OLIN Corp — Director's Dealing 2007

Feb 15, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: OLIN CORP (OLN)
CIK: 0000074303
Period of Report: 2007-02-13

Reporting Person: PAIN GEORGE H (Vice President)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-02-13	Employee Stock Option (right to buy)	$16.52	A	35250	Acquired	2017-02-12	Common Stock (35250)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock $1 par value	51.8641	Direct
Common Stock $1 par value	3075	Indirect
Common Stock $1 par value	981.8528	Indirect

Footnotes

F1: Represents 51.8641 shares acquired under the Olin Corporation dividend reinvestment plan.

F2: Represents shares held in a revocable trust controlled by the reporting person's spouse and for the benefit of his spouse.

F3: 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 January 15, 2007.

F4: The ooption vests in three annual installments beginning February 13, 2008.