SQM Reports Earnings for the First Quarter of 2010

By Sqm, PRNE
Monday, May 24, 2010

SANTIAGO, Chile, May 25, 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 quarter of 2010
of US$76.5 million (US$0.29 per ADR), a decrease of 13.5% with respect to the
same period of 2009, when earnings totaled US$88.4 million (US$0.34 per ADR).
Gross Margin reached US$131.5 million (33.8% of revenues), 7.5% lower than
the US$142.1 million (44.2% of revenues) recorded during the first quarter of
2009. Revenues totaled US$388.5 million for the first quarter, representing
an increase of 21.0% over the US$321.1 million reported in the same period of

SQM's Chief Executive Officer, Patricio Contesse, stated, "After
undergoing unprecedented economic challenges during 2009, which negatively
impacted global markets, the first quarter of 2010 showed strong signs of a
transition to pre-crisis levels. We observed positive signs of recovery in
all of our business lines with higher volumes in each business segment in the
first quarter of the year compared to first quarter of 2009. Although prices
in our fertilizer and lithium businesses are lower than the same period last
year, they are in line with our expectations for 1Q10. Although there
continues to be economic uncertainty in global markets, improved economic
conditions and a more encouraging outlook in general have had a positive
impact on our businesses, and we expect this positive trend to continue
throughout the year."

Mr. Contesse concluded, "Last year's challenging conditions proved that
our diverse businesses and broad customer base make SQM more resilient
compared to fertilizer industry players under demanding market conditions.
Sales volumes for the first quarter of 2010 reflect the turnaround in
markets, and we are optimistic that the following quarters will continue to
show promising signs of growth and recovery for our businesses."

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, lithium, potassium-related fertilizers and industrial
chemicals. 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 position
in each of its businesses.

    For further information, contact: 

         Mary Laverty, +56-2-4252074 / mary.laverty@sqm.com

         Patricio Vargas, +56-2-4252485 / patricio.vargas@sqm.com

    For media inquiries, contact: 

         Fernanda Guerra, +56-2-4252027 / fernanda.guerra@sqm.com

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.

Patricio Vargas, +56-2-4252485, patricio.vargas at sqm.com, or Mary Laverty, +56-2-4252074, mary.laverty at sqm.com, or media, Fernanda Guerra, +56-2-4252027, fernanda.guerra at sqm.com, all of SQM

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