-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 CnQ06xoJN3+xP6cQpoV/JL3HdK9/thsnE9hvGps+cViXdaclAdzlOhLDvEgY89MP
 NL9vbAGZjm08GaRDK/iKtQ==

<SEC-DOCUMENT>0000093748-09-000076.txt : 20090217
<SEC-HEADER>0000093748-09-000076.hdr.sgml : 20090216
<ACCEPTANCE-DATETIME>20090217165458
ACCESSION NUMBER:		0000093748-09-000076
CONFORMED SUBMISSION TYPE:	SC 13G
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20090217
DATE AS OF CHANGE:		20090217

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			OLIN CORP
		CENTRAL INDEX KEY:			0000074303
		STANDARD INDUSTRIAL CLASSIFICATION:	CHEMICALS & ALLIED PRODUCTS [2800]
		IRS NUMBER:				131872319
		STATE OF INCORPORATION:			VA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13G
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-13333
		FILM NUMBER:		09615005

	BUSINESS ADDRESS:	
		STREET 1:		OLIN CORP
		STREET 2:		190 CARONDELET PLAZA SUITE 1530
		CITY:			CLAYTON
		STATE:			MO
		ZIP:			63105
		BUSINESS PHONE:		3144801400

	MAIL ADDRESS:	
		STREET 1:		OLIN CORP
		STREET 2:		190 CARONDELET PLAZA SUITE 1530
		CITY:			CLAYTON
		STATE:			MO
		ZIP:			63105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	OLIN MATHIESON CHEMICAL CORP
		DATE OF NAME CHANGE:	19691008

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			STATE STREET BANK & TRUST CO
		CENTRAL INDEX KEY:			0000093748
		STANDARD INDUSTRIAL CLASSIFICATION:	UNKNOWN SIC - 0000 [0000]
		IRS NUMBER:				041867445
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13G

	BUSINESS ADDRESS:	
		STREET 1:		1200 CROWN COLONY DRIVE
		STREET 2:		CROWN COLONY
		CITY:			QUINCY
		STATE:			MA
		ZIP:			02169
		BUSINESS PHONE:		6175378406

	MAIL ADDRESS:	
		STREET 1:		1200 CROWN COLONY DRIVE
		STREET 2:		CROWN COLONY
		CITY:			QUINCY
		STATE:			MA
		ZIP:			02169
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13G
<SEQUENCE>1
<FILENAME>olin08.txt
<TEXT>
                              UNITED STATES
                    SECURITIES AND EXCHANGE COMMISSION
                         WASHINGTON, D.C. 20549

                              SCHEDULE 13G

               UNDER THE SECURITIES EXCHANGE ACT OF 1934
                     	      ANNUAL FILING

OLIN CORPORATION
(NAME OF ISSUER)
COMMON
(TITLE CLASS OF SECURITIES)
680665205
(CUSIP NUMBER)
12/31/2008
(DATE OF EVENT WHICH REQUIRES FILING OF THIS STATEMENT)

CHECK THE APPROPRIATE BOX TO DESIGNATE THE RULE PURSUANT TO WHICH THIS
SCHEDULE IS FILED:

			(X)  RULE 13D-1(B)
			( )  RULE 13D-1(C)
			( )  RULE 13D-1(D)

*THE REMAINDER OF THIS COVER PAGE SHALL BE FILLED OUT FOR A
REPORTING PERSON'S INITIAL FILING ON THIS FORM WITH RESPECT TO THE
SUBJECT CLASS OF SECURITIES, AND FOR ANY SUBSEQUENT AMENDMENT
CONTAINING INFORMATION WHICH WOULD ALTER THE DISCLOSURES PROVIDED
IN A PRIOR COVER PAGE.

THE INFORMATION REQUIRED IN THE REMAINDER OF THIS COVER PAGE SHALL
NOT BE DEEMED TO BE "FILED" FOR THE PURPOSE OF SECTION 18 OF THE
SECURITIES EXCHANGE ACT OF 1934 ("ACT") OR OTHERWISE SUBJECT TO THE
LIABILITIES OF THAT SECTION OF THE ACT BUT SHALL BE SUBJECT TO ALL
OTHER PROVISIONS OF THE ACT (HOWEVER, SEE THE NOTES).




















CUSIP NO. 680665205				13G			 PAGE 2 OF 5 PAGES


1.  NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF PERSON
STATE STREET BANK AND TRUST COMPANY, ACTING IN VARIOUS FIDUCIARY
CAPACITIES.		04-1867445

2.  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP.*

    NOT APPLICABLE                                   A __
                                                     B __
3.  SEC USE ONLY

4.  CITIZENSHIP OR PLACE OF ORGANIZATION

    BOSTON, MASSACHUSETTS

5.  SOLE VOTING POWER
    2,416,844 SHARES
6.  SHARED VOTING POWER
    3,968,034 SHARES
7.  SOLE DISPOSITIVE POWER
    0 SHARES
8.  SHARED DISPOSITIVE POWER
    6,384,878 SHARES
9.  AGGREGATED AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    6,384,878 SHARES
10.  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
     SHARES*
     NOT APPLICABLE
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
     8.3%
12.  TYPE OF REPORTING PERSON*
     BK


 					13G        PAGE 3 OF 5 PAGES
ITEM 1.
  (A)  NAME OF ISSUER
 	  OLIN CORPORATION

  (B)  ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES
       190 CARONDELET PLAZA, SUITE 1530
	  CLAYTON, MO 63105
ITEM 2.

     (A)  NAME OF PERSON FILING
          STATE STREET BANK AND TRUST COMPANY, TRUSTEE


     (B)  ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE,
          RESIDENCE

          STATE STREET FINANCIAL CENTER
		ONE LINCOLN STREET
		BOSTON, MA 02111


     (C)  CITIZENSHIP

          BOSTON, MASSACHUSETTS

	(D)	TITLE CLASS OF SECURITIES
		COMMON

	(E)	CUSIP NUMBER
		680665205

ITEM 3.   IF THIS STATEMENT IS FILED PURSUANT TO RULE 13D-1(B), OR
		13D-2(B), CHECK WHETHER THE PERSON FILING IS A:

     (B)  _X_  BANK AS DEFINED IN SECTION 3(A)(6) OF THE ACT



						13G		PAGE 4 OF 5 PAGES

ITEM 4. OWNERSHIP
(A)	AMOUNT BENEFICIALLY OWNED
       6,384,878 SHARES

(B)	PERCENT OF CLASS
8.3%

  (C)  NUMBER OF SHARES AS TO WHICH SUCH PERSON HAS:
    (I)  SOLE POWER TO VOTE OR TO DIRECT THE VOTE OF
         2,416,844 SHARES
   (II)  SHARED POWER TO VOTE OR TO DIRECT THE VOTE OF
         3,968,034 SHARES
  (III)  SOLE POWER TO DISPOSE OR TO DIRECT THE DISPOSITION OF
         0 SHARES
   (IV)  SHARED POWER TO DISPOSE OR TO DIRECT THE DISPOSITION OF
         6,384,878 SHARES

ITEM 5.   OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS

          NOT APPLICABLE

ITEM 6.   OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER
          PERSON.

		OLIN CORPORTION CONTRIBUTING EMPLOYEE OWNERSHIP PLAN = 5.16%

ITEM 7.  IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH
ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING
COMPANY

          NOT APPLICABLE

ITEM 8.  IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP

          NOT APPLICABLE

ITEM 9.  NOTICE OF DISSOLUTION OF GROUP

          NOT APPLICABLE


                          13G                PAGE 5 OF 5 PAGES

ITEM 10.  CERTIFICATION

          THE FOLLOWING CERTIFICATION SHALL BE INCLUDED IF THE
          STATEMENT IS FILED PURSUANT TO RULE 13D-1(B):

          BY SIGNING BELOW I CERTIFY THAT, TO THE BEST OF MY
KNOWLEDGE AND BELIEF, THE SECURITIES REFERRED TO ABOVE WERE
ACQUIRED IN THE ORDINARY COURSE OF BUSINESS AND WERE NOT ACQUIRED
FOR THE PURPOSE OF AND DO NOT HAVE THE EFFECT OF CHANGING OR
INFLUENCING THE CONTROL OF THE ISSUER OF SUCH SECURITIES AND WERE
NOT ACQUIRED IN CONNECTION WITH OR AS A PARTICIPANT IN ANY
TRANSACTION HAVING SUCH PURPOSES OR EFFECT.

     THIS REPORT IS NOT AN ADMISSION THAT STATE STREET BANK AND
TRUST COMPANY IS THE BENEFICIAL OWNER OF ANY SECURITIES COVERED BY
THIS REPORT, AND STATE STREET BANK AND TRUST COMPANY EXPRESSLY
DISCLAIMS BENEFICIAL OWNERSHIP OF ALL SHARES REPORTED HEREIN
PURSUANT TO RULE 13D-4.

                         SIGNATURE

     AFTER REASONABLE INQUIRY AND TO THE BEST OF MY KNOWLEDGE AND
BELIEF, I CERTIFY THAT THE INFORMATION SET FORTH IN THIS STATEMENT
IS TRUE, COMPLETE AND CORRECT.

17 FEBRUARY 2009
STATE STREET CORPORATION
STATE STREET BANK AND TRUST COMPANY,
TRUSTEE


/s/ SYDNEY MARZEOTTI
    VICE PRESIDENT
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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