FOR IMMEDIATE RELEASE

Business Inquiries: KPS      212.338.5100

Media Relations: Mark Semer / Joseph Kuo     212.521.4800

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.

About KPS Capital Partners, LP

KPS Capital Partners, LP is the manager of the KPS Special Situations Funds, a family of private equity funds with over $1.8 billion of committed capital focused on constructive investing in restructurings, turnarounds and other special situations. KPS has created new companies to purchase operating assets out of bankruptcy; established stand-alone entities to operate divested assets; and recapitalized highly leveraged public and private companies. The KPS investment strategy targets companies with strong franchises that are experiencing operating and financial problems. KPS invests its capital concurrently with a turnaround plan predicated on cost reduction, capital investment and capital availability. Typically, the KPS turnaround plan is accompanied by a financial restructuring of the company's liabilities. The KPS investment strategy and portfolio companies are described in detail at the firm's website: www.kpsfund.com.