OLIN Corp — Director's Dealing 2005

May 5, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: OLIN CORP (OLN)
CIK: 0000074303
Period of Report: 2005-04-26

Reporting Person: RUPP JOSEPH D (Director, President & CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-04-26	Common Stock $1 par value	M	3671	$17.16	Acquired	30371	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-04-26	Employee Stock Option (right to buy)	$17.16	M	3671	Disposed	2005-04-26	Common Stock (3671)	Direct
2005-04-26	Employee Stock Option (right to buy)	$17.16	J	772	Disposed	2005-04-26	Common Stock (772)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock $1 par value	25214.6256	Indirect

Footnotes

F1: The figure shown represents shares of Olin Common Stock acquired on a periodic basis under the Olin Corporation Contributing Employee Ownership Plan (CEOP), a tax-conditioned plan, and held in the Olin Common Stock Fund of the CEOP, in a transaction exempt under Rule 16b-3, and is based on information provided by the Plan Administrator as of March 31, 2005.

F2: Expiration of stock option not required to be reported (no value received).