<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>3
<FILENAME>a4564891ex991.txt
<DESCRIPTION>EXHIBIT 99.1 PRESS RELEASE
<TEXT>
                                                                    Exhibit 99.1



         Olin Agrees to Sell 10 Million Shares of Common Stock

   NORWALK, Conn.--(BUSINESS WIRE)--Feb. 3, 2004--Olin Corporation
(NYSE:OLN) announced today that it has agreed to sell 10 million
shares of its common stock to Morgan Stanley & Co. Incorporated. Olin
expects Morgan Stanley & Co. Incorporated to resell the shares at a
public offering price initially of $18.00. The sale is being made
pursuant to Olin's existing shelf registration statement previously
filed with, and declared effective by, the Securities and Exchange
Commission.
   Net proceeds from the sale are expected to be approximately $178
million and will be used to make a voluntary contribution of $125
million to Olin's pension plan with the balance available for general
corporate purposes.
   Headquartered in Norwalk, CT, Olin is a leading North American
producer of copper and copper-based alloys, sporting ammunition, and
chlorine and caustic soda.

   This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of these
securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities law of any such jurisdiction. The
offering may be made only by means of a prospectus and related
prospectus supplement, copies of which may be obtained from Morgan
Stanley & Co. Incorporated, Prospectus Department, 1585 Broadway, New
York, NY 10036 (telephone number 212-761-8570).

   2004 - 5

    CONTACT: Investor Contact:
             Richard E. Koch, 203-750-3254
              OR
             Press Contact:
             Thomas J. Fitzgerald, 203-750-3831


</TEXT>
</DOCUMENT>
