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EXHIBIT 99.1
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Investor Contact: Richard Koch
(203) 750-3254
Press Contact: Tom Fitzgerald
(203) 750-3831
Olin News
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Olin Corporation, P.O. Box 4500, 501 Merritt 7, Norwalk, CT 06856-4500
FOR IMMEDIATE RELEASE
Olin and Occidental Extend Letter of Intent
NORWALK, CT, August 17, 2000 -- Olin Corporation said today it has agreed
with Occidental Petroleum Corporation to extend their letter of intent to
combine their chlor-alkali businesses.
Olin said it expects to reach a definitive agreement with Occidental early in
the fourth quarter of 2000.
The two companies announced on June 28 that they had signed a letter of intent
to combine their chlor-alkali operations.
Headquartered in Norwalk, CT., Olin Corporation had 1999 sales of $1.3 billion
and approximately 6,700 employees. The company is a leading North American
producer of copper and copper-based alloys, sporting ammunition and chlorine and
caustic soda.
