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GREAT LAKES POSTS RECORD FIRST QUARTER RESULTS

 GREAT LAKES POSTS RECORD FIRST QUARTER RESULTS
 WEST LAFAYETTE, Ind., April 16 /PRNewswire/ -- Great Lakes


Chemical Corporation (NYSE: GLK) today reported records for both revenues and earnings for the 1992 first quarter.
 Net income of $53,035,000, or $.75 per share, rose 37.1 percent above the $38,681,000, or $.55 per share, reported in the first quarter of 1991. Revenues for the quarter reached $354,602,000, or a 7.0 percent gain over the $331,309,000 posted in the corresponding period of last year.
 Emerson Kampen, chairman, president and chief executive officer, stated, "We are pleased with the company's performance and ongoing progress, particularly in light of the weak economic conditions existing in most of the world. It appears that the momentum in our business established at the end of the year is building, and we foresee continued improvement for 1992.
 "Clearly, Octel Associates played a significant part in the quarter's success," he went on to say, "and its impact was magnified by our completing the purchase of an additional 36.67 percent share of Octel, previously owned by Shell."
 He also commented on the promising trend in Great Lakes' flame retardant business. "Demand in the United States showed steady growth during the first three months of the year. Much of this progress can be attributed to market development of new applications that touch the worldwide urethanes, thermoplastics and textiles industries.
 "Another key contributor," he added, "was our Bio-Lab, Inc. subsidiary, one of this country's leading suppliers of chemicals and equipment for swimming pools and spas. Sales of swimming pool chemicals offered through the company's early-buy programs ranged ahead of those for the same three-month period one year ago. Additionally, new marketing initiatives currently under way promise to access directly a broader segment of the consumer market, thereby creating greater demand for chemicals and key operating equipment alike."
 Kampen concluded, "We have started another year at a record- setting pace, with quarterly results well ahead of any mark in company history. This accomplishment affirms Great Lakes' fundamental growth strategies. What's more, I'm convinced that as the year unfolds we have the means to accelerate our progress on many fronts, including new fuel additives, high-value specialty chemicals, select acquisitions and strategic alliances."
 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 March 31
 1992 1991 Pct Change
 Revenues
 Net sales $344,494 $319,200 7.9
 Equity in earnings of
 affiliates & other income 10,108 12,109 (16.5)
 Total 354,602 331,309 7.0
 Costs and Expenses
 Cost of products sold 217,363 203,906 6.6
 Selling, administrative &
 research expenses 43,261 44,503 (2.8)
 Interest & other expenses 10,885 7,925 37.4
 Total 271,509 256,334 5.9
 Income Before Taxes and
 Minority Interest 83,093 74,975 10.8
 Minority Interest in Income of
 Subsidiaries 6,058 19,594 (69.1)
 Income Before Taxes 77,035 55,381 39.1
 Income Taxes 24,000 16,700 43.7
 Net Income $53,035 $38,681 37.1
 Net Income per Share $0.75 $0.55 36.4
 Average Shares Outstanding 70,980,238 70,479,592
 -0- 4/16/92
 /CONTACT: Gregory J. Griffith or David R. Bouchard, both of Great Lakes Chemical Corporation, 317-497-6100/
 (GLK) CO: Great Lakes Chemical Corporation ST: Indiana IN: CHM SU: ERN


KK -- CL015 -- 9439 04/16/92 15:41 EDT
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Date:Apr 16, 1992
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