Exhibit 99.1 Terra Nitrogen Company, L.P.
600 Fourth Street
P.O. Box 6000
Sioux City, IA 51102-6000
www.terraindustries.com

NEWS

For immediate release Contact: Joe A. Ewing
(712) 277-7305
jewing@terraindustries.com

Terra Nitrogen Company, L.P. reports fourth quarter and full-year results;
declares cash distribution

Sioux City, Iowa (Feb. 8, 2007)—Terra Nitrogen Company, L.P. (TNCLP) (NYSE: TNH) today reported net income of $17.5 million, or $.93 per limited partnership unit, on revenues of $118.5 million for the fourth quarter ended Dec. 31, 2006. This compares with a net loss of $8.4 million, or $.45 per unit, on revenues of $117.7 million for the 2005 fourth quarter. For 2006, TNCLP’s net income was $46.2 million, or $2.45 per unit, on revenues of $425.1 million, compared to net income of $55.9 million, or $2.95 per unit, on revenues of $455.5 million for 2005.

TNCLP also announced a cash distribution for the quarter ended Dec. 31, 2006, of $.97 per limited partnership unit payable Feb. 27, 2007, to holders of record as of Feb 15, 2007.

Analysis of results

The improvement over the 2005 fourth quarter was mainly due to a $46 million reduction in natural gas costs and higher sales volumes. These factors were partially offset by a $20 million decline from the prior year’s ammonia and UAN selling prices.

The decline in TNCLP’s 2006 net income was due to lower ammonia and UAN sales volumes and lower UAN selling prices, partially offset by higher ammonia selling prices and lower natural gas costs. The lower sales volumes were mainly due to fewer planted corn acres and reduced fertilizer application rates in the 2006 first half. Natural gas prices decreased 9 percent from those incurred in 2005 due to increased levels of natural gas in storage. Forward natural gas purchase contracts increased 2006 costs by approximately $25.3 million.

Forward natural gas position

TNCLP’s forward purchase contracts at Dec. 31, 2006, fixed prices for about 22 percent of its next 12 months’ natural gas requirements at $6.5 million above the published forward market prices at that date.

About TNCLP

Terra Nitrogen Company, L.P. is a leading manufacturer of nitrogen fertilizer products.

Forward-looking statements

This news release may contain forward-looking statements, which involve inherent risks and

uncertainties. Statements that are not historical facts, including statements about TNCLP’s beliefs, plans or expectations, are forward-looking statements. These statements are based on current plans, estimates and expectations. Actual results may differ materially from those projected in such forward-looking statements and therefore you should not place undue reliance on them. A non-exclusive list of the important factors that could cause actual results to differ materially from those in such forward-looking statements is set forth in TNCLP’s most recent report on Form 10-K and TNCLP’s other documents on file with the Securities and Exchange Commission. TNCLP undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.

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Note:  Terra Nitrogen Company, L.P. news announcements are also available on Terra Industries’ website, www.terraindustries.com.

(Tables follow)

Terra Nitrogen Company, L.P.

Condensed Consolidated Statements of Income
(in thousands except per-unit amounts)
(unaudited)

	Three Months Ended						Twelve Months Ended
	December 31,						December 31,
	2006			2005			2006			2005
Product revenues	$	118,272		$	117,609		$	424,698		$	454,784
Other income		203			114			399			738
Total revenues		118,475			117,723			425,097			455,522
Cost of goods sold		99,165			124,387			371,971			392,330
Gross profit		19,310			(6,664	)		53,126			63,192
Operating expenses		2,343			1,772			8,634			7,711
Interest expenses—net		(576	)		(21	)		(1,700	)		(460	)
Net income	$	17,543		$	(8,415	)	$	46,192		$	55,941
Earnings per limited partnership unit	$	0.93		$	(0.45	)	$	2.45		$	2.95

The amount of net income allocable to the Limited Partners’ interest is based on the Partnership’s net income and the proportionate share of cash distributed to the Limited Partners and the General Partner.

Nitrogen Volumes and Prices

	2006				2005
	Sales		Average		Sales		Average
	Volumes		Unit Price*		Volumes		Unit Price*
Quarter	(000 tons)		($/ton)		(000 tons)		($/ton)
Ammonia		106		309		79		363
UAN		569		126		523		150
	2006				2005
	Sales		Average		Sales		Average
	Volumes		Unit Price*		Volumes		Unit Price*
Year to Date	(000 tons)		($/ton)		(000 tons)		($/ton)
Ammonia		274		344		286		325
UAN		2,089		135		2,178		148

* After deducting outbound freight costs.

Terra Nitrogen Company, L.P.

Condensed Consolidated Balance Sheets
(in thousands)
(unaudited)

	December 31,
	2006		2005
ASSETS
Cash and cash equivalents	$	62,287	$	7,491
Demand deposit with affiliate		2,457		26,505
Accounts receivable		37,676		32,088
Inventories		22,709		26,732
Other current assets		3,334		12,356
Total current assets		128,463		105,172
Property, plant and equipment, net		74,096		75,920
Other assets		15,655		10,200
Total assets	$	218,214	$	191,292
LIABILITIES
Short-term note and current portion of long-term debt	$	—	$	12
Accounts payable and accrued liabilities		38,342		25,113
Customer prepayments		35,326		31,673
Total current liabilities		73,668		56,798
Long-term liabilities		474		135
Total liabilities		74,142		56,933
PARTNERS’ EQUITY		144,072		134,359
Total liabilities and partners’ equity	$	218,214	$	191,292