-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 GvYsr48Qz77TmNci/bO1I80oqyKdQXXpuIbr4N1YtO7akGpKInVFy97u6qjoJXN/
 e+ciXi07XAB49sqU7mtInA==

<SEC-DOCUMENT>0001179110-04-011099.txt : 20040521
<SEC-HEADER>0001179110-04-011099.hdr.sgml : 20040521
<ACCEPTANCE-DATETIME>20040521095734
ACCESSION NUMBER:		0001179110-04-011099
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20040521
FILED AS OF DATE:		20040521

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			GALLAGHER JOHN J III
		CENTRAL INDEX KEY:			0001205956

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-06450
		FILM NUMBER:		04822837

	MAIL ADDRESS:	
		STREET 1:		C/O GREAT LAKES CHEMICAL
		STREET 2:		500 E 96TH ST STE 500
		CITY:			INDIANAPOLIS
		STATE:			IN
		ZIP:			46240

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GREAT LAKES CHEMICAL CORP
		CENTRAL INDEX KEY:			0000043362
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS CHEMICAL PRODUCTS [2890]
		IRS NUMBER:				951765035
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		9025 NORTH RIVER RD.
		STREET 2:		SUITE 400
		CITY:			INDIANAPOLIS
		STATE:			IN
		ZIP:			46221
		BUSINESS PHONE:		3177153000

	MAIL ADDRESS:	
		STREET 1:		9025 NORTH RIVER RD.
		STREET 2:		SUITE 400
		CITY:			INDIANAPOLIS
		STATE:			IN
		ZIP:			46240

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GREAT LAKES OIL & CHEMICAL CO
		DATE OF NAME CHANGE:	19700925

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MCCLANAHAN OIL CO
		DATE OF NAME CHANGE:	19700925
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar.xml
<DESCRIPTION>FORM 4 -
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2004-05-21</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000043362</issuerCik>
        <issuerName>GREAT LAKES CHEMICAL CORP</issuerName>
        <issuerTradingSymbol>GLK</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001205956</rptOwnerCik>
            <rptOwnerName>GALLAGHER JOHN J III</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>9025 NORTH RIVER ROAD</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 400</rptOwnerStreet2>
            <rptOwnerCity>INDIANAPOLIS</rptOwnerCity>
            <rptOwnerState>IN</rptOwnerState>
            <rptOwnerZipCode>46240</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Sr. Vice President and CFO</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common</value>
            </securityTitle>
            <transactionDate>
                <value>2004-05-21</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>3000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0.00</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>3000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>807.716</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By 401k Plan</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Restricted Stock Units</value>
                <footnoteId id="F1"/>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>0.00</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2004-05-21</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>3000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0.00</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2004-05-21</value>
            </exerciseDate>
            <expirationDate>
                <value>2011-05-21</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>3000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>12000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Grant to reporting person of restricted stock units under the 1993 Employee Stock Compensation Plan which entitles grantee to receive shares on vesting.  The units vest as follows: 3,000 vest on 5/21/2004; 4,500 vest on 5/21/2008; and 7,500 vest on 5/21/2011.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Karen Witte Duros, Attorney-in-Fact for John J. Gallagher III</signatureName>
        <signatureDate>2004-05-21</signatureDate>
    </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----