Great Lakes realigns financial reporting to reflect industrial, consumer holdings

Great Lakes Chemical Corp., effective Dec. 31, changed its financial reporting segments to reflect the way the company is organized following the realignment of its current management reporting structure. In addition, the company renamed its segments to more clearly reflect the key end markets and customers it serves...

INDIANAPOLIS, Jan. 26, 2005 (PRNewswire-FirstCall) -- Great Lakes Chemical Corp., effective Dec. 31, changed its financial reporting segments to reflect the way the company is organized following the realignment of its current management reporting structure. In addition, the company renamed its segments to more clearly reflect the key end markets and customers it serves.

Previously, Great Lakes segmented its financial results as "Polymer Additives" and "Specialty Products." The renamed reporting structure will continue to include two segments: "Industrial Performance Products" and "Consumer Products." The industrial water additives business, previously reported as a component of Specialty Products, will be reclassified to the Industrial Performance Products segment.

Total net sales, operating income, and income from continuing operations for Great Lakes for the three and nine months ended Sept. 30, 2004 will remain unchanged as a result of this reclassification.

Revised segment results by quarter and full year for the years 2003, 2002, and 2001, respectively, are included with this release. Results for the first three quarters of 2004 are also included. The tables that follow show the net sales and profits of reportable segments under the revised segment format and also on an adjusted basis, which excludes asset impairments, restructuring charges, and certain other significant items.

About Great Lakes Chemical
Great Lakes Chemical Corp. (www.greatlakes.com), based in Indianapolis, Ind., is the world's leading producer of certain specialty chemicals for such applications as water treatment, household cleaners, flame retardants, polymer stabilizers, fire suppressants, and performance products.

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