The company noted that its review of public offering alternatives for CVR Partners, the
managing general partner has determined that current MLP (master limited partnership) market conditions do not currently support a solid IPO.  This was aimed at maximizing the value of CVR’s fertilizer business.

The company now believes maintaining the fertilizer business within the parent CVR Energy will offer a greater value for its shareholders.

We reviewed this one for our SPECIAL SITUATION NEWSLETTER and included it in our picks about two months ago as a "bonus issue."  Because it was still too close to the IPO date at the time, we did not create any formal recommendations as it was not able to be hedged with stock options at the time.  That report is now off of embargo as our first target for the main culprit of the report was hit, so here is the actual report that we sent to subscribers.

Jon C. Ogg
June 13, 2008