Redmond, Washington - July 30, 2004. Duff & Phelps, LLC served as financial advisor and rendered a fairness opinion to the board of directors of Alcide Corporation (NASDAQ: ALCD) in its merger with Ecolab Incorporated (NYSE: ECL).

The purchase price of $21.00 per common share represents a 31.3 percent premium over the closing price on March 10, 2004, the trading day immediately prior to the announcement date. The aggregate consideration for the outstanding Alcide shares is approximately $57 million (including payments for the settlement of outstanding stock options). Based on an exchange ratio of 0.6744, Ecolab will issue approximately 1,7830,000 shares of Ecolab common stock plus additional cash-in-lieu of fractional shares to the former shareholders of Alcide, in exchange for approximately 2,718,000 shares of Alcide common stock outstanding as of July 30, 2004.

Alcide Corporation, headquartered in Redmond, Washington, develops, researches and markets unique biocidal products based on its patented technology. Alcide currently sells anti-infective products to the animal health market, disinfecting products to the medical industries and SANOVA antimicrobial for controlling food borne pathogens and spoilage microorganisms on poultry, red meat and fruits and vegetables. More information about Alcide can be found at www.alcide.com.

Ecolab, headquartered in St. Paul, Minnesota, is a global developer of cleaning, sanitizing, pest and bacteria elimination, maintenance and repair products and services to the hospitality, institutional, and industrial industries. The Company serves hotels and restaurants, foodservice, healthcare and educational facilities, quick-service (fast food and other convenience store) units, grocery stores, commercial and institutional laundries, light industry, dairy plants and farms, food and beverage processors, pharmaceutical and cosmetics facilities and the vehicle wash industry. More information about Ecolab can be found at www.ecolab.com.

Duff & Phelps, LLC, a Chicago-based investment bank and financial advisory firm, provides independent financial analysis and advice, including fairness opinions, for both public and privately-held companies in transactions involving corporate acquisitions and divestitures, ESOPs, going private transactions, related party transactions, recapitalizations and restructurings, and exchange offers.