GREAT LAKES RECEIVES GERMAN ENVIRONMENT AGENCY APPROVAL FOR PHOSPHORUS-BASED FLUID AND LUBRICANT ADDITIVE

INDIANAPOLIS, Indiana, June 24, 2002 – Great Lakes Chemical Corporation (NYSE:GLK) today announced that its Durad® 310M phosphorus-based specialty additive has been approved by the German Federal Environment Agency (Umweltbundesamt-UBA) for use in rapidly biodegradable hydraulic fluids and lubricants.

Durad® 310M provides both anti-wear and extreme-pressure performance for mineral lubricating oils and synthetic fluids. Durad® 310M is a triaryl phosphate-based additive, free of chlorine and sulfur and is of particular benefit to those formulating products that may be released into the environment. Durad® 310M is used in general industrial applications such as hydraulic, gear, circulatory and metal working oils. Durad® 310M also offers value to automotive oils.

Durad® 310M is believed to be the first phosphorus-based additive approved by the UBA for use in hydraulic fluids and lubricants seeking Germany’s Blue Angel certification. The Blue Angel eco-label was first introduced in Germany in 1978 and is granted to products and services meeting its high environmental and industrial health and safety specifications.

Great Lakes Performance Additives and Fluids offer a complete range of phosphate ester anti-wear additives and fire resistant fluids in addition to an extensive selection of phenolic and aminic antioxidants. For further information on Durad® 310M and the complete range of products, visit the Great Lakes Performance Additives and Fluids web site at www.paf.greatlakes.com

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