OLIN Corp — Director's Dealing 2007

Nov 5, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: OLIN CORP (OLN)
CIK: 0000074303
Period of Report: 2007-11-01

Reporting Person: PAIN GEORGE H (Vice President)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-11-01	Phantom Stock Units	$	A	1838.2462	Acquired		Common Stock (1838.2462)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock $1 par value	0.4272	Direct
Common Stock $1 par value	7028	Indirect
Common Stock $1 par value	983.3119	Indirect

Footnotes

F1: Represents shares acquired under the Olin Corporation dividend reinvestment plan.

F2: The figure shown represents shares of Olin Common Stock acquired on a periodic basis under the Olin 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 November 1, 2007.

F3: Each phantom stock unit is the economic equivalent of one share of Olin common stock.

F4: Phantom shares held in an Olin Corporation excess benefit plan, settled on the reporting person's retirement or other termination.

F5: The figure includes phantom stock units acquired on a periodic basis.