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GREAT LAKES ANNOUNCES 3Q AND Y-T-D RESULTS

 WEST LAFAYETTE, Ind., Oct. 18 /PRNewswire/ ---Great Lakes Chemical Corporation (NYSE: GLK) today reported earnings and record revenues for both the third quarter and for the first nine months of 1993.
 Net income for the 1993 third quarter climbed 14.2 percent to $68,497,000, or $.96 per share from the $60,002,000, or $.84 per share, earned in the corresponding quarter of last year. Revenues for the quarter rose to $476,242,000 from the $374,893,000 posted in the same period of 1992.
 For the first nine months of the year, earnings jumped 18.1 percent to $202,845,000, or $2.84 per share, compared to $171,814,000, or $2.42 per share, for the same period of last year. Revenues for the period grew to $1,383,587,000, or an increase of 23.7 percent over the $1,118,193,000 reported for the first nine months of 1992.
 A non-recurring tax adjustment constricted earnings for the 1993 third quarter by $1.5 million, reducing earnings on a per share basis from $.98 per share to $.96 per share. This amount represents the impact on earnings due to recent changes in federal tax laws resulting from passage of the 1993 Tax Act.
 Emerson Kampen, Great Lakes' chairman, president and chief executive officer, commented on the company's record-setting performance, "Clearly, the first nine months of the year have been a resounding success. We continue to meet and surpass our growth objectives despite the limiting effects of sluggish economies in many parts of the world."
 "Much of this success," he went on to say, "can be attributed to the highly specialized nature of Great Lakes' bromine-based technology. Demand for many of the Company's derivatives, ranging from flame retardants to clear drilling fluids to water treatment chemicals, reached a point where several of our manufacturing units are running at unprecedented levels. We have completed incremental increases in bromine capacity and other derivative production that should satisfy the most immediate market needs."
 He also noted the outstanding performance of two subsidiaries -- OSCA, Inc., and Bio-Lab, Inc. "Benefiting from a resurgence in the domestic natural gas market as well as increased penetration of international oil production, OSCA has nearly tripled its business from a year ago. Bio-Lab registered the best third quarter in its history as a result of new product introductions, expanded distribution into mass merchandising outlets and excellent weather conditions during the pool season."
 Turning to the Petroleum Additives Group, Kampen commented on two factors which enhanced Octel's performance. "Through an extension of its agreement with Du Pont, our Octel Associates affiliate recently began supplying additional quantities of antiknock compound to Du Pont for the Mexico market. Octel also completed its initiative to make the company less susceptible to swings in the relationship between the British Pound Sterling and the U.S. Dollar.
 Kampen concluded, "Great Lakes' performance in the quarter and year to date again underscores our ability to sustain a high level of growth from new as well as existing businesses. The months ahead hold no less promise."
 Great Lakes Chemical Corporation, a Fortune 500 company, is the world's leading producer of bromine, brominated chemicals and furfural derivatives for such applications as flame retardants, agriculture, oil and gas well completion fluids, water sanitizers and other specialty applications. The stock of the company is traded on the New York Stock Exchange.
 Great Lakes Chemical Corporation and Subsidiaries
 Consolidated Statements of Income (Unaudited)
 (thousands of dollars, except per share data)
 For the Three Months Ended Sept. 30,
 1993 1992 Percent
 Change
 Revenues
 Net Sales $469,656 $365,789 28.4
 Equity in earnings of
 affiliates and other income 6,586 9,104 (27.7)
 Total 476,242 374,893 27.0
 Costs and Expenses
 Cost of products sold 302,825 226,776 33.5
 Selling, administrative and
 research expenses 58,175 46,028 26.4
 Interest and other expenses 9,870 8,974 10.0
 Total 370,870 281,778 31.6
 Income Before Taxes and
 Minority Interest 105,372 93,115 13.2
 Minority Interest in Income
 of Subsidiaries 8,175 7,513 8.8
 Income Before Taxes 97,197 85,602 13.5
 Income Taxes 28,700 25,600 12.1
 Net Income $ 68,497 $ 60,002 14.2
 Net Income per Share $ 0.96 $ 0.84 14.3
 Average Shares Outstanding 71,265,750 71,230,868
 Great Lakes Chemical Corporation and Subsidiaries
 Consolidated Statements of Income (unaudited)
 (thousands of dollars, except per share data)
 For the Nine Months Ended Sept. 30,
 1993 1992 Percent
 Change
 Revenues
 Net Sales $1,361,671 $1,091,932 24.7
 Equity in earnings of
 affiliates and other income 21,916 26,261 (16.5)
 Total 1,383,587 1,118,193 23.7
 Costs and Expenses
 Cost of products sold 864,235 686,817 25.8
 Selling, administrative and
 research expenses 179,941 133,694 34.6
 Interest and other expenses 31,575 28,856 9.4
 Total 1,075,751 849,367 26.7
 Income Before Taxes and
 Minority Interest 307,836 268,826 14.5
 Minority Interest in Income
 of Subsidiaries 24,091 21,012 14.7
 Income Before Taxes 283,745 247,814 14.5
 Income Taxes 80,900 76,000 6.4
 Net Income $ 202,845 $ 171,814 18.1
 Net Income per Share $ 2.84 $ 2.42 17.4
 Average Shares Outstanding 71,353,911 71,105,590
 -0- 10/18/93
 /CONTACT: David R. Bouchard or Gregory J. Griffith of Great Lakes Chemical, 317-497-6100/
 (GLK)


CO: Great Lakes Chemical Corporation ST: Indiana IN: CHM SU: ERN

BM -- CL024 -- 3441 10/18/93 13:48 EDT
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Date:Oct 18, 1993
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