New York, NY (October 16, 2007) -- KPS Capital Partners, LP ("KPS") announced today that it signed a definitive agreement to buy the worldwide metals business of Olin Corporation (NYSE: OLIN), through the operating subsidiary of a newly formed company, Global Brass and Copper Holdings, Inc., for $400 million. The price, which is payable in cash, is subject to a customary working capital adjustment.

The metals business, which generated revenues of $2.1 billion in 2006, includes all of Olin Corporation’s active metals operations, comprised of manufacturing facilities in East Alton, Illinois; Montpelier and Bryan, Ohio; Waterbury, Connecticut; and Cuba, Missouri, joint ventures in Japan and China, as well as the A. J. Oster metals service center business. Global Brass and Copper Holdings, Inc. and it subsidiaries will sell products under the Olin Metals, Olin Brass, and Chase Brass brand names.

The acquisition, which is subject to HSR clearance, is expected to close in the fourth quarter of 2007.