-----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,
 RHWFwFuAgwfIge6HS9kXF+64fZabJSr63UlNUVVLxspZfHWq/3PNwVWzbBHJoie9
 ZjR87eV83BHX864ErQ9vwQ==

<SEC-DOCUMENT>0001181431-03-035118.txt : 20031211
<SEC-HEADER>0001181431-03-035118.hdr.sgml : 20031211
<ACCEPTANCE-DATETIME>20031211134039
ACCESSION NUMBER:		0001181431-03-035118
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20031210
FILED AS OF DATE:		20031211

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			ROMPALA RICHARD M
		CENTRAL INDEX KEY:			0001220620

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-01070
		FILM NUMBER:		031049176

	BUSINESS ADDRESS:	
		STREET 1:		OLIN CORP
		STREET 2:		501 MERRITT 7
		CITY:			NORWALK
		STATE:			CT
		ZIP:			06856
		BUSINESS PHONE:		2037503795

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			OLIN CORP
		CENTRAL INDEX KEY:			0000074303
		STANDARD INDUSTRIAL CLASSIFICATION:	ROLLING DRAWING & EXTRUDING OF NONFERROUS METALS [3350]
		IRS NUMBER:				131872319
		STATE OF INCORPORATION:			VA
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		501 MERRITT 7
		STREET 2:		P O BOX 4500
		CITY:			NORWALK
		STATE:			CT
		ZIP:			06856
		BUSINESS PHONE:		2037503000

	MAIL ADDRESS:	
		STREET 1:		OLIN CORP
		STREET 2:		501 MERRITT 7 PO BOX 4500
		CITY:			NORWALK
		STATE:			CT
		ZIP:			06851

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	OLIN MATHIESON CHEMICAL CORP
		DATE OF NAME CHANGE:	19691008
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd25103.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?><ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType><periodOfReport>2003-12-10</periodOfReport><notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0000074303</issuerCik>
        <issuerName>OLIN CORP</issuerName>
        <issuerTradingSymbol>OLN</issuerTradingSymbol></issuer><reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001220620</rptOwnerCik>
            <rptOwnerName>ROMPALA RICHARD M</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>THE VALSPAR CORPORATION</rptOwnerStreet1>
            <rptOwnerStreet2>1101 SOUTH THIRD STREET</rptOwnerStreet2>
            <rptOwnerCity>MINNEAPOLIS</rptOwnerCity>
            <rptOwnerState>MN</rptOwnerState>
            <rptOwnerZipCode>55415</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
<isDirector>1</isDirector><isOfficer>0</isOfficer><isTenPercentOwner>0</isTenPercentOwner><isOther>0</isOther></reportingOwnerRelationship></reportingOwner><nonDerivativeTable><nonDerivativeHolding><securityTitle><value>Common Stock $1 par value</value></securityTitle><postTransactionAmounts><sharesOwnedFollowingTransaction><value>500</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></nonDerivativeHolding></nonDerivativeTable><derivativeTable><derivativeTransaction><securityTitle><value>Phantom Stock Units</value><footnoteId id="F1"/></securityTitle><conversionOrExercisePrice><footnoteId id="F2"/></conversionOrExercisePrice><transactionDate><value>2003-12-10</value></transactionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>A</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>3
29.013</value></transactionShares><transactionPricePerShare><footnoteId id="F2"/></transactionPricePerShare><transactionAcquiredDisposedCode><value>A</value></transactionAcquiredDisposedCode></transactionAmounts><exerciseDate><footnoteId id="F1"/></exerciseDate><expirationDate><footnoteId id="F1"/></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value></underlyingSecurityTitle><underlyingSecurityShares><value>329.013</value></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>31749.716</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></derivativeTransaction></derivativeTable><footnotes><footnote id="F1">Dividend equivalents credited to the reporting person's account under the 1997 Stock Plan for Non-employee Directors at $19.10  per share as of 12/10/03 in exempt transactions.</footnote><footnote
 id="F2">Security converts to common stock on a one-for-one basis.</footnote></footnotes><ownerSignature><signatureName>/s/ George H. Pain, Attorney-in-Fact</signatureName><signatureDate>2003-12-11</signatureDate></ownerSignature></ownershipDocument>



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</SEC-DOCUMENT>
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