SCP POOL CORPORATION PLANS TO ACQUIRE ADDITIONAL SERVICE CENTERS; PROPOSED TRANSACTION INVOLVES SALE OF CHEMICAL MARKETING UNIT.

COVINGTON, La.--(BUSINESS WIRE)--July 15, 1996--SCP Pool Corporation ("SCP") (Nasdaq/NM:POOL) today announced that it has entered into a preliminary letter of intent with BioLab, Inc. ("BioLab"), a wholly owned subsidiary of Great Lakes Chemical Corporation (NYSE:GLK). Under the agreement, SCP would expand its network of service centers by acquiring certain assets of The B-L Network, Inc., a subsidiary of BioLab which distributes swimming pool supplies through 39 service centers in 12 states. The agreement would also involve the purchase by BioLab of certain assets of SCP's Alliance Packaging subsidiary, which repackages and markets swimming pool chemicals. Terms of the agreement were not announced; and closing of the transaction is subject to customary conditions, including negotiation of binding purchase and sale agreements, completion of due diligence by both parties, receipt of regulatory approvals and approval by the respective board of directors of both SCP and BioLab.

W.B. Sexton, Chairman of SCP, said, "Although our discussions with BioLab remain preliminary, we believe that the transaction contemplated by the letter of intent represents a way for each company to achieve a meaningful advance in its respective core business. From a financial standpoint, SCP would be gaining incremental net sales of more than $100 million annually. The addition of these 39 service centers to our current operating base of 44 centers would significantly expand SCP's geographic presence, particularly in the sizable Florida market where we currently have only a limited operating base. We would also be gaining a stronger competitive position in areas which SCP is now serving, including California and Arizona. BioLab would gain incremental sales in its main business of marketing swimming pool chemicals and would have the opportunity to serve an expanded customer base, especially among independent wholesale distributors. The agreement does include a long-term supply agreement with BioLab covering a substantial portion of SCP's purchases of swimming pool chemicals, thereby assuring us a stable source of supply at the most competitive level."

Sexton continued, "An important aspect of our due diligence relating to this transaction will involve an evaluation of its potential impact on SCP's financial performance. Similar to our strategy in acquiring other service centers, our goal will be to integrate the additional facilities and personnel as quickly as possible to achieve a positive return on our investment. However, as a result of the seasonal nature of our business, the acquisition is likely to increase the losses we typically incur in the fourth quarter of the year and is not expected to benefit our bottom-line results until at least the second quarter of next year."

There can be no assurance that any transaction with BioLab will be consummated or that a transaction will be consummated under the terms currently contemplated.

In the year ended December 31, 1995, SCP reported net sales of $161.1 million.

SCP Pool Corporation is the largest independent distributor of swimming pool supplies and related products (based on revenues). Through 44 service centers in 22 states, the Company distributes more than 25,000 national brand and private label products to over 10,000 customers.

CONTACT: SCP Pool Corporation, Covington

Maurice D. Van Dyke, 504/892-5521