EXHIBIT 99.1
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                                               Investor Contact: Richard E. Koch
                                                                  (203) 750-3254

                                             Press Contact: Thomas J. Fitzgerald
                                                                  (203) 750-3831

[LOGO] Olin News
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Olin Corporation, P.O. Box 4500, 501 Merritt 7, Norwalk, CT  06856-4500

                                                           FOR IMMEDIATE RELEASE

               Olin Corporation to Acquire Monarch Brass & Copper

     NORWALK, CT, May 17, 2001 - Olin Corporation (NYSE: OLN) today announced it
has signed a definitive agreement to acquire Monarch Brass & Copper Corp., a
privately held specialty brass manufacturer headquartered in Waterbury,
Connecticut. Monarch produces and distributes an array of high performance
copper alloys and other materials used for applications in electronics,
telecommunications, automotive and building products. Terms of the agreement
were not disclosed.

     Monarch employs 245 at its various production and distribution facilities
in Waterbury and Seymour, CT; New Rochelle, NY; and Pawtucket, RI.

     The acquisition is subject to customary closing conditions. Olin will not
comment on any aspect of the transaction until after closing, which is expected
to occur in June.

     Headquartered in Norwalk, CT, Olin Corporation had 2000 sales of $1.5
billion. The company is a leading North American producer of copper and
copper-based alloys, sporting ammunition, and chlorine and caustic soda.

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Except for historical information contained herein, the information set forth in
this communication contains forward-looking statements that are based on
management's beliefs, certain assumptions made by management and current
expectations, estimates and projections about the markets and economy in which
Olin and its respective divisions operate. Words such as "anticipates,"
"expects," "believes," "should," "plans," "will," "estimates," and variations of




such words and similar expressions are intended to identify such forward-looking
statements. These statements are not guarantees of future performance and
involve certain risks, uncertainties and assumptions ("Future Factors") which
are difficult to predict. Therefore, actual outcomes and results may differ
materially from what is expected or forecasted in such forward-looking
statements. Olin undertakes no obligation to update publicly any forward-looking
statements, whether as a result of future events, new information or otherwise.
Future Factors which could cause actual results to differ materially from those
discussed include but are not limited to: general economic and business and
market conditions, competitive pricing pressures; changes in Chlor Alkali's ECU
prices from expected levels; Chlor Alkali operating rates below anticipated
levels; higher-than-expected raw material costs; higher-than-expected
transportation and/or logistics costs; a protracted work stoppage in connection
with collective bargaining negotiations with labor unions; the supply/demand
balance for Olin's products, including the impact of excess industry capacity;
efficacy of new technologies; changes in U.S. laws and regulations; failure to
achieve targeted cost reduction programs; capital expenditures, such as cost
overruns, in excess of those scheduled; environmental costs in excess of those
projected; and the occurrence of unexpected manufacturing interruptions/outages.