<PAGE>
EXHIBIT 99.2
------------
Investor Contact: Richard E. Koch
(203) 750-3254
Press Contact: Thomas J. Fitzgerald
(203) 750-3831
Olin News
--------------------------------------------------------------------------------
Olin Corporation, P.O. Box 4500, 501 Merritt 7, Norwalk, CT 06856-4500
FOR IMMEDIATE
RELEASE
Olin Presentation Slated for Salomon Smith Barney Chemical Conference
---------------------------------------------------------------------
NORWALK, CT, December 4, 2000 - Olin Corporation (NYSE: OLN) senior management
will provide insights into Olin's growth prospects and provide guidance
regarding the company's forecasted earnings in a presentation to securities
analysts tomorrow at the annual Salomon Smith Barney Chemical Conference in New
York City. Scheduled presenters include Anthony W. Ruggiero, Executive Vice
President and Chief Financial Officer and Joseph D. Rupp, President of Olin
Brass.
In October, the company forecast that its full year 2000 earnings per share
would be in the $1.85 range, as compared with $.36 from continuing operations in
1999. The company's preliminary forecast for 2001 at that time indicated that
Olin would post strong earnings growth over this year, with earnings per share
increasing about 35% to the $2.50 range.
However, earlier today Olin announced that the company and the International
Association of Machinists & Aerospace Workers District #9 were unable to agree
on a new labor contract for approximately 2,700 Brass and Winchester division
hourly paid employees at Olin's East Alton, Illinois facility. As a result, the
company now anticipates that the strike may cause fiscal 2000 results to be in
the $1.80 per share
<PAGE>
range but noted that it is premature to evaluate what effect, if any, this
strike may have on its 2001 forecast of $2.50 per share.
The presentation will be audio webcast live and is available to all investors,
news media and the general public at
http://www.veracast.com/ssb2/chemicals 2000/clientaccess/21103242.cfm. Prepared
---------------------------------------------------------------------
remarks will be posted in the Investors section of Olin's web site at
www.olin.com following the presentation. The presentation also will be archived
------------
and available for replay on Olin's web site.
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.
____________
Except for historical information contained herein, the information set forth in
this communication contains forward-looking statements that are based on
management's beliefs, certain assumptions made by management and current
expectations, estimates and projections about the markets and economy in which
Olin and its respective divisions operate. Words such as "anticipates,"
"expects," "believes," "should," "plans," "will," "estimates," and variations
of such words and similar expressions are intended to identify such forward-
looking statements. These statements are not guarantees of future performance
and involve certain risks, uncertainties and assumptions ("Future Factors")
which are difficult to predict. Therefore, actual outcomes and results may
differ materially from what is expected or forecasted in such forward-looking
statements. Olin does not undertake any obligation to update publicly any
forward-looking statements, whether as a result of future events, new
information or otherwise. Future Factors which could cause actual results to
differ materially from those discussed include but are not limited to: general
economic and business and market conditions, lack of moderate growth in the U.S.
economy or even a slight recession in any period or year; competitive pricing
pressures; changes in Chlor Alkali's ECU prices from expected levels; Chlor
Alkali operating rates below anticipated levels; higher-than-expected raw
material costs; higher-than-expected transportation and/or logistics costs; a
protracted work stoppage in connection with collective bargaining negotiations
with labor unions; a downturn in any of the markets Olin serves such as
electronics, automotive, ammunition and housing; the supply/demand balance for
Olin's products, including the impact of excess industry capacity; efficacy of
new technologies; changes in U.S. laws and regulations; failure to achieve
targeted cost reduction programs; capital expenditures, such as cost overruns,
in excess of those scheduled; environmental costs in excess of those projected;
and the occurrence of unexpected manufacturing interruptions/outages.
