8-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

____________________

FORM 8-K
CURRENT REPORT

Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):  June 15, 2004

MISSISSIPPI CHEMICAL CORPORATION
(Exact name of Registrant as specified in its charter)

Mississippi (State or other jurisdiction of incorporation)	001-12217 (Commission File Number)	64-0292638 (I.R.S. Employer Identification Number)
3622 Highway 49 East Yazoo City, Mississippi (Address of principal executive offices)		39194 (Zip code)

Registrant's telephone number, including area code:  (662) 746-4131

Not Applicable
(Former name or former address, if changed since last report)

Item 5.  Other Events.

     Monthly Operating Report for April 1 through April 30, 2004.

          On May 15, 2003, Mississippi Chemical Corporation and its domestic subsidiaries (collectively, the "Debtors") filed voluntary petitions for relief under Chapter 11 of Title 11 of the United States Code in the United States Bankruptcy Court for the Southern District of Mississippi.  In connection with such filing, the Debtors are required to file monthly operating reports with the United States Trustee and the Bankruptcy Court.  Attached hereto as Exhibit 99 is the monthly operating report for the period from April 1 through April 30, 2004.

Item 7.              Financial Statements and Exhibits.

            (c)        Exhibits.

Exhibit Number	Description
99	Monthly Operating Report for the period from April 1 through April 30, 2004

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

MISSISSIPPI CHEMICAL CORPORATION



By:    /s/ Timothy A. Dawson                           
Name:    Timothy A. Dawson
Title:      Senior Vice President and Chief Financial Officer

Date:    June 15, 2004

EXHIBIT INDEX

Exhibit Number	Description
99	Monthly Operating Report for the period from April 1 through April 30, 2004

EX-99

EXHIBIT 99 

MONTHLY OPERATING REPORT
CHAPTER 11
Case Name:	Mississippi Chemical Corporation
Case Numbers:	03-2984 WEE	03-2986 WEE	03-2988 WEE	03-2990 WEE	03-2992 WEE
	03-2985 WEE	03-2987 WEE	03-2989 WEE	03-2991 WEE	03-2993 WEE
For Period:	April 1, 2004	to	April 30, 2004
Mark One Box For Each Required Report/Document		This Report is Due 15 Days After the End of the Month.
		The debtor must attach each of the following reports unless the United States Trustee has waived the requirements in writing.  File original with Clerk of Court and duplicate with UST with an original signature.
Report/Document Attached	Previously   Waived	Required Reports / Documents
X		Comparative Balance Sheets (FORM 2-B)
X		Profit and Loss Statement (FORM 2-C)
X		Cash Receipts & Disbursements Statement (FORM 2-D)
X		Supporting Schedules (FORM 2-E)
X		Narrative (FORM 2-F)
	X	Copies of Bank Statement(s) and Reconciliations of Bank Balance to Book Balance for all Account(s)
I declare under penalty of perjury that the following Monthly Financial report and any attachments thereto, are true and correct to the best of my knowledge and belief.
Executed on:	June 15, 2004		Debtor(s):	Mississippi Chemical Corporation
			By:	/s/ Mickey W. Crane
				Mickey W. Crane
			Position:	Director of Accounting
			Phone:	662.746.4131

FORM 2-A

MISSISSIPPI CHEMICAL CORPORATION

Combined Balance Sheets
Case Number: 03-2984WEE
(Dollars in Thousands)	5/15/2003	05/31/03	06/30/03	07/31/03	08/31/03	09/30/03	10/31/03	11/30/03	12/31/03	1/31/004	02/29/04	03/31/04	04/30/04	05/31/04
ASSETS
Current assets:
Cash and cash equivalents	$      2,126	$      2,441	$      6,101	$     22,115	$     15,614	$     10,769	$      2,823	$      7,976	$      3,986	$     10,255	$      6,230	$      5,133	$     13,710
Accounts receivable, net of allowance for doubtful accounts	39,909	41,587	56,404	34,785	42,548	35,868	43,866	44,324	48,532	44,625	75,559	51,856	42,573
Inventories:
Finished products	39,612	44,783	29,121	32,294	20,802	20,388	24,000	16,634	11,226	26,329	27,893	19,699	16,629
Raw materials	5,958	6,660	6,415	5,582	6,761	6,502	5,508	5,678	5,920	6,719	7,249	8,219	5,252
Replacement Parts	31,991	31,195	30,750	30,957	30,773	30,568	31,190	26,776	26,647	26,638	28,539	25,371	25,200
Prepaid expenses and other current assets	7,801	9,199	5,039	11,573	10,894	11,791	11,997	8,866	17,379	16,608	13,797	13,233	13,681
Deferred income taxes	5,388	6,474	3,112	3,177	3,182	3,151	3,529	2,142	10,402	12,095	4,276	3,363	3,022
Current assets from discontinued operations								18,747	29,762	30,808	752	8,147	4,029
Total current assets	132,784	142,339	136,942	140,483	130,573	119,037	122,913	131,143	153,853	174,075	164,295	135,020	124,096
Investments in affiliates	110,706	111,126	111,441	112,872	114,408	111,995	111,352	111,502	118,082	122,383	123,897	126,007	127,789
Assets held for sale						35,299	35,378	(0)	1,958	1,958	1,958	4,198	4,198
Other assets	26,688	27,738	10,345	9,599	8,852	8,258	7,562	6,903	6,208	5,512	4,817	4,322	3,615
Property, plant and equipment, net of accumulated depreciation	297,836	295,644	289,362	288,215	285,623	215,265	214,027	212,703	209,561	208,368	207,233	173,803	172,431
Long-term assets from discontinued operations								44,886	-	-	-	1,882	1,882
	$   568,014	$   576,846	$   548,090	$   551,169	$   539,455	$   489,855	$   491,232	$   507,137	$   489,662	$   512,297	$   502,200	$   445,232	$   434,011
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Debt due within one year	$             -	$             -	$             -	$             -	$             -	$             -	$      2,500	$             -	$     96,700	$   106,909	$   108,037	$   106,913	$     99,371
Accounts payable	$            (0)	12,276	15,736	25,579	20,670	17,994	17,660	20,178	19,976	29,152	26,437	20,571	18,982
Accrued liabilities	614	1,780	4,633	4,826	6,868	6,900	6,604	12,995	9,790	11,090	11,098	11,647	11,051
Deferred income taxes	0	0	0	(0)	(0)	0	(0)	0	(0)	0	(29)	0	(0)
Current liabilities from discontinued operations								6,123	3,800	4,346	2,591	1,522	1,048
Total current liabilities	614	14,056	20,369	30,405	27,539	24,894	26,765	39,297	130,266	151,497	148,133	140,653	130,451
Liabilities subject to compromise:
Secured	159,033	159,729	158,423	158,423	158,423	158,424	158,424	158,424	68,424	68,424	68,424	52,317	52,317
Priority	11,063	9,566	10,092	10,092	10,092	10,092	10,092	1,194	1,194	1,194	1,194	1,194	1,194
Unsecured	300,030	301,021	239,040	238,120	237,491	237,050	237,042	234,295	233,309	233,202	232,000	231,987	231,984
	470,126	470,316	407,555	406,636	406,007	405,567	405,559	393,913	302,927	302,821	301,619	285,498	285,494
Long-term debt								(0)	(0)	(0)	(0)	(0)	(0)
Other long-term liabilities and deferred credits	15,197	14,289	36,872	37,434	36,811	36,158	36,091	34,823	35,084	35,043	34,980	34,527	34,348
Deferred income taxes			26,518	24,151	21,342	6,074	6,059	18,820	29,365	29,340	21,326	21,143	21,142
Long-term liabilities from discontinued operations								2,440	-	-	-	-	-
Shareholders' equity:
Common stock	280	280	280	280	280	280	280	280	280	280	280	280	280
Additional paid-in capital	306,063	306,063	306,063	306,063	306,063	306,063	306,063	306,063	306,063	306,063	306,063	306,063	306,063
Accumulated deficit	(196,012)	(200,050)	(209,046)	(213,175)	(217,953)	(248,461)	(248,439)	(247,519)	(273,576)	(268,875)	(266,806)	(301,359)	(302,827)
Accumulated other comprehensive income (loss)	221	367	(12,046)	(12,151)	(12,159)	(12,245)	(12,671)	(12,505)	(12,273)	(15,398)	(15,115)	(13,099)	(12,467)
Treasury stock, at cost	(28,474)	(28,474)	(28,474)	(28,474)	(28,474)	(28,474)	(28,474)	(28,474)	(28,474)	(28,474)	(28,474)	(28,474)	(28,474)
Total Shareholders' equity	82,078	78,185	56,776	52,543	47,757	17,163	16,759	17,845	(7,981)	(6,404)	(4,053)	(36,589)	(37,425)
	$   568,014	$   576,846	$   548,090	$   551,169	$   539,455	$   489,855	$   491,232	$   507,137	$   489,662	$   512,297	$   502,006	$   445,232	$   434,011

FORM 2-B
Page 1 of 1

MISSISSIPPI CHEMICAL CORPORATION
Combined Profit & Loss Statements
Case Number: 03-2984WEE
(Dollars in Thousands)	Fiscal Year To Date   5/15/2003	05/31/03	06/30/03	07/31/03	08/31/03	09/30/03	10/31/03	11/30/03	12/31/03	01/31/04	02/29/04	03/31/04	04/30/04	05/31/04
Revenues:
Net sales	$   379,708	$    18,651	$    45,987	$    28,258	$    37,016	$    33,759	$    41,209	$    22,719	$    47,178	$    38,061	$    50,143	$    18,760	$    36,646
Other revenue	1,331	184	508	434	355	366	381	350	387	393	359	350	390
	381,039	18,834	46,494	28,692	37,371	34,126	41,590	23,069	47,565	38,454	50,501	19,109	37,036
Operating expenses:
Cost of products sold	368,401	20,813	43,102	27,856	36,771	36,333	35,286	18,062	34,954	29,636	43,931	14,104	32,113
Selling, general and administrative	28,082	1,828	1,815	2,619	2,058	2,189	2,090	(190)	1,971	1,967	1,525	2,378	2,063
Impairment of long-lived assets	70,889	-	4,229	-	-	-	-	-	-	-	-	-	-
Idle plant cost	14,107	358	2,629	3,228	3,400	4,216	1,085	(3,554)	96	0	0	(2,717)	589
	481,480	23,000	51,774	33,702	42,228	42,739	38,462	14,318	37,021	31,602	45,456	13,765	34,765
Operating income	(100,441)	(4,166)	(5,279)	(5,010)	(4,858)	(8,613)	3,128	8,751	10,544	6,852	5,045	5,344	2,271
Other expense (income):
Interest, net	26,475	1,741	918	1,897	1,737	1,711	1,840	1,597	1,559	2,178	2,745	3,289	2,596
Other	(5,023)	191	(232)	(245)	(271)	(138)	(133)	(204)	(113)	(317)	(219)	(65)	84
(Loss) income before reorganization expenses and income taxes	(121,893)	(6,097)	(5,965)	(6,662)	(6,324)	(10,186)	1,422	7,357	9,098	4,990	2,520	2,121	(408)
Reorganization items:
Legal & professional fees	2,794	-	821	(307)	1,056	1,199	764	1,525	1,489	1,028	1,094	863	254
Financing fees	-	-	-	-	-	-	-	-	-	-	-	-	-
Severance and employee retention							768	72	228	49	90	1,912	103
Bankruptcy trustee fees	-	-	-	57	12	79	(3)	(20)	62	(15)	(10)	54	-
Settlements with customers and vendors								-	-	-	-	-	-
Impairment of long-lived assets						34,197		(34,197)	(175)	-	-	21,251	-
Rejected executory contracts								-	-	-	-	-	-
Other	-	-	-	-	-	-	-	19	3,793	(23)	(113)	(555)	61
	2,794	-	821	(250)	1,068	35,475	1,530	(32,601)	5,417	1,060	1,082	23,544	417
(Loss) income from continuing operations and before income taxes	(124,687)	(6,097)	(6,786)	(6,412)	(7,392)	(45,660)	(108)	39,959	3,681	3,931	1,437	(21,423)	(826)
Income tax (benefit) expense	(31,908)	(2,059)	2,210	(2,283)	(2,614)	(15,152)	(131)	16,830	18,835	(35)	(530)	8,518	259
Net (loss) income from continuing operations	(92,779)	(4,038)	(8,996)	(4,129)	(4,778)	(30,508)	23	23,130	(15,155)	3,966	1,968	(29,942)	(1,084)
Discontinued operations:
(Loss) income from discontinued operations								(22,880)	825	736	725	(4,611)	(385)
(Loss) on disposal of discontinued operations									(11,728)	-	(624)	-	-
	-	-	-	-	-	-	-	(22,880)	(10,903)	736	101	(4,611)	(385)
Net (loss) income	$    (92,779)	$     (4,038)	$     (8,996)	$     (4,129)	$     (4,778)	$    (30,508)	$           23	$         250	$    (26,057)	$      4,701	$      2,069	$    (34,552)	$     (1,469)

FORM 2-C
Page 1 of 1

MISSISSIPPI CHEMICAL CORPORATION
Cash Receipts & Cash Disbursements Statement
Case Number: 03-2984WEE
(Dollars in Thousands)
Week Ending	05/31/03	06/30/03	07/31/03	08/31/03	09/30/03	10/31/03	11/30/03	12/31/03	01/31/04	02/29/04	03/31/04	04/30/04	05/31/04
Beginning Cash Balance	$     2,126	$     2,441	$     6,101	$    22,115	$    15,614	$    10,769	$     2,823	$     7,976	$     3,986	$    10,255	$     6,230	$     5,133
Operating Receipts
Deposits	17,576	37,356	51,814	31,734	48,938	39,347	51,478	56,933	52,567	59,699	56,220	54,031
Intercompany Transfers	28,352	41,478	45,360	41,294	95,295	84,088	61,429	85,378	63,964	65,866	78,305	55,438
Total Cash Receipts	45,928	78,834	97,175	73,028	144,233	123,434	112,908	142,310	116,532	125,565	134,524	109,469	-
Operating Disbursements:
Raw Material Purchases	3,719	7,975	12,210	13,942	22,329	14,616	13,202	13,468	5,765	14,072	19,799	15,417
Natural Gas	9,322	9,867	8,904	5,764	11,100	14,374	14,120	22,886	30,087	26,735	19,672	7,311
Payroll & Benefits	2,409	4,888	3,829	3,915	3,745	5,790	4,660	4,880	4,719	4,783	4,123	3,591
Utilities			1,211	1,583	2,520	2,000	1,016	1,918	1,643	1,609	1,146	727
Interest		2,412	1,044	-	2,227	1,042	-	2,271	1,344	1,158	2,085	886
Delivery & Storage		2,988	2,960	3,098	2,139	3,351	3,382	3,733	4,155	3,971	3,276	2,304
Operating &Maintenance Materials			1,811	1,121	1,992	1,622	1,750	2,801	2,444	3,160	1,134	1,213
Taxes, Licenses, Duties, etc.	809	3,094	1,423	2,065	1,965	2,237	1,660	3,073	4,287	2,148	2,128	1,580
Reorganization	698	-	373	583	1,252	1,682	472	8,703	720	662	587	864
Capital Expenditures		527	970	727	1,094	686	351	1,084	555	363	1,176	1,042
Chemicals			835	801	859	563	1,793	883	660	1,449	731	421
Insurance			197	3,580	629	1,055	662	662	920	643	13	330
Trustee Fees			57	12	1	76	-	-	88	-	-	84
Intercompany Payments	28,352	41,478	45,360	41,294	95,295	84,088	61,429	85,378	63,964	65,866	78,305	55,438
Other	837	2,553	998	802	1,446	1,293	1,076	1,270	1,707	1,617	7,235	1,673
Total Operating Disbursements	46,146	75,782	82,182	79,287	148,593	134,475	105,572	153,010	123,056	128,234	141,409	92,882
Net Cash Flows from Operations	(218)	3,052	14,993	(6,260)	(4,360)	(11,041)	7,335	(10,699)	(6,525)	(2,669)	(6,884)	16,586
Negative Cash Balance Reclassified to Payables	532	608	1,021	(241)	(485)	595	317	10	3,293	(1,856)	(2,413)	191
Net DIP Advances (Payments)	-	-	-	-	-	2,500	(2,500)	96,700	9,500	500	8,200	(8,200)
Ending Cash Balances	$     2,441	$     6,101	$    22,115	$    15,614	$    10,769	$     2,823	$     7,976	$     3,986	$    10,255	$     6,230	$     5,133	$    13,710
Loan Balances
DIP Balance, Beginning	$          -	$          -	$          -	$          -	$          -	$          -	$     2,500	$          -	$    96,700	$  106,909	$  108,037	$  106,913
Net DIP Advances (Payments)	-	-	-	-	-	2,500	(2,500)	96,700	9,500	500	(1,800)	(8,200)
DIP Balance, Ending	-	-	-	-	-	2,500	-	96,700	106,200	107,409	106,237	98,713
Accrued Interest	-	-	-	-	-	-	-	-	709	628	676	658
Total DIP Balances	$          -	$          -	$          -	$          -	$          -	$     2,500	$          -	$    96,700	$  106,909	$  108,037	$  106,913	$    99,371
Trustee Fees (Dollars):
Beginning Balance	$          -	$    56,500	$    68,750	$    72,500	$    76,250	$    77,500	$    81,000	$    82,250	$    87,500	$    76,500	$    84,250	$    84,250
Estimated	56,500	12,250	60,250	16,000	1,750	79,500	1,250	5,250	76,500	7,750	-	66,250
Payment			(56,500)	(12,250)	(500)	(76,000)	-	-	(87,500)	-	-	(84,250)
Ending Balance	$    56,500	$    68,750	$    72,500	$    76,250	$    77,500	$    81,000	$    82,250	$    87,500	$    76,500	$    84,250	$    84,250	$    66,250

FORM 2-D
Page 1 of 1

MISSISSIPPI CHEMICAL CORPORATION
Supporting Schedule-Cash Receipts & Cash Disbursements Statement
Case Number: 03-2984WEE
For the Period:  April 1, 2004 to April 30, 2004
	Case Numbers==>	03-2984	03-2985	03-2986	03-2987	03-2988	03-2989	03-2990	03-2991	03-2992	03-2993
(Dollars in Thousands)	Total	Mississippi Chemical Corporation	Mississippi Nitrogen, Inc.	MissChem Nitrogen, LLC	Mississippi Chemical Company, LP	Mississippi Chemical Management Company	Mississippi Phosphates Corporation	Mississippi Potash, Inc.	Eddy Potash, Inc.	Triad Nitrogen, LLC	Melamine Chemicals, Inc.
Beginning Cash Balance	$         5,133	$         5,076	$               0	$               1	$             28	$               0	$             16	$               2	$               0	$               8	$              (0)
Operating Receipts
Deposits	54,031	2,933			36,435		12,320				2,343
Intercompany Deposits	55,438	30,755	7,820	7,658		96	6,454	229		2,426
Total Cash Receipts	109,469	33,688	7,820	7,658	36,435	96	18,774	229	-	2,426	2,343
Operating Disbursements:
Raw Material Purchases	15,417	2,381	7,102				5,922			5	7
Natural Gas	7,311			6,899			197			214
Payroll & Benefits	3,591	3,440		8			41	48		54
Utilities	727	53		101		1	353			143	76
Interest	886	886
Delivery & Storage	2,304		712	73	1,240	1	178			5	95
Operating & Maintenance Materials	1,213	24		295			562			211	122
Taxes, Licenses, Duties, etc.	1,580	1,014		96	6	0	56	0		408
Reorganization	864	857					8
Capital Expenditures	1,042	6		1			187			848
Chemicals	421			129			211			80	1
Insurance	330	330
Trustee Fees	84	10	10	10	10	4	10	10	1	10	10
Intercompany Payments	55,438	7,528			34,987		10,998				1,924
Other	1,673	426	7	115	37	7	497	181		223	181
Total Operating Disbursements	92,882	16,955	7,830	7,727	36,280	13	19,219	239	1	2,203	2,417
Net Cash Flows from Operations	16,586	16,733	(10)	(68)	155	83	(445)	(9)	(1)	224	(74)
Negative Cash Balance Reclassified to Payables	191	84	10	68	(183)	(83)	435	8	1	(223)	74
Net DIP Advances (Payments)	(8,200)	(8,200)
Ending Cash Balances	$       13,710	$       13,693	$               0	$               1	$              (0)	$               0	$               6	$               1	$               0	$               9	$              (0)
Loan Balances
DIP Balance, Beginning	$     106,913	$     106,913	$              -	$              -	$              -	$              -	$              -	$              -	$              -	$              -	$              -
Net DIP Advances (Payments)	(8,200)	(8,200)	-		-	-	-	-	-	-	-
DIP Balance, Ending	98,713	98,713	-	-	-	-	-	-	-	-	-
Accrued Interest	658	658	-	-	-	-	-	-	-	-	-
Total DIP Balances	$       99,371	$       99,371	$              -	$              -	$              -	$              -	$              -	$              -	$              -	$              -	$              -
Cumulative Disbursements-Quarter 2, 2004	$       92,882	$       16,955	$         7,830	$         7,727	$       36,280	$             13	$       19,219	$            239	$               1	$         2,203	$         2,417
Trustee Fees (Dollars):
Beginning Balance	$       84,250	$       10,000	$       10,000	$       10,000	$       10,000	$         3,750	$       10,000	$       10,000	$            500	$       10,000	$       10,000
Estimated	66,250	10,000	10,000	10,000	10,000	250	10,000	750	250	7,500	7,500
Payment	(84,250)	(10,000)	(10,000)	(10,000)	(10,000)	(3,750)	(10,000)	(10,000)	(500)	(10,000)	(10,000)
Ending Balance	$       66,250	$       10,000	$       10,000	$       10,000	$       10,000	$            250	$       10,000	$            750	$            250	$         7,500	$         7,500

FORM 2-E-1
Page 1 of 1

MISSISSIPPI CHEMICAL CORPORATION
Supporting Schedules-Accounts Payable and Accounts Receivable Summary
For the Period:  April 1, 2004 to April 30, 2004
Case Number: 03-2984WEE
(Dollars in Thousands)	Total	0 - 30	31-60	61-90	Over 90
Accounts Payable Aging:
Taxes --
FIT	$            (0)	$              (0)
FICA	(0)	(0)
FUTA	0	0
SIT	118	118
SUTA	(1)	(1)
Other	1,558	1,558
A/P Trade	248	248
A/P Received not paid	12,522	12,522
A/P Consignment parts	(0)	(0)
A/P Freight	845	845
A/P Contract retention	287	287
A/P Competitive discounts	(165)	(165)
A/P Medical claims - IBNR	482	482
A/P Other	4,924	4,924
Employee benefits & withholdings	3,387	3,387
Accrued taxes - Federal & State	26	26
Accrued interest	3,003	3,003
Closure cost - Current	2,800	2,800
	$    30,033	$       30,033	$           -	$           -	$           -
Accounts Receivable Aging:
A/R Trade	$       39,725	33,706	5,540	271	208
A/R Miscellaneous Billings	750	663	4	0	83
A/R Other	2,094	2,094
A/R Affiliates	5	5
Notes Receivable-Employees	0	0
	$       42,573	$       36,468	$         5,544	$            271	$            290

FORM 2-E.2
Page 1 of 1

MISSISSIPPI CHEMICAL CORPORATION
Supporting Schedules-Insurance Coverage Summary
For the Period:  April 1, 2004 to April 30, 2004
Case Number: 03-2984WEE
Type	Carrier/Agent	Coverage ($)	Date of Expiration	Premium Paid
Insurance Schedule:
Excess Workers' Compensation	National Union/Alembic Captive	Statutory	07/01/04	Yes
	Arthur J. Gallagher & Co.	$    1,000,000
Workers' Compensation	National Union/Alembic Captive	Statutory	07/01/04	Yes
	Arthur J. Gallagher & Co.	$    1,000,000
General Liability	National Union/Alembic Captive	$    2,000,000	07/01/04	Yes
	Arthur J. Gallagher & Co.
Automobile Liability	National Union/Alembic Captive	$    2,000,000	07/01/04	Yes
	Arthur J. Gallagher & Co.
Pollution Legal Liability	American International SLIC	$    2,000,000	07/01/04	Yes
	Arthur J. Gallagher & Co.
Maritime Liability	American Home Assurance Company	$    2,000,000	07/01/04	Yes
	Arthur J. Gallagher & Co.
Foreign Casualty Package	ACE	$    1,000,000	07/01/04	Yes
	Arthur J. Gallagher & Co.
Directors & Officers Liability	Federal Insurance Company	$    7,500,000	07/15/04	Yes
	Marsh, Chicago
Excess Directors & Officers Liability	Federal Insurance Company	$    7,500,000	07/15/04	Yes
	Marsh, Chicago
Fiduciary Liability	Federal Insurance Company	$    5,000,000	07/15/04	Yes
	Marsh, Chicago
Excess Liability (1st Layer)	National Union Fire insurance Company	$  25,000,000	07/01/04	Yes
	Arthur J. Gallagher & Co.
Excess Liability (2nd Layer)	ACE	$  25,000,000	07/01/04	Yes
	Arthur J. Gallagher & Co.
Excess Liability (3rd Layer)	AWAC	$  50,000,000	07/01/04	Yes
	Arthur J. Gallagher & Co. and JLT Risk Solution (Bermuda)
Excess Liability (4th Layer)	Starr Excess	$  50,000,000	07/01/04	Yes
	Arthur J. Gallagher & Co.
Property/Time Element Insurance	Lloyd's of London and others	$300,000,000	07/01/04	Yes
	Arthur J. Gallagher & Co., JLT Risk Solutions (London & Bermuda) and Creative Risk Solutions
Transit Insurance	St. Paul Fire & Marine Insurance Company	$    9,000,000	Until Cancelled	Yes
	Marsh, Chicago
Crime Insurance	Federal Insurance Company	$    5,000,000	07/15/04	Yes
	Marsh, Chicago
Special Crime Insurance	Federal Insurance Company	$  10,000,000	07/15/04	Yes
	Marsh, Chicago
Political Risk	Lloyd's of London and others	$292,506,612	07/01/05	Yes
	Arthur J. Gallagher & Co.

FORM 2-E.3
Page 1 of 1

MISSISSIPPI CHEMICAL CORPORATION
Supporting Schedules-Narrative
For the Period:  April 1, 2004 to April 30, 2004
Case Number: 03-2984WEE
DISCUSSION
	A	Mississippi Chemical Corporation filed its plan of reorganization on April 16, 2004.

FORM 2-E.4
Page 1 of 1