Report of Independent Registered Public Accounting Firm

To the Plan Administrator and Trustees

Ecolab Savings Plan and ESOP

We have audited the accompanying statements of net assets available for benefits of the Ecolab Savings Plan and ESOP (the Plan) as of December 31, 2010 and 2009, and the related statement of changes in net assets available for benefits for the year ended December 31, 2010. These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with the auditing standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for benefits of the Ecolab Savings Plan and ESOP as of December 31, 2010 and 2009, and the changes in net assets available for benefits for the year ended December 31, 2010, in conformity with accounting principles generally accepted in the United States of America.

Our audits were made for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental schedule of Schedule H, Line 4i — schedule of assets (held at end of year) as of December 31, 2010, is presented for the purpose of additional analysis and is not a required part of the basic financial statements, but is supplementary information required by the United States Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. This supplemental schedule is the responsibility of the Plan’s management. The supplemental schedule has been subjected to the auditing procedures applied in the audit of the basic financial statements and, in our opinion, is fairly stated in all material respects in relation to the basic financial statements taken as a whole.

/s/McGladrey & Pullen, LLP
McGladrey & Pullen, LLP

Minneapolis, Minnesota
June 24, 2011

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ECOLAB SAVINGS PLAN AND ESOP

STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS

December 31, 2010 and 2009

(in thousands)	2010			2009

ASSETS
Investments, at fair value (Notes 2, 3 and 4):
Ecolab Stock Fund	$	504,055		$	488,162
Registered investment companies	447,199			381,215
Common/collective trusts	143,457			112,818
Total investments	1,094,711			982,195
Notes receivable from participants	26,429			24,340
Dividends receivable	1,757			1,686
Employer contributions receivable	871			670
Total assets	1,123,768			1,008,891

LIABILITIES
Accrued distributions and withdrawals	353			466
Net assets reflecting investments, at fair value	1,123,415			1,008,425
Adjustment from fair value to contract value for fully benefit-responsive investment contracts	(622		)	579

NET ASSETS AVAILABLE FOR BENEFITS	$	1,122,793		$	1,009,004

The accompanying notes are an integral

part of the financial statements.

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ECOLAB SAVINGS PLAN AND ESOP

STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS

for the year ended December 31, 2010

(in thousands)	2010

Investment results (Note 2 and 3):
Net appreciation in fair value of investments	$	109,898
Dividends	17,144
Interest	133
	127,175

Interest income on notes receivable from participants	1,171

Contributions:
Participants	49,667
Employer	23,136
	72,803

Deductions:
Distributions to participants	(86,957		)
Plan expenses	(403		)
	(87,360		)

Net increase	113,789

Net assets available for benefits:
Beginning of year	1,009,004

End of year	$	1,122,793

The accompanying notes are an integral

part of the financial statements.

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ECOLAB SAVINGS PLAN AND ESOP

NOTES TO FINANCIAL STATEMENTS

1. Description of Plan:

The following brief description of the Ecolab Savings Plan and ESOP (the “Plan”) is provided for general information purposes only. Participants should refer to the Plan document for more complete information regarding the Plan’s definitions, benefits, eligibility and other matters.

GENERAL AND ELIGIBILITY:

The Plan is a contributory qualified defined contribution plan available to employees of Ecolab Inc. and certain of its subsidiaries (the “Company”). Employees regularly scheduled to work at least 20 hours per week may participate immediately in the Plan provided they are not subject to a collective bargaining agreement which does not provide for their inclusion. Part-time employees working less than 20 hours a week must be employed for a twelve consecutive month period during which they have worked at least 1,000 hours to be eligible to participate. Employee participation in the Plan is voluntary.

The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”) and the Internal Revenue Code of 1986, as amended (the “Code”).

CONTRIBUTIONS:

Contributions are made to the Plan as “before-tax savings contributions” and “employer matching contributions.”

Before-tax savings contributions are contributions made by the Company on behalf of participants who have agreed to have their taxable compensation reduced. Participants may reduce their compensation up to 25% (subject to a statutory annual maximum of $16,500 for 2010) for the purpose of making before-tax savings contributions to the Plan.

Participants who have attained age 50 or above are allowed to make catch-up contributions in accordance with enacted legislation ($5,500 in 2010).

Employer matching contributions are made by the Company in an amount equal to a $1 match for each $1 of participant pre-tax contributions on the first 3% of compensation and $0.50 for each $1 of participant pre-tax contributions on the next 2% of compensation. The Plan also allows additional employer matching contributions to true-up the employer match. This true-up ensures all participants receive their full annualized employer match.

The Plan contains a separate Employee Stock Ownership Plan (“ESOP”) account for employer and participant contributions (except contributions for participants in Puerto Rico) which are invested in the Ecolab Stock Fund. The ESOP allows participants to elect the withdrawal of dividends paid on shares to the ESOP account.

The levels of contributions made by or on behalf of participants who are highly compensated, as defined in the Code, are subject to limitations under the Code.

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ECOLAB SAVINGS PLAN AND ESOP

NOTES TO FINANCIAL STATEMENTS

VESTING:

Participants are fully vested in their account at all times.

PLAN BENEFITS:

As participants are fully vested at all times, benefits to participants are equal to their account balances. Upon retirement, death, disability or separation from service, a distribution may be made to the participant or beneficiary equal to the participant’s account balance. Effective January 1, 2011, employees are able to withdraw any part or all of their account balance upon attainment of age 59 1/2. Loans and in-service withdrawals for hardships are also available. A participant distribution or withdrawal from the Plan generally is subject to federal income tax and may be subject to a penalty, unless rolled over to a qualified plan or individual retirement account.

NOTES RECEIVABLE FROM PARTICIPANTS:

Active participants (and beneficiaries who are parties in interest as defined by ERISA) are permitted to borrow from their accounts. The total amount of a participant’s note may not exceed the lesser of (a) $50,000 minus the participant’s highest outstanding loan balance for the previous twelve-month period, or (b) 50% of the participant’s interest in his or her account. When a note is granted, the appropriate account balances are reduced and a separate loan account is created. Note payments, together with interest at a market rate determined by the Plan Administrator, are repaid generally over 5 years unless the note is for the purchase of a principal residence, in which case the term can be up to 10 years. Notes receivable from participants at December 31, 2010 had interest rates ranging from 3.25% to 10.25% and were due at various dates through October 2023. A participant can have no more than two loans outstanding at any time. Notes receivable from participants are collateralized by the borrower’s account balance and are repaid through ratable payroll deductions.

PARTICIPANT ACCOUNTS AND ALLOCATION:

Fidelity Management Trust Company (“Fidelity”) provides investment management, recordkeeping and trustee services for the Plan directly or indirectly through one or more of its subsidiaries. The trust agreement authorizes services to be performed by the trustee, its agents or affiliates.

Each participant’s account is credited with the participant’s contributions, the employer matching contributions and investment income thereon, net of Plan expenses.

Participants are allowed to allocate their entire account balance in any combination of the available investment options. Participants can transfer their account balance among the investment options and/or change the investment of their future contributions, and earnings thereon daily. These transfers and changes must be made in whole dollar amounts of at least $250 and/or in whole percent increments.

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ECOLAB SAVINGS PLAN AND ESOP

NOTES TO FINANCIAL STATEMENTS

All participant contributions made under the Plan are paid to and invested by Fidelity in one or more of the available investment options as directed by the participants.

PLAN TERMINATION:

Although it has not expressed any intent to do so, the Company has the right under the Plan to discontinue its contributions at any time and to terminate the Plan subject to the provisions of ERISA.

2. Summary of Significant Accounting Policies:

BASIS OF PRESENTATION:

The accompanying financial statements have been prepared on the accrual basis of accounting.

Investment contracts held by a defined contribution plan are required to be reported at fair value. However, contract value is the relevant measurement attribute for that portion of the net assets available for benefits of a defined contribution plan attributable to fully benefit-responsive investment contracts because contract value is the amount participants would receive if they were to initiate permitted transactions under the terms of the Plan. The Plan invests in investment contracts through common/collective trusts. As required, the statement of net assets available for benefits presents the fair value of the investment in the common/collective trusts as well as the adjustment of the investments in the common/collective trusts from fair value to contract value relating to investment contracts. The statement of changes in net assets available for benefits is prepared on a contract value basis.

USE OF ESTIMATES:

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make significant estimates and assumptions that affect the reported amounts of net assets available for benefits and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of changes in net assets available for benefits during the reporting period. Actual results could differ from those estimates.

VALUATION OF INVESTMENTS:

Fidelity holds the Plan’s investment assets and executes transactions therein based upon instructions received from the Plan Administrator, Ecolab Inc., and the participants of the Plan. The Plan’s investments are stated at fair value. Fair value is the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. See Note 4 for discussion of fair value measurements.

NOTES RECEIVABLE FROM PARTICIPANTS:

Notes receivable from participants are measured at their unpaid principal balances plus any accrued interest. Delinquent loans are treated as distributions based upon the term of the plan document.

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ECOLAB SAVINGS PLAN AND ESOP

NOTES TO FINANCIAL STATEMENTS

INCOME RECOGNITION:

Interest income is recorded as earned on an accrual basis and dividend income is recorded on the ex-dividend date. Purchases and sales of securities and realized gains and losses related to sales of investments are recorded on a trade-date basis. Unrealized gains and losses are recorded based on the fair values as of the reporting date.

CONTRIBUTIONS:

Participant before-tax contributions are recorded in the period the employer makes the payroll deductions. Employer matching contributions are recorded based on participant contributions in the same period.

RISKS AND UNCERTAINTIES:

The Plan provides for various investment options in various combinations of investment funds. Investments are exposed to various risks, such as interest rate, market and credit risks. Due to the level of risk associated with certain investment securities, including Ecolab stock, it is at least reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect participants’ account balances and the amounts reported in the 2010 statement of net assets available for benefits.

CONCENTRATION OF MARKET RISK:

At December 31, 2010 and 2009, approximately 45% and 48%, respectively, of the Plan’s net assets were invested in the common stock of the Company. The underlying value of the Ecolab Stock Fund is dependent on the performance of the Company and the market’s evaluation of such performance.

DISTRIBUTIONS TO PARTICIPANTS:

Distributions to participants are recorded when paid.

PLAN EXPENSES:

The Company pays a portion of the administrative expenses of the Plan and a portion is paid by plan participants within the Plan. Certain asset management and administrative fees of the Plan are charged against the Plan’s investment results.

NEW ACCOUNTING PRONOUNCEMENTS:

In January 2010, the Financial Accounting Standards Board (“FASB”) updated the disclosure requirements for fair value measurements. The updated guidance requires plans to disclose separately the investments that transfer in and out of Level 1 and 2 and the reasons for those transfers. Additionally, in the reconciliation for fair value measurements using significant unobservable inputs (Level 3), plans should present separately information about purchases, sales, issuances, and settlements in the Level 3 reconciliation, which is effective for the Plan beginning 2011. As this guidance only requires additional disclosures, the adoption of this guidance is not expected to have a material impact to the Plan’s financial statements. Refer to Note 4 for additional information on Levels 1, 2 and 3.

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ECOLAB SAVINGS PLAN AND ESOP

NOTES TO FINANCIAL STATEMENTS

In September 2010, the FASB issued an amendment regarding how defined contribution pension plans report loans to participants which provides guidance on how loans to participants should be classified and measured by defined contribution pension plans. This amendment requires that participant loans be classified as notes receivable from participants, which are segregated from plan investments and measured at their unpaid principal balance plus any accrued but unpaid interest. This amendment was effective for periods ending after December 15, 2010. This amendment requires retrospective application to all periods presented.

This amendment was adopted by the Plan for the year ended December 31, 2010, and retrospectively applied to December 31, 2009, with no impact to previously reported net assets available for benefits. Prior year amounts and disclosures have been revised to reflect the retrospective application of adopting this new amendment. The adoption resulted in a reclassification of participant loans totaling $26,429,000 and $24,340,000 from investments to notes receivable from participants as of December 31, 2010 and 2009, respectively. Notes from participants have been classified as an investment asset for Form 5500 reporting purposes and, accordingly, have been included as an investment in supplemental Schedule H, Line 4i — Schedule of Assets (Held at End of Year).

SUBSEQUENT EVENTS:

The Plan Administrator has evaluated subsequent events through the date and time the financial statements were issued.

3. Investments:

Investments that represent 5 percent or more of the Plan’s net assets available for benefits at December 31, 2010 and 2009 are summarized as follows:

(in thousands)	2010		2009

Ecolab Inc. Stock	$	501,385	$	485,526

Spartan U.S. Equity Index Fund	83,962		74,947

Dodge & Cox International Stock Fund	69,465		61,613

The Plan’s investments (including gains and losses on investments bought and sold, as well as held during the year) appreciated in value as follows:

(in thousands)	2010

Investment in:

Ecolab Stock Fund	$	61,690

Registered investment companies	37,406

Common/collective trusts	10,802

Net appreciation in fair value of investments	$	109,898

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ECOLAB SAVINGS PLAN AND ESOP

NOTES TO FINANCIAL STATEMENTS

4. Fair Value of Financial Instruments:

Accounting guidance establishes a framework for measuring fair value. That framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurements) and the lowest priority to unobservable inputs (level 3 measurements). The three levels of the fair value hierarchy under accounting guidance are described below:

Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date.

Level 2 - Inputs other than quoted prices within Level 1 that are observable for the asset or liability, either directly or indirectly; and fair value is determined through the use of models or other valuation methodologies. Investments which are generally included in this category include corporate bonds and loans, less liquid and restricted equity securities and certain over-the-counter derivatives. If the asset or liability has a specific (contractual) term, the Level 2 input must be observable for substantially the full term of the asset or liability. A significant adjustment to a Level 2 input could result in the Level 2 measurement becoming a Level 3 measurement.

Level 3 - Inputs are unobservable for the asset or liability and include situations where there is little, if any, market activity for the asset or liability. The inputs into the determination of fair value are based upon the best information in the circumstances and may require significant management judgment or estimation. Investments that are included in this category generally include equity and debt positions in private companies.

The asset’s or liability’s fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Valuation techniques used need to maximize the use of observable inputs and minimize the use of unobservable inputs.

The following is a description of the valuation methodologies used for investments measured at fair value. There have been no changes in the methodologies used at December 31, 2010 and 2009.

Registered investment companies and the Ecolab Stock Fund: Investments in registered investment companies are recorded at the underlying net asset value per unit, which approximates fair value based on the publicly quoted market price of these funds. Investments in the Ecolab stock fund are recorded at the underlying net asset value per unit as determined by the Plan’s trustee, which approximates fair value based on the quoted market price of the Company’s common stock on the New York Stock Exchange.

Common/collective trusts: Investments in common/collective trusts, with the exception of the investment in fully benefit-responsive investment contracts, are recorded at the underlying net asset value per unit, which approximates fair value based on the audited financial statements of these funds. The fair value of fully benefit-responsive investment contracts is

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ECOLAB SAVINGS PLAN AND ESOP

NOTES TO FINANCIAL STATEMENTS

calculated using a discounted cash flow model which considers recent fee bids as determined by recognized dealers, discount rate and the duration of the underlying portfolio securities.

The Plan reviews the fair value hierarchy classification on an annual basis. Changes in the ability to observe valuation inputs may result in a reclassification of levels for certain securities within the fair value hierarchy. The Plan’s policy is to recognize transfers into and out of levels within the fair value hierarchy at the end of the fiscal year in which the actual event or change in circumstances that caused the transfer occurs. There were no transfers between Level 1 and Level 2 during the years ended December 31, 2010 and 2009. When a determination is made to classify an asset or liability within Level 3, the determination is based upon the significance of the unobservable inputs to the overall fair value measurement. The Plan did not have any assets or liabilities classified within Level 3 at December 31, 2010 and 2009.

The methods described above may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while the Plan believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date.

The following tables represent the Plan’s fair value hierarchy for those assets measured at fair value on a recurring basis as of December 31, 2010 and 2009:

	Investment Assets at Fair Value
	As of December 31, 2010
(in thousands)	Total		Level 1		Level 2		Level 3
Ecolab Stock Fund	$	504,055	$	504,055	$	—	$	—
Registered investment companies:
Large cap equity	138,550		138,550		—		—
Fixed income	92,514		92,514		—		—
International equity	69,465		69,465		—		—
Blended fund	44,078		44,078		—		—
Money Market	43,244		43,244		—		—
Small cap equity	37,342		37,342		—		—
Mid cap equity	22,006		22,006		—		—

Common/collective trusts	143,457		—		143,457

Total investment assets at fair value	$	1,094,711	$	951,254	$	143,457	$	—

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ECOLAB SAVINGS PLAN AND ESOP

NOTES TO FINANCIAL STATEMENTS

	Investment Assets at Fair Value
	As of December 31, 2009
(in thousands)	Total		Level 1		Level 2		Level 3
Ecolab Stock Fund	$	488,162	$	488,162	$	—	$	—
Registered investment companies:
Large cap equity	118,115		118,115		—		—
Fixed income	81,479		81,479		—		—
International equity	61,613		61,613		—		—
Money market	43,465		43,465		—		—
Blended fund	35,607		35,607		—		—
Small cap equity	26,154		26,154		—		—
Mid cap equity	14,782		14,782		—		—

Common/collective trusts	112,818		—		112,818		—

Total investment assets at fair value	$	982,195	$	869,377	$	112,818	$	—

The following table sets forth additional disclosures of the Plan’s investments whose fair value is estimated using net asset value per share (“NAV”) per share as of December 31, 2010:

(in thousands)	Fair	Unfunded	Redemption	Redemption
Investment	Value	Commitment	Frequency	Notice Period
Common/collective trusts:
SSgA Target Retirement Funds	90,192	—	Immediate	None

All of the SSgA Target Retirement funds invest in other collective investment funds which have characteristics consistent with the funds’ overall investment objective. Each fund’s investment objective, with the exception of the Income Fund is to allocate its assets across multiple asset classes in a manner that becomes increasingly conservative over time, while seeking to achieve the appropriate level of risk given the participants anticipated retirement date. For the income fund, the objective is to approximate as closely as practicable, the performance of a custom benchmark index over the long term, while providing participants the ability to purchase and redeem units on an “as of” basis.

The fair value of investments in this category has been estimated using the NAV per share of the underlying investments. All of these funds are subject to potential withdrawal safeguards to protect the interest of all participants, while providing the maximum level of liquidity that can be prudently made available to all participants. These withdrawal safeguards permit redemptions resulting from ordinary course activity, subject to certain thresholds. Ordinary course activity also may include periodic participant rebalancing of their investment portfolio between Lending Funds and other State Street Bank collective investment funds. Requests for redemptions above these withdrawal safeguards may result in proceeds consisting of cash, units of other State Street Bank collective investment funds, units of Cash Collateral Funds that will be converted into units of a liquidating trust or a combination thereof. These withdrawal safeguards have been in effect since October 2008 and may be in effect for an indefinite period of time. The Trustee continues to monitor market conditions and evaluate the need for withdrawal safeguards as appropriate.

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ECOLAB SAVINGS PLAN AND ESOP

NOTES TO FINANCIAL STATEMENTS

5. Tax Status:

The Plan constitutes a qualified plan and trust under Section 401(a) of the Code and therefore is exempt from federal income taxes under provisions of Section 501(a). The Plan consists of a profit sharing portion and a stock bonus portion. The stock bonus portion constitutes an employee stock ownership plan within the meaning of Section 4975(e)(7) of the Code. The Plan also complies with the provisions of Section 401(k) of the Code. A tax qualification letter, dated April 14, 2004, was received from the Internal Revenue Service. The letter stated that the Plan, as then designed, was in compliance with the applicable requirements of the Code. The Plan has been amended since receiving the tax qualification letter. However, the Plan Administrator believes the Plan is currently designed and being operated in compliance with the applicable requirements of the Code and therefore believes the Plan is qualified and tax-exempt, as described above. Therefore, no provision for income taxes has been included in the Plan’s financial statements.

A favorable determination letter, dated October 22, 2008, was received from the Puerto Rico Treasury Department. The letter stated that the Plan and the related trust are designed in accordance with Section 1165 (a) of the Puerto Rico Internal Revenue Code of 1994 and are, therefore, exempt from Puerto Rico income taxes. The Plan has been amended since receiving the determination letter. However, the Plan Administrator believes that the Plan is currently designed and being operated in compliance with the applicable requirements of the Puerto Rico Internal Revenue Code. Therefore, no provision for income taxes has been included in the Plan’s financial statements.

6. Related Party and Party-In-Interest Transactions:

The trustee is authorized under contract provisions, or by ERISA regulations providing an administrative or statutory exemption, to invest in funds under its control and in securities of the Company.

Participant contributions and employer matching contributions are invested in one or more of the investment fund options offered under the Plan, including the Ecolab Stock Fund. The Ecolab Stock Fund consists primarily of Ecolab Inc. common stock and also short-term investment funds under the trustee’s control.

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ECOLAB SAVINGS PLAN AND ESOP

NOTES TO FINANCIAL STATEMENTS

7. Reconciliation of Financial Statements to Form 5500:

The following is a reconciliation of net assets available for benefits per the financial statements to the Form 5500:

	December 31,
(in thousands)	2010		2009

Net assets available for benefits per the financial statements	$	1,122,793	$	1,009,004
Adjustment from fair value to contract value for fully benefit-responsive investment contracts	622		(579		)
Net assets available for benefits per the Form 5500	$	1,123,415	$	1,008,425

The following is a reconciliation of the net increase in net assets available for benefits per the financial statements to the Form 5500:

(in thousands)	2010

Net increase in net assets available for benefits per the financial statements	$	113,789
Prior year adjustment from fair value to contract value of fully benefit-responsive investment contracts	579
Current year adjustment from fair value to contract value of fully benefit-responsive investment contracts	622
Total increase in net assets available for benefits per the Form 5500	$	114,990

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ECOLAB SAVINGS PLAN AND ESOP

SCHEDULE H, LINE 4i— SCHEDULE OF ASSETS (HELD AT END OF YEAR)

as of December 31, 2010

EIN 41-0231510

Plan Number: 003

(in thousands, except units)

		(c)
	(b)	Description of Investment,
	Identity of Issue,	Including Maturity Date,	(d)
	Borrower, Lessor	Rate of Interest, Collateral,	Current
(a)	or Similar Party	Par or Maturity Value	Value

Registered investment companies:

*	Spartan 500 Index - Investor Class Fund	Mutual fund 1,887,642 units	$	83,962

	Dodge & Cox International Stock Fund	Mutual fund 1,945,245 units	69,465

	PIMCO Total Return Fund	Mutual fund 4,699,928 units	50,994

*	Fidelity Puritan Fund	Mutual fund 2,461,076 units	44,078

*	Fidelity Money Market Trust Retirement Money	Mutual fund 43,239,284 units	43,239

*	Fidelity Government Income Fund	Mutual fund 3,980,821 units	41,520

	Dodge & Cox Stock Fund	Mutual fund 267,129 units	28,786

	Harbor Capital Appreciation Fund	Mutual fund 702,669 units	25,802

	Invesco Small Cap Value Y Fund	Mutual fund 920,711 units	24,813

*	Spartan Extended Market Index Fund	Mutual fund 576,516 units	22,006

	Hartford Small Co. Fund	Mutual fund 709,469 units	12,529

*	Fidelity Retirement Government Money Market Fund	Mutual fund 4,800 units	5

	Total registered investment companies		447,199

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		(c)
	(b)	Description of Investment,
	Identity of Issue,	Including Maturity Date,	(d)
	Borrower, Lessor	Rate of Interest, Collateral,	Current
(a)	or Similar Party	Par or Maturity Value	Value

Common/collective trusts:

*	Fidelity Managed Income Portfolio II Fund	Common/collective trust 52,642,494 units	53,265

	SSgA Target Retirement 2020 Fund	Common/collective trust 1,613,718 units	20,633

	SSgA Target Retirement 2030 Fund	Common/collective trust 1,395,614 units	17,815

	SSgA Target Retirement 2010 Fund	Common/collective trust 958,759 units	12,175

	SSgA Target Retirement 2015 Fund	Common/collective trust 907,612 units	9,796

	SSgA Target Retirement2040 Fund	Common/collective trust 740,457 units	9,594

	SSgA Target Retirement 2025 Fund	Common/collective trust 791,557 units	8,236

	SSgA Target Retirement 2035 Fund	Common/collective trust 571,302 units	5,742

	SSgA Target Retirement Income Fund	Common/collective trust 263,969 units	3,368

	SSgA Target Retirement 2045 Fund	Common/collective trust 146,137 units	1,477

	SSgA Target Retirement 2050 Fund	Common/collective trust 134,113 units	1,356

	Total common/collective trusts		143,457

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		(c)
	(b)	Description of Investment,
	Identity of Issue,	Including Maturity Date,	(d)
	Borrower, Lessor	Rate of Interest, Collateral,	Current
(a)	or Similar Party	Par or Maturity Value	Value

Ecolab Stock Fund:

*	Ecolab Inc. Stock	Common Stock 9,900,241 shares	501,385

*	Fidelity Money Market Class I	Money Market 2,670,282 units	2,670

	Total Ecolab Stock Fund		504,055

Notes Receivable From Participant:

*	Notes Receivable From Participants	Participant notes due on various dates through October 2023 (stated interest Rates ranging from 3.25% to 10.25%).	26,429
			$	1,121,140

* Party-in-interest

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ECOLAB SAVINGS PLAN AND ESOP

EXHIBITS

The following documents are filed as exhibits to this Report:

Exhibit No.		Document

(23)		Consent of Independent Registered Public Accounting Firm

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.

		ECOLAB SAVINGS PLAN and ESOP


DATE	June 24, 2011	By:/s/Christine Larsen
		Christine Larsen
		Vice President Compensation,
		Benefits, Payroll & HRIS
		Ecolab Inc.
		(Plan Administrator)

		Page(s)

Report of Independent Registered Public Accounting Firm		2

Financial Statements:

Statements of Net Assets Available for Benefits		3

Statement of Changes in Net Assets Available for Benefits		4

Notes to Financial Statements		5 - 14

Supplemental Schedule:
Schedule H, Line 4i - Schedule of Assets (Held at End of Year)		15 - 17