THANKS TO NEW PRODUCT TECHNOLOGY, GREAT LAKES CHEMICAL CORPORATION ANNOUNCES THAT IT WILL CEASE PRODUCTION OF PENTA-PBDE FLAME RETARDANT BY END OF 2004

INDIANAPOLIS, INDIANA—Great Lakes Chemical Corporation (NYSE:GLK), citing years of research, advances in technology and a favorable environmental assessment by the U.S. Environmental Protection Agency (EPA) of what the company calls the “new generation” of flame retardants, today announced that it will voluntarily cease production of two widely-used flame retardant chemicals, penta- and octa- polybrominated diphenyl ether, by the end of 2004. Great Lakes will replace Penta-PBDE with a new product called Firemaster® 550.

The voluntary phase-out of penta and octa follows the EPA’s assessment that the penta replacement has a favorable environmental profile, in that it is not persistent, bioaccumulative or eco-toxic. In addition, tests have shown that Firemaster 550 is highly effective in providing flame retardant protection to foam products like those commonly found in furniture. Firemaster 550 also meets or exceeds the UL-94 (Underwriters Laboratory Flammability Standard) and California Technical Bulletin 117 flame retardancy standards.

“Firemaster 550 is the first in a new generation of environmentally responsive solutions that exceed the highest of standards for fire safety performance,” said Mark Bulriss, CEO of Great Lakes Chemical Corporation. “Years of scientific study have demonstrated that our current range of fire retardant chemicals for foam and plastics is both safe and effective. These products have saved thousands of lives. However, due to the effectiveness of this new product, Great Lakes is in a position to proactively work with customers to transition away from Penta-PBDE in an orderly manner years ahead of schedule.”

Great Lakes has led the effort to develop the next generation of cost-effective, environmentally responsive, fire safety endorsed flame retardants. The EPA’s assessment, combined with exhaustive internal reviews and technological breakthroughs by Great Lakes, made the accelerated phase-out of Penta-PBDE possible.

Firemaster 550 has commercial applications beyond those of the products it will replace. Because of its physical properties, Firemaster 550 can now be used as a flame retardant in foams found in automobile headliners, sneakers, padding commonly used on beds, packaging foams, and insulation and acoustic foams.

Analyst contact:

Jeff Potrzebowksi +1 317 715 3027 / investorinfo@glcc.com

Media contact:

Wendy Chance +1 317 715 3027 / wchance@glcc.com

Reader enquiries

Great Lakes Chemical Corporation
9025 North River Road
Suite 400
Indianapolis
Indiana 46240
U.S.A.

+1 (317) 715-30 00

www.pa.greatlakes.com