Olin (OLN) 10-Q 2008 Q2 Quarterly report

                                          &# 160;                                 Exhibit 12

OLIN CORPORATION AND CONSOLIDATED SUBSIDIARIES

Computation of Ratio of Earnings to Fixed Charges

(In millions)

(Unaudited)

	Six Months Ended June 30,
	2008			2007
Earnings:
Income from continuing operations before taxes	$	113.7		$	56.7
Add (deduct):
Equity in income of non-consolidated affiliates		(19.1	)		(20.3	)
Capitalized interest		(1.1	)		–
Fixed charges as described below		15.3			14.3
Total	$	108.8		$	50.7
Fixed Charges:
Interest expensed and capitalized	$	9.3		$	9.9
Estimated interest factor in rent expense(1)		6.0			4.4
Total	$	15.3		$	14.3
Ratio of earnings to fixed charges		7.1			3.5

(1) Amounts represent those portions of rent expense that are reasonable approximations of interest costs.