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GREAT LAKES ANNOUNCES RECORD RESULTSFOR FOURTH QUARTER AND FULL YEAR 1992

 WEST LAFAYETTE, Ind., Jan. 29 /PRNewswire/ -- Great Lakes Chemical Corporation (NYSE: GLK) today announced record earnings and revenues for both the fourth quarter and full year of 1992.
 Net income for the year 1992 rose 48 percent to $232,735,000, or $3.27 per share, versus the Company's previous all-time high of $157,473,000, or $2.23 per share, reported in 1991. Revenues gained 14 percent to $1,538,169,000 from the $1,347,881,000 posted last year.
 For the fourth quarter of 1992, net income increased to $60,921,000, or $.85 per share, representing a 54 percent jump over the $39,669,000, or $.56 per share, earned in the 1991 fourth quarter. Revenues advanced to $419,976,000, or 25 percent higher than the $335,120,000 generated in the corresponding quarter of the previous year.
 Emerson Kampen, Great Lakes Chemical Corporation's chairman, president and CEO, commented on the company's record-setting results, "We are proud of yet another record quarter and the continued rise in our annual operating results. 1992 marks our sixth consecutive year of record sales and earnings."
 "Even more noteworthy," he added, "the company's outstanding financial performance in 1992 does not fully reflect Great Lakes' earnings capabilities. In addition to the costs associated with assimilating our recent acquisitions, the dollar's strength vis-a-vis major international currencies constricted profits in the fourth quarter."
 Kampen then elaborated on the positive business trends of the last three months of 1992. "Sales of certain bromine derivatives remained strong. Led primarily by flame retardant compounds and water treatment chemicals for industrial applications, these businesses benefited from healthy conditions in the United States and new product penetrations into international markets."
 He also pointed out that two wholly-owned subsidiaries, QO Chemicals and OSCA, recorded measurable improvement from the previous quarter and one year ago. "The aggressive measures initiated over the last twelve months to reduce operating costs have begun to pay off. Consequently, both companies are well-positioned for the year ahead."
 He went on to say, "On a total volume basis, Octel Associates continued to meet our most ambitious expectations. Current market projections indicate that no change in anticipated demand is expected in the near future."
 "1993 holds great promise for building on the company's current success," Kampen concluded. "Our fundamentally sound, growing core businesses, complemented by several strategic acquisitions made during 1992, offer the means by which we intend to keep Great Lakes on track for yet another banner year."
 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
 (thousands of dollars, except per share data)
 For the Twelve Months Ended Dec. 31,
 1992 1991 Pct. Change
 Revenues
 Net Sales $ 1,496,478 $1,307,607 14.4
 Equity in earnings of
 affiliates and other
 income 41,691 40,274 3.5
 1,538,169 1,347,881 14.1
 Costs and Expenses
 Cost of products sold 944,186 833,584 13.3
 Selling, administrative &
 research expenses 189,282 164,156 15.3
 Interest and other expenses 43,679 29,820 46.5
 1,177,147 1,027,560 14.6
 Income Before Taxes and
 Minority Interest 361,022 320,321 12.7
 Minority Interest in Income
 of Subsidiaries 28,287 94,848 (70.2)
 Income Before Taxes 332,735 225,473 47.6
 Income Taxes 100,000 68,000 47.1
 Net Income $ 232,735 $ 157,473 47.8
 Net Income per Share $ 3.27 $ 2.23 46.6
 Average Shares
 Outstanding 71,164,010 70,700,332
 Great Lakes Chemical Corporation and Subsidiaries
 Consolidated Statements of Income
 (thousands of dollars, except per share data)
 For the Three Months Ended Dec. 31,
 1992 1991 Pct. Change
 Revenues
 Net Sales $ 404,546 $ 321,865 25.7
 Equity in earnings of
 affiliates and other
 income 15,430 13,255 16.4
 419,976 335,120 25.3
 Costs and Expenses
 Cost of products sold 257,369 203,229 26.6
 Selling, administrative and
 research expenses 55,588 41,637 33.5
 Interest and other
 expenses 14,823 9,387 57.9
 327,780 254,253 28.9
 Income Before Taxes and
 Minority Interest 92,196 80,867 14.0
 Minority Interest in Income
 of Subsidiaries 7,275 26,798 (72.9)
 Income Before Taxes 84,921 54,069 57.1
 Income Taxes 24,000 14,400 66.7
 Net Income $ 60,921 $ 39,669 53.6
 Net Income per Share $ 0.85 $ 0.56 51.8%
 Average Shares
 Outstanding 71,337,999 70,885,530
 -0- 1/29/93
 /CONTACT: David R. Bouchard or Gregory J. Griffith, both of Great Lakes Chemical Corporation, 317-497-6100/
 (GLK)


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

KK -- CL005 -- 0722 01/29/93 11:38 EST
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