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Ecolab Announces Extension of Champion Close Timing



  Ecolab Announces Extension of Champion Close Timing

Business Wire

ST. PAUL, Minn. -- December 21, 2012

Ecolab Inc. announced that it continues to be in active and ongoing
discussions with the Antitrust Division of the U.S. Department of Justice
(DOJ) regarding Ecolab’s filing under the Hart-Scott-Rodino Antitrust
Improvements Act of 1976 (the “HSR Act”) with respect to Ecolab’s previously
announced agreement to acquire Champion Technologies. Further, Ecolab and
Champion have entered into a timing agreement with the DOJ to extend the
waiting period under the HSR Act for the DOJ’s review of the transaction until
February 28, 2013.

Douglas M. Baker, Jr., Ecolab’s Chairman and Chief Executive Officer commented
on the announcement saying, “We have worked hard with the DOJ to resolve the
remaining issues regarding our transaction. Unfortunately, given the short
time remaining in the year, it has become clear we are unlikely to finalize
the work with the DOJ by year-end. We have entered into the timing agreement
and continue to believe that we can successfully come to an agreement with the
DOJ and close in early 2013.”

While Ecolab remains confident that it can address the DOJ’s remaining issues,
it of course remains possible that the transaction will not be completed on
the timing discussed or at all.

With 2011 pro forma sales of $11 billion and more than 40,000 employees,
Ecolab Inc. (NYSE: ECL) is the global leader in water, hygiene and energy
technologies and services that provide and protect clean water, safe food,
abundant energy and healthy environments. Ecolab delivers comprehensive
programs and services to the food, energy, healthcare, industrial and
hospitality markets in more than 160 countries.

Cautionary Statements Regarding Forward-Looking Information

This communication contains statements relating to future events and our
intentions, beliefs, expectations and predictions for the future which are
forward-looking statements as that term is defined in the Private Securities
Litigation Reform Act of 1995. Words or phrases such as “will likely result,”
“are expected to,” “will continue,” “is anticipated,” “we believe,” “we
expect,” “estimate,” “project,” “may,” “will,” “intend,” “plan,” “believe,”
“target,” “forecast” (including the negative or variations thereof) or similar
terminology used in connection with any discussion of future plans, actions or
events generally identify forward-looking statements. These forward-looking
statements include, but are not limited to, resolution of issues raised by the
Department of Justice and the expected completion of the Champion acquisition.
These statements are based on the current expectations of management of the
company. There are a number of risks and uncertainties that could cause actual
results to differ materially from the forward-looking statements included in
these communications. These risks and uncertainties include (i) the risk that
the regulatory approvals or clearances required for the Champion acquisition,
including under the HSR Act, may not be obtained, or that required regulatory
approvals may delay the Champion acquisition or result in the imposition of
conditions that could have a material adverse effect on the company or cause
the company to abandon the Champion acquisition, (ii) the risk that the
conditions to the closing of the Champion Merger may not be satisfied,
(iii) the risk that a material adverse change, event or occurrence may affect
the company or acquired companies prior to the closing of the Champion
acquisition and may delay the Champion acquisition or cause the company to
abandon the Champion acquisition.

Other unknown or unpredictable factors could also have material adverse
effects on future results, performance or achievements of the company, the
acquired companies  and the combined business. For a further discussion of
these and other risks and uncertainties applicable to the company, see the
company’s Annual Report on Form 10-K for the year ended December 31, 2011 and
the company’s subsequent reports filed with the SEC. In light of these risks,
uncertainties, assumptions and factors, the forward-looking events discussed
in this communication may not occur. Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as of the date
of this communication. The company does not undertake, and expressly
disclaims, any duty to update any forward-looking statement whether as a
result of new information, future events, changes in expectations or
otherwise, except as required by law.

(ECL-C)

Contact:

Ecolab Inc.
Investor Contacts:
Michael Monahan
651.293.2809
Or
Lisa Curran
651.293.2185
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