SHARE OPTION PLAN PARTICIPANTS 2005 PLAN AGREEMENT AND ELECTION FORM

Action Required: Must be returned by December 9, 2005

Share Option Plan Participants
2005 Plan Agreement and Election Form

Deferred Compensation Plan

Name (Last, First, Middle Initial)		Social Security Number

You may use this form to:

		¿		Indicate the amount, if any, of vested Options you wish to exercise during the 2005 Plan Year.
		¿		Elect to receive one or more (not to exceed 5) Scheduled Distributions or installment payments (Election required if you are not an active CHS employee; optional election if you are still an active employee)
		¿		Allocate your SOP Account among the available investment options.

Section 1:

Share Option Deferral Election

Please select all that apply; fill in the appropriate blanks with whole percentages.

o Payment in 2005		I elect to exercise                      % of my vested Options and receive payment in 2005.
o Defer Payment		With respect to Options not exercised in 2005, I elect to receive payment of such Options in accordance with the terms of the CHS Inc. Deferred Compensation Plan and my applicable payment elections made below.
		If you are not an active CHS employee and you elect to defer payment, you must complete a Scheduled Distribution election below. If you fail to make a Scheduled Distribution election, your SOP Account shall be paid (minus the Exercise Price Credit) during the sixty (60) day period commencing immediately after December 31, 2006.
		If you are still an active CHS employee and you elect to defer payment, you may (but need not) complete a Scheduled Distribution election. If you fail to make a Scheduled Distribution election, your SOP Account shall be paid (minus the Exercise Price Credit) following your Termination of Employment, Retirement or Disability, in accordance with the terms of the CHS Inc. Deferred Compensation Plan (and the form of Retirement Benefit or Disability Benefit payment you elected under the Plan, as applicable).

Version 2.6		1

Action Required: Must be returned by December 9, 2005

Share Option Plan Participants
2005 Plan Agreement and Election Form

Deferred Compensation Plan

		Name (Last, First, Middle Initial)

Section 2:

Scheduled Distribution Election*

Please complete this section if you wish to receive a Scheduled Distribution.

Former Employees: If you are a former employee of CHS Inc. with an SOP Account, you must make a Scheduled Distribution Election if you do not wish to receive payment of your SOP Account in 2007.

Active Employees: This section is optional and should be completed if you desire a scheduled distribution. If you do not make an election under this section, your account balance will be paid out at termination of employment, retirement, disability, or death in accordance with the terms of the plan and your election form.

Please elect one of the following:

o

Series of Payments. I irrevocably elect to receive one or more (not to exceed 5) Scheduled Distributions of my SOP Account, as well as any investment gains or losses attributable to such amounts, in the manner indicated below. If you are an active employee and you elect to receive a Scheduled Distribution on a date following your Retirement, the Scheduled Distribution will be paid on the date you have elected below, rather than as part of your Retirement Benefit.

	1.		% payable within 60 days of January 1,                       (must be 2007 or later)
	2.		% payable within 60 days of January 1,
	3.		% payable within 60 days of January 1,
	4.		% payable within 60 days of January 1,
	5.		% payable within 60 days