million
(US$0.33 per ADR). Gross Margin for the second quarter reached US$171.7
, 27.9% higher than the US$134.3 million recorded for the same period
of 2009. Revenues totaled US$476.7 million, an increase of approximately
37.3% with respect to the second quarter of 2009, when revenues amounted to
US$347.2 million.

Patricio Contesse, SQM's Chief Executive Officer, stated, "We have
observed a positive shift in demand across all of our business segments
during the first six months of 2010. The momentum observed during the first
quarter has continued through the second quarter, as improved economic
conditions have helped sustain demand. Additionally, inventory levels
throughout the supply chain, in all of our business lines, have begun to
return to normal levels, which had both a positive impact on our sales
volumes and also reflects a clear signal of consumer and distributor
confidence in long-term demand."

Mr. Contesse continued, "Our expansion of potassium-based fertilizers has
continued to develop according to plans, as evidenced by the completion of
our 300,000 metric ton potassium nitrate facility in Coya Sur and the
significant increase of production capacity of potassium chloride in the
Salar de Atacama."

Mr. Contesse concluded, "Despite some uncertainty regarding the global
economy in the short term, we continue to observe strong demand fundamentals
in all of our business lines which allow us to maintain an optimistic outlook
regarding the future growth prospects of the Company."

For the complete version of this press release, please visit our Web
site: www.sqm.com.

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:     Mary Laverty, +56-2-4252074 /
                                          Mark Fones, +56-2-4252485 /

    For media inquiries,    contact:      Fernanda Guerra, +56-2-4252027 /

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.

Mary Laverty, 56-2-4252074, mary.laverty at sqm.com; or Mark Fones, +56-2-4252485, mark.fones at sqm.com, or media inquiries: Fernanda Guerra, +56-2-4252027, fernanda.guerra at sqm.com, all of SQM

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