----

----

|  For the quarterly period ended  |                                                                                                                   September 30, 2010  |
|--------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  For the transition period from |   |  to |   |
|--------------------------------------|--------|----------|--------|

|  Commission file number |                                                                                                                                 1-14447 |
|------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  AMCOL INTERNATIONAL CORPORATION                   |
|--------------------------------------------------------------|
|  (Exact name of registrant as specified in its charter) |

|  Delaware                                                   |   |  36-0724340         |
|----------------------------------------------------------------------------|--------|-----------------------------------------|
|  (State or other jurisdiction of incorporation or organization)  |   |  (IRS Employer Identification No.) |

|  2870 Forbs Avenue, Hoffman Estates, IL     |   |   60192 |
|------------------------------------------------------------|--------|-------------------|
| (Address of principal executive offices)    |   |  (Zip Code)  |

|  (847) 851-1500                                             |
|------------------------------------------------------------------|
|  (Registrant’s telephone number, including area code) |

----

|  Class                                |   |  Outstanding at October 22, 2010   |
|--------------------------------------------|--------|---------------------------------------------------|
|  (Common stock, $.01 par value)  |   |  31,114,231 Shares                           |

----

|                                 |                                                                    |  Page No. |
|--------------------------------------|-------------------------------------------------------------------------|----------------|
|  Part I - Financial Information |                                                                    |
|                                 |                                                                    |           |
|  Item 1:                        |  Financial Statements                                              |           |
|                                 |  Condensed Consolidated Balance Sheets –                     |           |
|                                 |  September 30, 2010 and December 31, 2009                          |  4        |
|                                 |                                                                    |           |
|                                 |  Condensed Consolidated Statements of Operations –           |           |
|                                 |  three and nine months ended September 30, 2010 and 2009           |  6        |
|                                 |                                                                    |           |
|                                 |  Condensed Consolidated Statements of Comprehensive Income – |           |
|                                 |  three and nine months ended September 30, 2010 and 2009           |  7        |
|                                 |                                                                    |           |
|                                 |  Condensed Consolidated Statements of Changes in Equity –    |           |
|                                 |  three and nine months ended September 30, 2010 and 2009           |  8        |
|                                 |                                                                    |           |
|                                 |  Condensed Consolidated Statements of Cash Flows –           |           |
|                                 |  nine months ended September 30, 2010 and 2009                     |  9        |
|                                 |                                                                    |           |
|                                 |  Notes to Condensed Consolidated Financial Statements              |  10       |
|                                 |                                                                    |           |
|  Item 2:                        |  Management’s Discussion and Analysis of Financial           |           |
|                                 |  Condition and Results of Operations                               |  19       |
|                                 |                                                                    |           |
|  Item 3:                        |  Quantitative and Qualitative Disclosures About Market Risk        |  36       |
|                                 |                                                                    |           |
|  Item 4:                        |  Controls and Procedures                                           |  36       |
|                                 |                                                                    |           |
|  Part II - Other Information    |                                                                    |
|                                 |                                                                    |           |
|  Item 5:                        |  Other Information                                                 |  37       |
|                                 |                                                                    |           |
|  Item 6:                        |  Exhibits                                                          |  38       |

----

O

|                                                         |   | September 30, |    |   | December 31, |   |
|--------------------------------------------------------------|--------|---------------|---------|--------|--------------|--------|
|   ASSETS                                                |   | 2010          |    |   | 2009         |   |
|                                                         |   | (unaudited)   |    |   |  *      |   |
| Current assets:                                              |   |          |    |   |         |   |   |
| Cash and cash equivalents                                    |   | $             | 20,326  |   |         | $      | 27,669 |   |
| Accounts receivable, net                                     |   |          | 201,092 |   |         |   | 148,260 |   |
| Inventories                                                  |   |          | 105,469 |   |         |   | 96,173 |   |
| Prepaid expenses                                             |   |          | 12,938  |   |         |   | 12,509 |   |
| Deferred income taxes                                        |   |          | 7,706   |   |         |   | 6,525 |   |
| Income tax receivable                                        |   |          | 9,158   |   |         |   | 2,431 |   |
| Other                                                        |   |          | 5,979   |   |         |   | 463 |   |
|                                                         |   |          |    |   |         |   |   |   |
| Total current assets                                         |   |          | 362,668 |   |         |   | 294,030 |   |
|                                                         |   |          |    |   |         |   |   |   |
| Noncurrent assets:                                           |   |          |    |   |         |   |   |   |
| Property, plant, equipment, and mineral rights and reserves: |   |          |    |   |         |   |   |   |
| Land and mineral rights                                      |   |          | 60,523  |   |         |   | 57,898 |   |
| Depreciable assets                                           |   |          | 448,494 |   |         |   | 414,617 |   |
|                                                         |   |          |    |   |         |   |   |   |
|                                                         |   |          | 509,017 |   |         |   | 472,515 |   |
| Less: accumulated depreciation and depletion                 |   |          | 253,018 |   |         |   | 236,269 |   |
|                                                         |   |          |    |   |         |   |   |   |
|                                                         |   |          | 255,999 |   |         |   | 236,246 |   |
|                                                         |   |          |    |   |         |   |   |   |
| Goodwill                                                     |   |          | 71,260  |   |         |   | 71,156 |   |
| Intangible assets, net                                       |   |          | 44,370  |   |         |   | 47,185 |   |
| Investment in and advances to affiliates and joint ventures  |   |          | 33,544  |   |         |   | 32,228 |   |
| Available-for-sale securities                                |   |          | 17,917  |   |         |   | 25,563 |   |
| Other assets                                                 |   |          | 27,041  |   |         |   | 27,852 |   |
|                                                         |   |          |    |   |         |   |   |   |
| Total noncurrent assets                                      |   |          | 450,131 |   |         |   | 440,230 |   |
|                                                         |   | $             | 812,799 |   |         | $      | 734,260 |   |
|                                                         |   |          |    |   |         |   |   |   |

----

|                                        |   | September 30, |    |   | December 31, |   |
|---------------------------------------------|--------|---------------|---------|--------|--------------|--------|
|   LIABILITIES AND SHAREHOLDERS' EQUITY |   | 2010          |    |   | 2009         |   |
|                                        |   | (unaudited)   |    |   |         | *      |   |
| Current liabilities:                        |   |          |    |   |         |   |   |
| Accounts payable                            |   | $             | 61,830  |   |         | $      | 40,335 |   |
| Accrued liabilities                         |   |          | 62,029  |   |         |   | 49,981 |   |
|                                        |   |          |    |   |         |   |   |   |
| Total current liabilities                   |   |          | 123,859 |   |         |   | 90,316 |   |
|                                        |   |          |    |   |         |   |   |   |
| Noncurrent liabilities:                     |   |          |    |   |         |   |   |   |
| Long-term debt                              |   |          | 229,690 |   |         |   | 207,017 |   |
| Pension liabilities                         |   |          | 21,420  |   |         |   | 20,403 |   |
| Deferred compensation                       |   |          | 7,980   |   |         |   | 7,544 |   |
| Other long-term liabilities                 |   |          | 19,691  |   |         |   | 29,208 |   |
|                                        |   |          |    |   |         |   |   |   |
| Total noncurrent liabilities                |   |          | 278,781 |   |         |   | 264,172 |   |
|                                        |   |          |    |   |         |   |   |   |
| Equity:                                     |   |          |    |   |         |   |   |   |
| Common stock                                |   |          | 320     |   |         |   | 320 |   |
| Additional paid in capital                  |   |          | 91,666  |   |         |   | 84,830 |   |
| Retained earnings                           |   |          | 298,149 |   |         |   | 275,200 |   |
| Accumulated other comprehensive income      |   |          | 29,378  |   |         |   | 32,174 |   |
|                                        |   |          |    |   |         |   |   |   |
|                                        |   |          | 419,513 |   |         |   | 392,524 |   |
| Treasury stock                              |   |          | (10,608 | )      |         |   | (14,377 | ) |
|                                        |   |          |    |   |         |   |   |   |
| Total AMCOL shareholders' equity            |   |          | 408,905 |   |         |   | 378,147 |   |
|                                        |   |          |    |   |         |   |   |   |
| Noncontrolling interest                     |   |          | 1,254   |   |         |   | 1,625 |   |
|                                        |   |          |    |   |         |   |   |   |
| Total equity                                |   |          | 410,159 |   |         |   | 379,772 |   |
|                                        |   | $             | 812,799 |   |         | $      | 734,260 |   |
|                                        |   |          |    |   |         |   |   |   |

----

S

|                                                             |   | Nine Months Ended |    |   | Three Months Ended |   |
|------------------------------------------------------------------|--------|-------------------|---------|--------|--------------------|--------|
|                                                             |   | September 30,     |    |   | September 30,      |   |
|                                                             |   |              | 2010    |   |               |   | 2009 |   |   |   | 2010 |   |   |   | 2009 |   |
| Net sales                                                        |   | $                 | 629,115 |   |               | $      | 526,539 |   |   | $ | 233,451 |   |   | $ | 190,920 |   |
| Cost of sales                                                    |   |              | 465,304 |   |               |   | 382,320 |   |   |   | 174,962 |   |   |   | 137,069 |   |
| Gross profit                                                     |   |              | 163,811 |   |               |   | 144,219 |   |   |   | 58,489 |   |   |   | 53,851 |   |
| General, selling and administrative expenses                     |   |              | 106,785 |   |               |   | 101,047 |   |   |   | 35,967 |   |   |   | 34,626 |   |
| Operating profit                                                 |   |              | 57,026  |   |               |   | 43,172 |   |   |   | 22,522 |   |   |   | 19,225 |   |
| Other income (expense):                                          |   |              |    |   |               |   |   |   |   |   |   |   |   |   |   |   |
| Interest expense, net                                            |   |              | (7,092  | )      |               |   | (9,399 | ) |   |   | (2,542 | ) |   |   | (2,833 | ) |
| Other, net                                                       |   |              | 2,066   |   |               |   | (2,595 | ) |   |   | 2,183 |   |   |   | 119 |   |
|                                                             |   |              | (5,026  | )      |               |   | (11,994 | ) |   |   | (359 | ) |   |   | (2,714 | ) |
| Income before income taxes and income (loss) from                |   |              |    |   |               |   |   |   |   |   |   |   |   |   |   |   |
| affiliates and joint ventures                                    |   |              | 52,000  |   |               |   | 31,178 |   |   |   | 22,163 |   |   |   | 16,511 |   |
| Income tax expense                                               |   |              | 12,894  |   |               |   | 6,388 |   |   |   | 5,193 |   |   |   | 3,271 |   |
| Income before income (loss) from affiliates and                  |   |              |    |   |               |   |   |   |   |   |   |   |   |   |   |   |
| joint ventures                                                   |   |              | 39,106  |   |               |   | 24,790 |   |   |   | 16,970 |   |   |   | 13,240 |   |
| Income (loss) from affiliates and joint ventures                 |   |              | 266     |   |               |   | (921 | ) |   |   | 337 |   |   |   | 721 |   |
| Net income (loss)                                                |   |              | 39,372  |   |               |   | 23,869 |   |   |   | 17,307 |   |   |   | 13,961 |   |
|                                                             |   |              |    |   |               |   |   |   |   |   |   |   |   |   |   |   |
| Net income (loss) attributable to noncontrolling interests       |   |              | (322    | )      |               |   | 296 |   |   |   | (110 | ) |   |   | 661 |   |
|                                                             |   |              |    |   |               |   |   |   |   |   |   |   |   |   |   |   |
| Net income (loss) attributable to AMCOL shareholders             |   | $                 | 39,694  |   |               | $      | 23,573 |   |   | $ | 17,417 |   |   | $ | 13,300 |   |
|                                                             |   |              |    |   |               |   |   |   |   |   |   |   |   |   |   |   |
| Weighted average common shares outstanding                       |   |              | 31,137  |   |               |   | 30,735 |   |   |   | 31,225 |   |   |   | 30,766 |   |
|                                                             |   |              |    |   |               |   |   |   |   |   |   |   |   |   |   |   |
| Weighted average common and common equivalent shares outstanding |   |              | 31,498  |   |               |   | 30,973 |   |   |   | 31,565 |   |   |   | 31,061 |   |
|                                                             |   |              |    |   |               |   |   |   |   |   |   |   |   |   |   |   |
| Basic earnings per share attributable to AMCOL shareholders      |   | $                 | 1.27    |   |               | $      | 0.77 |   |   | $ | 0.56 |   |   | $ | 0.43 |   |
|                                                             |   |              |    |   |               |   |   |   |   |   |   |   |   |   |   |   |
| Diluted earnings per share attributable to AMCOL shareholders    |   | $                 | 1.26    |   |               | $      | 0.76 |   |   | $ | 0.55 |   |   | $ | 0.43 |   |
|                                                             |   |              |    |   |               |   |   |   |   |   |   |   |   |   |   |   |
| Dividends declared per share                                     |   | $                 | 0.54    |   |               | $      | 0.54 |   |   | $ | 0.18 |   |   | $ | 0.18 |   |

----

T

|                                                                |   | Total             |   |   | AMCOL Shareholders |   |   | Noncontrolling Interest |   |
|---------------------------------------------------------------------|--------|-------------------|--------|--------|--------------------|--------|--------|-------------------------|--------|
|                                                                |   | Nine Months Ended |   |   | Nine Months Ended  |   |   | Nine Months Ended       |   |
|                                                                |   | September 30,     |   |   | September 30,      |   |   | September 30,           |   |
|                                                                |   | 2010              |   |   | 2009               |   |   | 2010                    |   |   | 2009 |   |   | 2010 |   |   | 2009 |   |
| Net income (loss)                                                   |   | $                 | 39,372 |   |               | $      | 23,869 |                    |   | $ | 39,694 |   |   | $ | 23,573 |   |   | $ | (322 | ) |   | $ | 296 |   |
| Other comprehensive income (loss):                                  |   |              |   |   |               |   |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Foreign currency translation adjustment                             |   |              | 5,606  |   |               |   | 12,775 |                    |   |   | 5,655 |   |   |   | 12,389 |   |   |   | (49 | ) |   |   | 386 |   |
| Unrealized gain (loss) on available-for-sale securities, net of tax |   |              | (4,883 | )      |               |   | -      |                    |   |   | (4,883 | ) |   |   | - |   |   |   | - |   |   |   | - |   |
| Unrealized gain (loss) on interest rate swap agreements, net of tax |   |              | (3,662 | )      |               |   | 975    |                    |   |   | (3,662 | ) |   |   | 975 |   |   |   | - |   |   |   | - |   |
| Other, net of tax                                                   |   |              | 94     |   |               |   | 106    |                    |   |   | 94 |   |   |   | 106 |   |   |   | - |   |   |   | - |   |
|                                                                |   |              |   |   |               |   |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Comprehensive income (loss)                                         |   | $                 | 36,527 |   |               | $      | 37,725 |                    |   | $ | 36,898 |   |   | $ | 37,043 |   |   | $ | (371 | ) |   | $ | 682 |   |

|                                                                |   | Total              |   |   | AMCOL Shareholders |   |   | Noncontrolling Interest |   |
|---------------------------------------------------------------------|--------|--------------------|--------|--------|--------------------|--------|--------|------------------------------|--------|
|                                                                |   | Three Months Ended |   |   | Three Months Ended |   |   | Three Months Ended           |   |
|                                                                |   | September 30,      |   |   | September 30,      |   |   | September 30,                |   |
|                                                                |   | 2010               |   |   | 2009               |   |   | 2010                         |   |   | 2009 |   |   |   2010 |   |   |   2009 |   |
| Net income (loss)                                                   |   | $                  | 17,307 |   |               | $      | 13,961 |                         |   | $ | 17,417 |   |   | $ | 13,300 |   |   | $ | (110 | ) |   | $ | 661 |   |
| Other comprehensive income (loss):                                  |   |               |   |   |               |   |   |                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Foreign currency translation adjustment                             |   |               | 18,508 |   |               |   | 8,270  |                         |   |   | 18,493 |   |   |   | 8,181 |   |   |   | 15 |   |   |   | 89 |   |
| Unrealized gain (loss) on available-for-sale securities, net of tax |   |               | (4,215 | )      |               |   | -      |                         |   |   | (4,215 | ) |   |   | - |   |   |   | - |   |   |   | - |   |
| Unrealized gain (loss) on interest rate swap agreements, net of tax |   |               | (1,288 | )      |               |   | (344   | )                            |   |   | (1,288 | ) |   |   | (344 | ) |   |   | - |   |   |   | - |   |
| Other, net of tax                                                   |   |               | 30     |   |               |   | 372    |                         |   |   | 30 |   |   |   | 372 |   |   |   | - |   |   |   | - |   |
|                                                                |   |               |   |   |               |   |   |                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Comprehensive income (loss)                                         |   | $                  | 30,342 |   |               | $      | 22,259 |                         |   | $ | 30,437 |   |   | $ | 21,509 |   |   | $ | (95 | ) |   | $ | 750 |   |

----

A

|                                         |   |         |    |   |   AMCOL Shareholders |   |    |                                          |   |
|----------------------------------------------|--------|--------------|---------|--------|--------------------------------|--------|---------|-----------------------------------------------|--------|
|                                         |   |         |    |   |                           |   |    |                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                         |   | Total Equity |    |   |  Retained Earnings   |   |    | Accumulated Other Comprehensive Income (Loss) |   |   |   Common Stock |   |   |   Treasury Stock |   |   |   Paid-in Capital |   |   |   Noncontrolling Interest |   |
|                                         |   |         |    |   |                           |   |    |                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance at December 31, 2008                 |   | $            | 328,355 |   |                           | $      | 262,453 |                                          |   | $ | (4,721 | ) |   | $ | 320 |   |   | $ | (18,196 | ) |   | $ | 86,350 |   |   | $ | 2,149 |   |
| Net income (loss)                            |   |         | 23,869  |   |                           |   | 23,573  |                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 296 |   |
| Cash dividends                               |   |         | (16,526 | )      |                           |   | (16,526 | )                                             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Purchase of treasury shares                  |   |         | (304    | )      |                           |   |    |                                          |   |   |   |   |   |   |   |   |   |   | (304 | ) |   |   |   |   |   |   |   |   |
| Issuance of treasury shares pursuant to      |   |         |    |   |                           |   |    |                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| employee stock compensation plans            |   |         | 1,342   |   |                           |   |    |                                          |   |   |   |   |   |   |   |   |   |   | 2,548 |   |   |   | (1,206 | ) |   |   |   |   |
| Tax benefit from employee stock              |   |         |    |   |                           |   |    |                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| compensation plans                           |   |         | 551     |   |                           |   |    |                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 551 |   |   |   |   |   |
| Vesting of common stock in connection        |   |         |    |   |                           |   |    |                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| with employee stock compensation             |   |         |    |   |                           |   |    |                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| plans                                        |   |         | 2,127   |   |                           |   |    |                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 2,127 |   |   |   |   |   |
| Purchase of noncontrolling interest's shares |   |         | (5,528  | )      |                           |   |    |                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   | (4,538 | ) |   |   | (990 | ) |
| Other comprehensive income (loss)            |   |         | 13,856  |   |                           |   |    |                                          |   |   | 13,470 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 386 |   |
|                                         |   |         |    |   |                           |   |    |                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance at September 30, 2009                |   |         | 347,742 |   |                           |   | 269,500 |                                          |   |   | 8,749 |   |   |   | 320 |   |   |   | (15,952 | ) |   |   | 83,284 |   |   |   | 1,841 |   |
|                                         |   |         |    |   |                           |   |    |                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance at December 31, 2009                 |   | $            | 379,772 |   |                           | $      | 275,200 |                                          |   | $ | 32,174 |   |   | $ | 320 |   |   | $ | (14,377 | ) |   | $ | 84,830 |   |   | $ | 1,625 |   |
| Net income (loss)                            |   |         | 39,372  |   |                           |   | 39,694  |                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | (322 | ) |
| Cash dividends                               |   |         | (16,745 | )      |                           |   | (16,745 | )                                             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Issuance of treasury shares pursuant to      |   |         |    |   |                           |   |    |                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| employee stock compensation plans            |   |         | 5,099   |   |                           |   |    |                                          |   |   |   |   |   |   |   |   |   |   | 3,769 |   |   |   | 1,330 |   |   |   |   |   |
| Tax benefit from employee stock              |   |         |    |   |                           |   |    |                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| compensation plans                           |   |         | 343     |   |                           |   |    |                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 343 |   |   |   |   |   |
| Vesting of common stock in connection        |   |         |    |   |                           |   |    |                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| with employee stock compensation             |   |         |    |   |                           |   |    |                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| plans                                        |   |         | 2,462   |   |                           |   |    |                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 2,462 |   |   |   |   |   |
| Purchase of noncontrolling interest's shares |   |         | 2,701   |   |                           |   |    |                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 2,701 |   |   |   |   |   |
| Other comprehensive income (loss)            |   |         | (2,845  | )      |                           |   |    |                                          |   |   | (2,796 | ) |   |   |   |   |   |   |   |   |   |   |   |   |   |   | (49 | ) |
|                                         |   |         |    |   |                           |   |    |                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance at September 30, 2010                |   |         | 410,159 |   |                           |   | 298,149 |                                          |   |   | 29,378 |   |   |   | 320 |   |   |   | (10,608 | ) |   |   | 91,666 |   |   |   | 1,254 |   |

----

T

|                                                               |   |   Nine Months Ended |    |
|--------------------------------------------------------------------|--------|--------------------------|---------|
|                                                               |   |   September 30,     |    |
|                                                               |   |  2010               |    |   |   2009 |   |
| Cash flow from operating activities:                               |   |                     |    |   |   |   |
| Net income                                                         |   | $                        | 39,372  |   |   | $ | 23,869 |   |
| Adjustments to reconcile from net income (loss) to net cash        |   |                     |    |   |   |   |   |   |
| provided by (used in) operating activities:                        |   |                     |    |   |   |   |   |   |
| Depreciation, depletion, and amortization                          |   |                     | 26,470  |   |   |   | 26,781 |   |
| Other non-cash charges                                             |   |                     | 3,174   |   |   |   | 9,023 |   |
| Changes in assets and liabilities, net of effects of acquisitions: |   |                     |    |   |   |   |   |   |
| Decrease (increase) in current assets                              |   |                     | (69,385 | ) |   |   | 35,096 |   |
| Decrease (increase) in noncurrent assets                           |   |                     | (2,298  | ) |   |   | (1,257 | ) |
| Increase (decrease) in current liabilities                         |   |                     | 34,832  |   |   |   | (7,480 | ) |
| Increase  (decrease) in noncurrent liabilities           |   |                     | 2,999   |   |   |   | 4,586 |   |
| Net cash provided by (used in) operating activities                |   |                     | 35,164  |   |   |   | 90,618 |   |
| Cash flow from investing activities:                               |   |                     |    |   |   |   |   |   |
| Capital expenditures                                               |   |                     | (37,944 | ) |   |   | (39,637 | ) |
| Capital expenditures - corporate building                          |   |                     | -       |   |   |   | (9,651 | ) |
| Proceeds from sale of depreciable assets - corporate building      |   |                     | -       |   |   |   | 9,651 |   |
| Receipts from Chrome Corp                                          |   |                     | -       |   |   |   | 6,000 |   |
| Investments in and advances to affiliates and joint ventures       |   |                     | (2,047  | ) |   |   | (2,647 | ) |
| Other                                                              |   |                     | 1,210   |   |   |   | 2,384 |   |
| Net cash used in investing activities                              |   |                     | (38,781 | ) |   |   | (33,900 | ) |
| Cash flow from financing activities:                               |   |                     |    |   |   |   |   |   |
| Net change in outstanding debt                                     |   |                     | 21,004  |   |   |   | (42,467 | ) |
| Purchase of noncontrolling interest                                |   |                     | (11,873 | ) |   |   | - |   |
| Proceeds from sales of treasury stock                              |   |                     | 3,252   |   |   |   | 1,005 |   |
| Purchases of treasury stock                                        |   |                     | -       |   |   |   | (165 | ) |
| Dividends                                                          |   |                     | (16,745 | ) |   |   | (16,526 | ) |
| Excess tax benefits from stock-based compensation                  |   |                     | 394     |   |   |   | 464 |   |
|                                                               |   |                     |    |   |   |   |   |   |
| Net cash provided by (used in) financing activities                |   |                     | (3,968  | ) |   |   | (57,689 | ) |
| Effect of foreign currency rate changes on cash                    |   |                     | 242     |   |   |   | 897 |   |
| Net increase (decrease) in cash and cash equivalents               |   |                     | (7,343  | ) |   |   | (74 | ) |
| Cash and cash equivalents at beginning of period                   |   |                     | 27,669  |   |   |   | 19,441 |   |
| Cash and cash equivalents at end of period                         |   | $                        | 20,326  |   |   | $ | 19,367 |   |

----

O

|                   |   |  NineMonths Ended |
|------------------------|--------|------------------------|
|                   |   |  September 30,    |
|                   |   |   2010            |   2009 |
| Minerals and materials |   | 50%                    | 46% |
| Environmental          |   | 28%                    | 31% |
| Oilfield services      |   | 18%                    | 18% |
| Transportation         |   | 6%                     | 7% |
| Intersegment shipping  |   | -2%                    | -2% |
|                   |   | 100%                   | 100% |

----

----

|                                                                                                                         |   | Nine Months Ended |       |   | Three Months Ended |   |
|------------------------------------------------------------------------------------------------------------------------------|--------|-------------------|------------|--------|--------------------|--------|
|                                                                                                                         |   | September 30,     |       |   | September 30,      |   |
|                                                                                                                         |   | 2010              |       |   | 2009               |   |   | 2010 |   |   | 2009 |   |
| Weighted average number of common shares outstanding                                                                         |   |              | 31,136,740 |   |               |   | 30,734,996 |   |   |   | 31,225,430 |   |   |   | 30,765,700 |   |
| Dilutive impact of stock based compensation                                                                                  |   |              | 361,286    |   |               |   | 238,091 |   |   |   | 339,698 |   |   |   | 295,740 |   |
| Weighted average number of common and common equivalent                                                                      |   |              |       |   |               |   |   |   |   |   |   |   |   |   |   |   |
|   shares outstanding for the period                                                                                |   |              | 31,498,026 |   |               |   | 30,973,087 |   |   |   | 31,565,128 |   |   |   | 31,061,440 |   |
| Number of common shares outstanding at the end of the period                                                                 |   |              | 31,100,692 |   |               |   | 30,637,887 |   |   |   | 31,100,692 |   |   |   | 30,637,887 |   |
|                                                                                                                         |   |              |       |   |               |   |   |   |   |   |   |   |   |   |   |   |
| Weighted average number of anti-dilutive shares excluded from   the computation of diluted earnings per share |   |              | 570,259    |   |               |   | 1,442,016 |   |   |   | 511,792 |   |   |   | 936,612 |   |

|                                                    |   | September 30, |    |   |  December 31, |   |
|---------------------------------------------------------|--------|---------------|---------|--------|--------------------|--------|
|                                                    |   | 2010          |    |   | 2009               |   |
| Crude stockpile inventories                             |   | $             | 34,663  |   |               | $      | 30,510 |   |
| In-process and finished goods inventories               |   |          | 44,779  |   |               |   | 40,368 |   |
| Other raw material, container, and supplies inventories |   |          | 26,027  |   |               |   | 25,295 |   |
|                                                    |   | $             | 105,469 |   |               | $      | 96,173 |   |

|                                       |   | Nine Months Ended |   |
|--------------------------------------------|--------|-------------------|--------|
|                                       |   | September 30,     |   |
|                                       |   | 2010              |   |   | 2009 |   |
| Balance at beginning of period             |   | $                 | 6,584  |   |   | $ | 5,649 |   |
| Settlement of obligations                  |   |              | (1,182 | ) |   |   | (930 | ) |
| Liabilities incurred and accretion expense |   |              | 1,813  |   |   |   | 1,342 |   |
| Acquisition of mining claims               |   |              | -      |   |   |   | 474 |   |
| Foreign currency                           |   |              | 56     |   |   |   | 174 |   |
|                                       |   |              |   |   |   |   |   |   |
| Balance at end of period                   |   | $                 | 7,271  |   |   | $ | 6,709 |   |

----

|                     |   | Nine Months Ended   |    |   | Three Months Ended  |   |
|--------------------------|--------|---------------------|---------|--------|---------------------|--------|
|                     |   | September 30,       |    |   | September 30,       |   |
|                     |   | 2010                |    |   | 2009                |   |   | 2010 |   |   | 2009 |   |
| Net sales:               |   |                |    |   |                |   |   |   |   |   |   |   |
| Minerals and materials   |   | $                   | 314,417 |   |                | $      | 244,657 |   |   | $ | 110,332 |   |   | $ | 89,021 |   |
| Environmental            |   |                | 175,707 |   |                |   | 164,096 |   |   |   | 72,373 |   |   |   | 64,493 |   |
| Oilfield services        |   |                | 111,052 |   |                |   | 93,140 |   |   |   | 41,204 |   |   |   | 29,109 |   |
| Transportation           |   |                | 39,987  |   |                |   | 35,336 |   |   |   | 14,284 |   |   |   | 12,487 |   |
| Intersegment shipping    |   |                | (12,048 | )      |                |   | (10,690 | ) |   |   | (4,742 | ) |   |   | (4,190 | ) |
| Total                    |   | $                   | 629,115 |   |                | $      | 526,539 |   |   | $ | 233,451 |   |   | $ | 190,920 |   |
|                     |   |                |    |   |                |   |   |   |   |   |   |   |   |   |   |   |
| Operating profit (loss): |   |                |    |   |                |   |   |   |   |   |   |   |   |   |   |   |
| Minerals and materials   |   | $                   | 42,973  |   |                | $      | 23,863 |   |   | $ | 12,341 |   |   | $ | 10,472 |   |
| Environmental            |   |                | 16,348  |   |                |   | 21,603 |   |   |   | 8,551 |   |   |   | 10,755 |   |
| Oilfield services        |   |                | 9,860   |   |                |   | 12,463 |   |   |   | 4,079 |   |   |   | 3,096 |   |
| Transportation           |   |                | 1,964   |   |                |   | 1,683 |   |   |   | 754 |   |   |   | 693 |   |
| Corporate                |   |                | (14,119 | )      |                |   | (16,440 | ) |   |   | (3,203 | ) |   |   | (5,791 | ) |
| Total                    |   | $                   | 57,026  |   |                | $      | 43,172 |   |   | $ | 22,522 |   |   | $ | 19,225 |   |
|                     |   |                |    |   |                |   |   |   |   |   |   |   |   |   |   |   |
|                     |   | As of Sep. 30, 2010 |    |   | As of Dec. 31, 2009 |   |   |   |   |   |   |   |   |   |
| Assets:                  |   |                |    |   |                |   |   |   |   |   |   |   |   |   |   |   |
| Minerals and materials   |   | $                   | 416,316 |   |                | $      | 384,896 |   |   |   |   |   |   |   |   |   |
| Environmental            |   |                | 168,344 |   |                |   | 151,265 |   |   |   |   |   |   |   |   |   |
| Oilfield services        |   |                | 165,125 |   |                |   | 145,981 |   |   |   |   |   |   |   |   |   |
| Transportation           |   |                | 3,976   |   |                |   | 3,552 |   |   |   |   |   |   |   |   |   |
| Corporate                |   |                | 59,038  |   |                |   | 48,566 |   |   |   |   |   |   |   |   |   |
| Total                    |   | $                   | 812,799 |   |                | $      | 734,260 |   |   |   |   |   |   |   |   |   |

----

|                                       |   | Nine Months Ended |   |   | Three Months Ended |   |
|--------------------------------------------|--------|-------------------|--------|--------|--------------------|--------|
|                                       |   | September 30,     |   |   | September 30,      |   |
|                                       |   | 2010              |   |   | 2009               |   |   | 2010 |   |   | 2009 |   |
| Depreciation, depletion and amortization:  |   |              |   |   |               |   |   |   |   |   |   |   |
| Minerals and materials                     |   | $                 | 12,316 |   |               | $      | 12,030 |   |   | $ | 4,544 |   |   | $ | 3,917 |   |
| Environmental                              |   |              | 4,017  |   |               |   | 4,607 |   |   |   | 1,438 |   |   |   | 1,604 |   |
| Oilfield services                          |   |              | 8,807  |   |               |   | 8,815 |   |   |   | 3,028 |   |   |   | 2,928 |   |
| Transportation                             |   |              | 31     |   |               |   | 30 |   |   |   | 11 |   |   |   | 9 |   |
| Corporate                                  |   |              | 1,299  |   |               |   | 1,299 |   |   |   | 427 |   |   |   | 448 |   |
| Total                                      |   | $                 | 26,470 |   |               | $      | 26,781 |   |   | $ | 9,448 |   |   | $ | 8,906 |   |
|                                       |   |              |   |   |               |   |   |   |   |   |   |   |   |   |   |   |
| Capital expenditures:                      |   |              |   |   |               |   |   |   |   |   |   |   |   |   |   |   |
| Minerals and materials                     |   | $                 | 24,367 |   |               | $      | 27,473 |   |   | $ | 5,297 |   |   | $ | 3,826 |   |
| Environmental                              |   |              | 2,051  |   |               |   | 1,684 |   |   |   | 1,096 |   |   |   | 589 |   |
| Oilfield services                          |   |              | 10,264 |   |               |   | 8,924 |   |   |   | 5,358 |   |   |   | 2,459 |   |
| Transportation                             |   |              | 52     |   |               |   | 27 |   |   |   | 14 |   |   |   | 27 |   |
| Corporate                                  |   |              | 1,210  |   |               |   | 11,180 |   |   |   | 240 |   |   |   | 3,541 |   |
| Total                                      |   | $                 | 37,944 |   |               | $      | 49,288 |   |   | $ | 12,005 |   |   | $ | 10,442 |   |
|                                       |   |              |   |   |               |   |   |   |   |   |   |   |   |   |   |   |
| Research and development (income) expense: |   |              |   |   |               |   |   |   |   |   |   |   |   |   |   |   |
| Minerals and materials                     |   | $                 | 4,331  |   |               | $      | 3,976 |   |   | $ | 1,572 |   |   | $ | 1,278 |   |
| Environmental                              |   |              | 1,870  |   |               |   | 1,716 |   |   |   | 596 |   |   |   | 643 |   |
| Oilfield services                          |   |              | 510    |   |               |   | 503 |   |   |   | 188 |   |   |   | 168 |   |
| Corporate                                  |   |              | (11    | )      |               |   | 155 |   |   |   | (51 | ) |   |   | 28 |   |
| Total                                      |   | $                 | 6,700  |   |               | $      | 6,350 |   |   | $ | 2,305 |   |   | $ | 2,117 |   |

|                                   |   | Nine Months Ended |   |   | Three Months Ended |   |
|----------------------------------------|--------|-------------------|--------|--------|--------------------|--------|
|                                   |   | September 30,     |   |   | September 30,      |   |
|                                   |   | 2010              |   |   | 2009               |   |   | 2010 |   |   | 2009 |   |
| Service cost                           |   | $                 | 1,050  |   |               | $      | 1,235 |   |   | $ | 350 |   |   | $ | 411 |   |
| Interest cost                          |   |              | 1,869  |   |               |   | 1,954 |   |   |   | 623 |   |   |   | 651 |   |
| Expected return on plan assets         |   |              | (1,962 | )      |               |   | (1,609 | ) |   |   | (654 | ) |   |   | (536 | ) |
| Amortization of acturial (gain) / loss |   |              | -      |   |               |   | 320 |   |   |   | - |   |   |   | 107 |   |
| Amortization of prior service cost     |   |              | 48     |   |               |   | 47 |   |   |   | 16 |   |   |   | 16 |   |
|                                   |   |              |   |   |               |   |   |   |   |   |   |   |   |   |   |   |
| Net periodic benefit cost              |   | $                 | 1,005  |   |               | $      | 1,947 |   |   | $ | 335 |   |   | $ | 649 |   |

----

|  Liability Derivatives                    |                          |   Fair Value as of                                                                                                                                            |
|------------------------------------------------|-------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                           |   Balance Sheet Location | September 30, 2010                                                                                                                                                 |   December 31, 2009 |
|                                           |                          |                                                                                                                                                               |   |
| Derivatives designated as hedging instruments: |                          |                                                                                                                                                               |   |
|                                           |                          |                                                                                                                                                               |   |
| Interest rate swaps                            | Other long-term liabilities   |  $                         8,834 |  $                 3,082 |

|                                                 |   |   Amount of Gain or (Loss) Recognized in Other Comprehensive Income on Derivatives |
|------------------------------------------------------|--------|-----------------------------------------------------------------------------------------|
|  Derivatives in Cash Flow Hedging Relationships |   |   (Effective Portion)                                                              |
|                                                 |   |   Nine Months Ended September 30,                                                  |   |   |   Three Months Ended September 30, |
|                                                 |   |   2010                                                                             |   |   |   2009 |   |   |   2010 |   |   |   2009 |
|                                                 |   |                                                                                    |   |   |   |   |   |   |   |   |   |
| Interest rate swaps, net of tax                      |   |  $           (3,662)        |   |   |  $      975 |   |   |  $     (1,288) |   |   |  $              (344) |

----

|                                              |  Location of Gain or (Loss)          |   | Amount of Gain or (Loss) Recognized in Income on Derivatives |   |
|---------------------------------------------------|-------------------------------------------|--------|--------------------------------------------------------------|--------|
| Derivatives Not Designated as Hedging Instruments |    Recognized in Income on |   | Nine Months Ended September 30,                              |   |   | Three Months Ended September 30, |   |
|                                              |   Derivatives                   |   | 2010                                                         |   |   | 2009 |   |   | 2010 |   |   | 2009 |   |
|                                              |                                      |   |                                                         |   |   |   |   |   |   |   |   |   |   |
| Foreign currency exchange contracts               | Other, net                                |   | $                                                            | (347   | ) |   | $ | (4,709 | ) |   | $ | (158 | ) |   | $ | 83 |   |

----

|                              |   |       |   |   | Fair Value Measurements Using                        |   |
|-----------------------------------|--------|------------|--------|--------|------------------------------------------------------|--------|
|   Description                |   | Balance at |   |   | Quoted Prices in Active Markets for Identical Assets |   |   | Significant Other Observable Inputs |   |   | Significant Unobservable Inputs |   |
|                              |   | 9/30/2010  |   |   | (Level 1)                                            |   |   | (Level 2) |   |   | (Level 3) |   |
|                              |   |       |   |   |                                                 |   |   |   |   |   |   |   |
| Interest rate swaps               |   | $          | 8,834  |   |                                                 | $      | - |   |   | $ | 8,834 |   |   | $ | - |   |
|                              |   |       |   |   |                                                 |   |   |   |   |   |   |   |   |   |   |   |
| Available-for-sale securities     |   |       | 17,917 |   |                                                 |   | 17,917 |   |   |   | - |   |   |   | - |   |
|                              |   |       |   |   |                                                 |   |   |   |   |   |   |   |   |   |   |   |
| Deferred compensation plan assets |   |       | 7,533  |   |                                                 |   | - |   |   |   | 7,533 |   |   |   | - |   |
|                              |   |       |   |   |                                                 |   |   |   |   |   |   |   |   |   |   |   |
| Supplementary pension plan assets |   |       | 6,773  |   |                                                 |   | - |   |   |   | 6,773 |   |   |   | - |   |

|                              |   |       |   |   | Fair Value Measurements Using                        |   |
|-----------------------------------|--------|------------|--------|--------|------------------------------------------------------|--------|
|   Description                |   | Balance at |   |   | Quoted Prices in Active Markets for Identical Assets |   |   | Significant Other Observable Inputs |   |   | Significant Unobservable Inputs |   |
|                              |   | 12/31/2009 |   |   | (Level 1)                                            |   |   | (Level 2) |   |   | (Level 3) |   |
|                              |   |       |   |   |                                                 |   |   |   |   |   |   |   |
| Interest rate swaps               |   | $          | 3,082  |   |                                                 | $      | - |   |   | $ | 3,082 |   |   | $ | - |   |
|                              |   |       |   |   |                                                 |   |   |   |   |   |   |   |   |   |   |   |
| Available-for-sale securities     |   |       | 25,563 |   |                                                 |   | 25,563 |   |   |   | - |   |   |   | - |   |
|                              |   |       |   |   |                                                 |   |   |   |   |   |   |   |   |   |   |   |
| Deferred compensation plan assets |   |       | 7,285  |   |                                                 |   | - |   |   |   | 7,285 |   |   |   | - |   |
|                              |   |       |   |   |                                                 |   |   |   |   |   |   |   |   |   |   |   |
| Supplementary pension plan assets |   |       | 5,885  |   |                                                 |   | - |   |   |   | 5,885 |   |   |   | - |   |

----

----

ul

----

| ·   | Organic growth:  The central component of our growth strategy is expansion of our product lines and market presence.  We have a history of commitment to research and development activities directed at bringing innovative products to market.  We believe this approach to growth offers the best probability of achieving our long-term goals at the lowest risk. |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Globalization:  As we have done for decades, we continue to expand our manufacturing and marketing organizations into emerging geographic markets.  We see significant opportunities in the Asia-Pacific and Eastern European regions for expanding our revenues and earnings over the long-term as a number of markets we serve, such as metalcasting, contracting services, and lining technologies, are expected to grow in these areas.  We expect to take advantage of these growth areas, either through our wholly-owned subsidiaries or investments in affiliates and joint ventures. |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| ·   | Mineral development: Bentonite is a component in a majority of the products we supply.  Since it is a natural material, we must continually expand our reserve base to maintain a long-term business.  Our goal is to add new reserves to replace the bentonite mined each year.  Furthermore, we need to assure that new reserves meet the physical property requirements for our diverse product lines and are economical to mine.  Our organization is committed to developing its global reserve base to meet these requirements. |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Acquisitions: We continually seek to acquire complementary businesses, as appropriate, when we believe those businesses are fairly valued and fit into our growth strategy.  However, the global economic and credit crisis that existed as we began fiscal 2010 continues to make it more challenging for us to do this than in periods prior to the crisis. |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                                                                            |   | Three Months Ended September 30,                 |    |
|---------------------------------------------------------------------------------|--------|--------------------------------------------------|---------|
|  Consolidated                                                              |   | 2010                                             |    |   | 2009 |   |   | 2010 vs. 2009 |   |
|                                                                            |   | (Dollars in Thousands, Except Per Share Amounts) |    |
|                                                                            |   |                                             |    |   |   |   |   |   |   |
| Net sales                                                                       |   | $                                                | 233,451 |   |   | $ | 190,920 |   |   |   | 22.3 | % |
| Cost of sales                                                                   |   |                                             | 174,962 |   |   |   | 137,069 |   |   |   |   |   |
| Gross profit                                                                    |   |                                             | 58,489  |   |   |   | 53,851 |   |   |   | 8.6 | % |
| margin %                                                                        |   |                                             | 25.1    | % |   |   | 28.2 | % |   |   |   |   |
| General, selling and                                                            |   |                                             |    |   |   |   |   |   |   |   |   |   |
| administrative expenses                                                         |   |                                             | 35,967  |   |   |   | 34,626 |   |   |   | 3.9 | % |
| Operating profit                                                                |   |                                             | 22,522  |   |   |   | 19,225 |   |   |   | 17.1 | % |
| margin %                                                                        |   |                                             | 9.6     | % |   |   | 10.1 | % |   |   |   |   |
| Other income (expense):                                                         |   |                                             |    |   |   |   |   |   |   |   |   |   |
| Interest expense, net                                                           |   |                                             | (2,542  | ) |   |   | (2,833 | ) |   |   | -10.3 | % |
| Other, net                                                                      |   |                                             | 2,183   |   |   |   | 119 |   |   |   | 1734.5 | % |
|                                                                            |   |                                             | (359    | ) |   |   | (2,714 | ) |   |   |   |   |
|                                                                            |   |                                             |    |   |   |   |   |   |   |   |   |   |
| Income before income taxes and income (loss) from affiliates and joint ventures |   |                                             | 22,163  |   |   |   | 16,511 |   |   |   |   |   |
| Income tax expense                                                              |   |                                             | 5,193   |   |   |   | 3,271 |   |   |   | 58.8 | % |
| effective tax rate                                                              |   |                                             | 23.4    | % |   |   | 19.8 | % |   |   |   |   |
|                                                                            |   |                                             |    |   |   |   |   |   |   |   |   |   |
| Income before income (loss) from affiliates and joint ventures                  |   |                                             | 16,970  |   |   |   | 13,240 |   |   |   |   |   |
| Income (loss) from affiliates and joint ventures                                |   |                                             | 337     |   |   |   | 721 |   |   |   | -53.3 | % |
|                                                                            |   |                                             |    |   |   |   |   |   |   |   |   |   |
| Net income (loss)                                                               |   |                                             | 17,307  |   |   |   | 13,961 |   |   |   |   |   |
|                                                                            |   |                                             |    |   |   |   |   |   |   |   |   |   |
| Net income (loss) attributable to noncontrolling interests                      |   |                                             | (110    | ) |   |   | 661 |   |   |   | -116.6 | % |
|                                                                            |   |                                             |    |   |   |   |   |   |   |   |   |   |
| Net income (loss) attributable to AMCOL shareholders                            |   | $                                                | 17,417  |   |   | $ | 13,300 |   |   |   | 31.0 | % |
|                                                                            |   |                                             |    |   |   |   |   |   |   |   |   |   |
| Basic earnings per share attributable to AMCOL shareholders                     |   | $                                                | 0.56    |   |   | $ | 0.43 |   |   |   | 30.2 | % |
|                                                                            |   |                                             |    |   |   |   |   |   |   |   |   |   |
| Diluted earnings per share attributable to AMCOL shareholders                   |   | $                                                | 0.55    |   |   | $ | 0.43 |   |   |   | 27.9 | % |

----

|                                       |   | Organic  |   |   | Acquisitions  |   |   | Foreign Exchange  |   |   | Total  |   |
|--------------------------------------------|--------|---------------|--------|--------|--------------------|--------|--------|------------------------|--------|--------|-------------|--------|
| Minerals and materials                     |   |          | 11.0   | %      |               |   | 0.0    | %                      |   |   | 0.2         | %      |   |   | 11.2 | % |
| Environmental                              |   |          | 4.3    | %      |               |   | 0.2    | %                      |   |   | -0.4        | %      |   |   | 4.1 | % |
| Oilfield services                          |   |          | 5.9    | %      |               |   | 0.0    | %                      |   |   | 0.4         | %      |   |   | 6.3 | % |
| Transportation & intersegment shipping |   |          | 0.7    | %      |               |   | 0.0    | %                      |   |   | 0.0         | %      |   |   | 0.7 | % |
| Total                                      |   |          | 21.9   | %      |               |   | 0.2    | %                      |   |   | 0.2         | %      |   |   | 22.3 | % |
| % of change                                |   |          | 97.8   | %      |               |   | 0.9    | %                      |   |   | 1.3         | %      |   |   | 100.0 | % |

|                                      |   | Americas  |   |   | EMEA  |   |   | Asia Pacific  |   |   | Total  |   |
|-------------------------------------------|--------|----------------|--------|--------|------------|--------|--------|--------------------|--------|--------|-------------|--------|
| Minerals and materials                    |   |           | 29.6   | %      |       |   | 8.1    | %                  |   |   | 9.6         | %      |   |   | 47.3 | % |
| Environmental                             |   |           | 14.9   | %      |       |   | 13.7   | %                  |   |   | 2.4         | %      |   |   | 31.0 | % |
| Oilfield services                         |   |           | 14.2   | %      |       |   | 0.6    | %                  |   |   | 2.8         | %      |   |   | 17.6 | % |
| Transportation                            |   |           | 4.1    | %      |       |   | 0.0    | %                  |   |   | 0.0         | %      |   |   | 4.1 | % |
|                                      |   |           |   |   |       |   |   |               |   |   |        |   |   |   |   |   |
| Total - current year's period             |   |           | 62.8   | %      |       |   | 22.4   | %                  |   |   | 14.8        | %      |   |   | 100.0 | % |
| Total from prior year's comparable period |   |           | 64.0   | %      |       |   | 25.1   | %                  |   |   | 10.9        | %      |   |   | 100.0 | % |

----

----

|                          |   |  Three Months Ended September 30, |    |
|-------------------------------|--------|----------------------------------------|---------|
|   Minerals and Materials |   | 2010                                   |    |   | 2009 |   |   | 2010 vs. 2009 |   |
|                          |   |  (Dollars in Thousands)           |    |
| Net sales                     |   | $                                      | 110,332 |   |   |   | 100.0 | % |   | $ | 89,021 |   |   |   | 100.0 | % |   | $ | 21,311 |   |   |   | 23.9 | % |
| Cost of sales                 |   |                                   | 86,383  |   |   |   | 78.3 | % |   |   | 69,232 |   |   |   | 77.8 | % |   |   |   |   |   |   |   |   |
| Gross profit                  |   |                                   | 23,949  |   |   |   | 21.7 | % |   |   | 19,789 |   |   |   | 22.2 | % |   |   | 4,160 |   |   |   | 21.0 | % |
| General, selling and          |   |                                   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| administrative expenses       |   |                                   | 11,608  |   |   |   | 10.5 | % |   |   | 9,317 |   |   |   | 10.5 | % |   |   | 2,291 |   |   |   | 24.6 | % |
| Operating profit              |   |                                   | 12,341  |   |   |   | 11.2 | % |   |   | 10,472 |   |   |   | 11.7 | % |   |   | 1,869 |   |   |   | 17.8 | % |

|                                            |   |   Three Months Ended September 30, |    |
|-------------------------------------------------|--------|-----------------------------------------|---------|
|  Minerals and Materials Product Line Sales |   | 2010                                    |    |   | 2009 |   |   | % change |   |
|                                            |   | (Dollars in Thousands)                  |    |
| Metalcasting                                    |   | $                                       | 53,632  |   |   | $ | 38,097 |   |   |   | 40.8 | % |
| Specialty materials                             |   |                                    | 27,211  |   |   |   | 26,661 |   |   |   | 2.1 | % |
| Pet products                                    |   |                                    | 15,848  |   |   |   | 16,959 |   |   |   | -6.6 | % |
| Basic minerals                                  |   |                                    | 12,015  |   |   |   | 6,348 |   |   |   | 89.3 | % |
| Other product lines                             |   |                                    | 1,626   |   |   |   | 956 |   |   |   | * |   |
|                                            |   |                                    |    |   |   |   |   |   |   |   |   |   |
| Total                                           |   |                                    | 110,332 |   |   |   | 89,021 |   |   |   | 23.9 | % |
|                                            |   |                                    |    |   |   |   |   |   |   |   |   |   |
| * Not meaningful.                               |   |                                    |    |   |   |   |   |   |   |   |   |   |

----

|                    |   |  Three Months Ended September 30, |   |
|-------------------------|--------|----------------------------------------|--------|
|   Environmental    |   | 2010                                   |   | 2009 |   |   | 2010 vs. 2009 |   |
|                    |   |  (Dollars in Thousands)           |   |
| Net sales               |   | $                                      | 72,373 |   |   |   | 100.0 | % |   | $ | 64,493 |   |   |   | 100.0 | % |   | $ | 7,880 |   |   |   | 12.2 | % |
| Cost of sales           |   |                                   | 51,418 |   |   |   | 71.0 | % |   |   | 41,603 |   |   |   | 64.5 | % |   |   |   |   |   |   |   |   |
| Gross profit            |   |                                   | 20,955 |   |   |   | 29.0 | % |   |   | 22,890 |   |   |   | 35.5 | % |   |   | (1,935 | ) |   |   | -8.5 | % |
| General, selling and    |   |                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| administrative expenses |   |                                   | 12,404 |   |   |   | 17.1 | % |   |   | 12,135 |   |   |   | 18.8 | % |   |   | 269 |   |   |   | 2.2 | % |
| Operating profit        |   |                                   | 8,551  |   |   |   | 11.9 | % |   |   | 10,755 |   |   |   | 16.7 | % |   |   | (2,204 | ) |   |   | -20.5 | % |

|                                    |   |  Three Months Ended September 30, |   |
|-----------------------------------------|--------|----------------------------------------|--------|
|   Environmental Product Line Sales |   | 2010                                   |   |   | 2009 |   |   | % change |   |
|                                    |   |  (Dollars in Thousands)           |   |
| Lining technologies                     |   | $                                      | 33,407 |   |   | $ | 33,484 |   |   |   | -0.2 | % |
| Building materials                      |   |                                   | 15,822 |   |   |   | 14,227 |   |   |   | 11.2 | % |
| Contracting services                    |   |                                   | 16,148 |   |   |   | 11,243 |   |   |   | 43.6 | % |
| Drilling products                       |   |                                   | 6,996  |   |   |   | 5,539 |   |   |   | 26.3 | % |
|                                    |   |                                   |   |   |   |   |   |   |   |   |   |   |
| Total                                   |   |                                   | 72,373 |   |   |   | 64,493 |   |   |   | 12.2 | % |

|                     |   |   Three Months Ended September 30, |   |
|--------------------------|--------|-----------------------------------------|--------|
|   Oilfield Services |   | 2010                                    |   |   | 2009 |   |   | 2010 vs. 2009 |   |
|                     |   |  (Dollars in Thousands)            |   |
| Net sales                |   | $                                       | 41,204 |   |   |   | 100.0 | % |   | $ | 29,109 |   |   |   | 100.0 | % |   | $ | 12,095 |   |   |   | 41.6 | % |
| Cost of sales            |   |                                    | 29,249 |   |   |   | 71.0 | % |   |   | 19,491 |   |   |   | 67.0 | % |   |   |   |   |   |   |   |   |
| Gross profit             |   |                                    | 11,955 |   |   |   | 29.0 | % |   |   | 9,618 |   |   |   | 33.0 | % |   |   | 2,337 |   |   |   | 24.3 | % |
| General, selling and     |   |                                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| administrative expenses  |   |                                    | 7,876  |   |   |   | 19.1 | % |   |   | 6,522 |   |   |   | 22.4 | % |   |   | 1,354 |   |   |   | 20.8 | % |
| Operating profit         |   |                                    | 4,079  |   |   |   | 9.9 | % |   |   | 3,096 |   |   |   | 10.6 | % |   |   | 983 |   |   |   | 31.8 | % |

----

|                    |   |  Three Months Ended September 30, |   |
|-------------------------|--------|----------------------------------------|--------|
|   Transportation   |   | 2010                                   |   |   | 2009 |   |   | 2010 vs. 2009 |   |
|                    |   |  (Dollars in Thousands)           |   |
| Net sales               |   | $                                      | 14,284 |   |   |   | 100.0 | % |   | $ | 12,487 |   |   |   | 100.0 | % |   | $ | 1,797 |   |   |   | 14.4 | % |
| Cost of sales           |   |                                   | 12,654 |   |   |   | 88.6 | % |   |   | 10,933 |   |   |   | 87.6 | % |   |   |   |   |   |   |   |   |
| Gross profit            |   |                                   | 1,630  |   |   |   | 11.4 | % |   |   | 1,554 |   |   |   | 12.4 | % |   |   | 76 |   |   |   | 4.9 | % |
| General, selling and    |   |                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| administrative expenses |   |                                   | 876    |   |   |   | 6.1 | % |   |   | 861 |   |   |   | 6.9 | % |   |   | 15 |   |   |   | 1.7 | % |
| Operating profit        |   |                                   | 754    |   |   |   | 5.3 | % |   |   | 693 |   |   |   | 5.5 | % |   |   | 61 |   |   |   | 8.8 | % |

|                        |   |  Three Months Ended September 30, |   |
|-----------------------------|--------|----------------------------------------|--------|
| Corporate                   |   | 2010                                   |   |   | 2009 |   |   | 2010 vs. 2009 |   |
|                        |   |  (Dollars in Thousands)           |   |
| Intersegment shipping sales |   | $                                      | (4,742 | ) |   | $ | (4,190 | ) |   |   | (552 | ) |   |   |   |
| Intersegment shipping costs |   |                                   | (4,742 | ) |   |   | (4,190 | ) |   |   |   |   |   |   |   |
| Gross profit                |   |                                   | -      |   |   |   | - |   |   |   | - |   |   |   |   |
| General, selling            |   |                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| and administrative expenses |   |                                   | 3,203  |   |   |   | 5,791 |   |   |   | (2,588 | ) |   |   | -44.7 | % |
| Operating loss              |   |                                   | 3,203  |   |   |   | 5,791 |   |   |   | (2,588 | ) |   |   | -44.7 | % |

----

|                                                                            |   |  Nine Months Ended September 30,            |    |
|---------------------------------------------------------------------------------|--------|--------------------------------------------------|---------|
|   Consolidated                                                             |   | 2010                                             |    |   | 2009 |   |   | 2010 vs. 2009 |   |
|                                                                            |   | (Dollars in Thousands, Except Per Share Amounts) |    |
| Net sales                                                                       |   | $                                                | 629,115 |   |   | $ | 526,539 |   |   |   | 19.5 | % |
| Cost of sales                                                                   |   |                                             | 465,304 |   |   |   | 382,320 |   |   |   |   |   |
| Gross profit                                                                    |   |                                             | 163,811 |   |   |   | 144,219 |   |   |   | 13.6 | % |
| margin %                                                                        |   |                                             | 26.0    | % |   |   | 27.4 | % |   |   |   |   |
| General, selling and                                                            |   |                                             |    |   |   |   |   |   |   |   |   |   |
| administrative expenses                                                         |   |                                             | 106,785 |   |   |   | 101,047 |   |   |   | 5.7 | % |
| Operating profit                                                                |   |                                             | 57,026  |   |   |   | 43,172 |   |   |   | 32.1 | % |
| margin %                                                                        |   |                                             | 9.1     | % |   |   | 8.2 | % |   |   |   |   |
| Other income (expense):                                                         |   |                                             |    |   |   |   |   |   |   |   |   |   |
| Interest expense, net                                                           |   |                                             | (7,092  | ) |   |   | (9,399 | ) |   |   | -24.5 | % |
| Other, net                                                                      |   |                                             | 2,066   |   |   |   | (2,595 | ) |   |   | -179.6 | % |
|                                                                            |   |                                             | (5,026  | ) |   |   | (11,994 | ) |   |   |   |   |
|                                                                            |   |                                             |    |   |   |   |   |   |   |   |   |   |
| Income before income taxes and income (loss) from affiliates and joint ventures |   |                                             | 52,000  |   |   |   | 31,178 |   |   |   |   |   |
| Income tax expense                                                              |   |                                             | 12,894  |   |   |   | 6,388 |   |   |   | 101.8 | % |
| effective tax rate                                                              |   |                                             | 24.8    | % |   |   | 20.5 | % |   |   |   |   |
|                                                                            |   |                                             |    |   |   |   |   |   |   |   |   |   |
| Income before income (loss) from affiliates and joint ventures                  |   |                                             | 39,106  |   |   |   | 24,790 |   |   |   |   |   |
| Income (loss) from affiliates and joint ventures                                |   |                                             | 266     |   |   |   | (921 | ) |   |   | -128.9 | % |
|                                                                            |   |                                             |    |   |   |   |   |   |   |   |   |   |
| Net income (loss)                                                               |   |                                             | 39,372  |   |   |   | 23,869 |   |   |   |   |   |
|                                                                            |   |                                             |    |   |   |   |   |   |   |   |   |   |
| Net income (loss) attributable to noncontrolling interests                      |   |                                             | (322    | ) |   |   | 296 |   |   |   | -208.8 | % |
|                                                                            |   |                                             |    |   |   |   |   |   |   |   |   |   |
| Net income (loss) attributable to AMCOL shareholders                            |   | $                                                | 39,694  |   |   | $ | 23,573 |   |   |   | 68.4 | % |
|                                                                            |   |                                             |    |   |   |   |   |   |   |   |   |   |
| Basic earnings per share attributable to AMCOL shareholders                     |   | $                                                | 1.27    |   |   | $ | 0.77 |   |   |   | 64.9 | % |
|                                                                            |   |                                             |    |   |   |   |   |   |   |   |   |   |
| Diluted earnings per share attributable to AMCOL shareholders                   |   | $                                                | 1.26    |   |   | $ | 0.76 |   |   |   | 65.8 | % |

----

|                           |   | Organic |   |   | Acquisitions |   |   | Foreign Exchange |   |   | Total  |   |
|--------------------------------|--------|---------|--------|--------|--------------|--------|--------|------------------|--------|--------|--------|--------|
| Minerals and materials         |   |    | 12.4   | %      |         |   | 0.0    | %                |   |   | 0.8    | %      |   |   | 13.2 | % |
| Environmental                  |   |    | 1.5    | %      |         |   | 0.2    | %                |   |   | 0.5    | %      |   |   | 2.2 | % |
| Oilfield services              |   |    | 2.9    | %      |         |   | 0.0    | %                |   |   | 0.5    | %      |   |   | 3.4 | % |
| Transportation                 |   |    | 0.6    | %      |         |   | 0.0    | %                |   |   | 0.0    | %      |   |   | 0.6 | % |
|                           |   |    |   |   |         |   |   |             |   |   |   |   |   |   |   |   |
|     Total            |   |    | 17.4   | %      |         |   | 0.2    | %                |   |   | 1.8    | %      |   |   | 19.4 | % |
|     % of growth |   |    | 89.3   | %      |         |   | 1.0    | %                |   |   | 9.7    | %      |   |   | 100.0 | % |

|                                      |   | Americas |   |   | EMEA   |   |   | Asia Pacific |   |   | Total  |   |
|-------------------------------------------|--------|----------|--------|--------|--------|--------|--------|--------------|--------|--------|--------|--------|
| Minerals and materials                    |   |     | 31.6   | %      |   |   | 8.6    | %            |   |   | 9.8    | %      |   |   | 50.0 | % |
| Environmental                             |   |     | 13.4   | %      |   |   | 12.0   | %            |   |   | 2.5    | %      |   |   | 27.9 | % |
| Oilfield services                         |   |     | 14.7   | %      |   |   | 0.6    | %            |   |   | 2.4    | %      |   |   | 17.7 | % |
| Transportation                            |   |     | 4.4    | %      |   |   | 0.0    | %            |   |   | 0.0    | %      |   |   | 4.4 | % |
|                                      |   |     |   |   |   |   |   |         |   |   |   |   |   |   |   |   |
| Total - current year's period             |   |     | 64.1   | %      |   |   | 21.2   | %            |   |   | 14.7   | %      |   |   | 100.0 | % |
| Total from prior year's comparable period |   |     | 65.9   | %      |   |   | 23.5   | %            |   |   | 10.6   | %      |   |   | 100.0 | % |

----

----

|                          |   |  Nine Months Ended September 30, |    |
|-------------------------------|--------|---------------------------------------|---------|
|   Minerals and Materials |   | 2010                                  |    |   | 2009 |   |   | 2010 vs. 2009 |   |
|                          |   |  (Dollars in Thousands)          |    |
| Net sales                     |   | $                                     | 314,417 |   |   |   | 100.0 | % |   | $ | 244,657 |   |   |   | 100.0 | % |   | $ | 69,760 |   |   |   | 28.5 | % |
| Cost of sales                 |   |                                  | 238,918 |   |   |   | 76.0 | % |   |   | 193,774 |   |   |   | 79.2 | % |   |   | 45,144 |   |   |   | 23.3 | % |
| Gross profit                  |   |                                  | 75,499  |   |   |   | 24.0 | % |   |   | 50,883 |   |   |   | 20.8 | % |   |   | 24,616 |   |   |   | 48.4 | % |
| General, selling and          |   |                                  |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| administrative expenses       |   |                                  | 32,526  |   |   |   | 10.3 | % |   |   | 27,020 |   |   |   | 11.0 | % |   |   | 5,506 |   |   |   | 20.4 | % |
| Operating profit              |   |                                  | 42,973  |   |   |   | 13.7 | % |   |   | 23,863 |   |   |   | 9.8 | % |   |   | 19,110 |   |   |   | 80.1 | % |

|                                             |   |  Nine Months Ended September 30, |    |
|--------------------------------------------------|--------|---------------------------------------|---------|
|   Minerals and Materials Product Line Sales |   | 2010                                  |    |   | 2009 |   |   | % change |   |
|                                             |   |  (Dollars in Thousands)          |    |
| Metalcasting                                     |   | $                                     | 147,829 |   |   | $ | 100,592 |   |   |   | 47.0 | % |
| Specialty materials                              |   |                                  | 80,074  |   |   |   | 71,330 |   |   |   | 12.3 | % |
| Pet products                                     |   |                                  | 46,739  |   |   |   | 49,729 |   |   |   | -6.0 | % |
| Basic minerals                                   |   |                                  | 34,790  |   |   |   | 20,288 |   |   |   | 71.5 | % |
| Other product lines                              |   |                                  | 4,985   |   |   |   | 2,718 |   |   |   | * |   |
|                                             |   |                                  |    |   |   |   |   |   |   |   |   |   |
| Total                                            |   |                                  | 314,417 |   |   |   | 244,657 |   |   |   | 28.5 | % |
|                                             |   |                                  |    |   |   |   |   |   |   |   |   |   |
| * Not meaningful.                                |   |                                  |    |   |   |   |   |   |   |   |   |   |

----

|                    |   |  Nine Months Ended September 30, |    |
|-------------------------|--------|---------------------------------------|---------|
|   Environmental    |   | 2010                                  |    |   | 2009 |   |   | 2010 vs. 2009 |   |
|                    |   |  (Dollars in Thousands)          |    |
| Net sales               |   | $                                     | 175,707 |   |   |   | 100.0 | % |   | $ | 164,096 |   |   |   | 100.0 | % |   | $ | 11,611 |   |   |   | 7.1 | % |
| Cost of sales           |   |                                  | 123,634 |   |   |   | 70.4 | % |   |   | 107,580 |   |   |   | 65.6 | % |   |   |   |   |   |   |   |   |
| Gross profit            |   |                                  | 52,073  |   |   |   | 29.6 | % |   |   | 56,516 |   |   |   | 34.4 | % |   |   | (4,443 | ) |   |   | -7.9 | % |
| General, selling and    |   |                                  |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| administrative expenses |   |                                  | 35,725  |   |   |   | 20.3 | % |   |   | 34,913 |   |   |   | 21.3 | % |   |   | 812 |   |   |   | 2.3 | % |
| Operating profit        |   |                                  | 16,348  |   |   |   | 9.3 | % |   |   | 21,603 |   |   |   | 13.1 | % |   |   | (5,255 | ) |   |   | -24.3 | % |

|                                    |   | Nine Months Ended September 30, |    |
|-----------------------------------------|--------|---------------------------------|---------|
|   Environmental Product Line Sales |   | 2010                            |    |   | 2009 |   |   | % change |   |
|                                    |   | (Dollars in Thousands)          |    |
| Lining technologies                     |   | $                               | 84,994  |   |   | $ | 78,768 |   |   |   | 7.9 | % |
| Building materials                      |   |                            | 41,863  |   |   |   | 41,704 |   |   |   | 0.4 | % |
| Contracting services                    |   |                            | 30,787  |   |   |   | 27,382 |   |   |   | 12.4 | % |
| Drilling products                       |   |                            | 18,063  |   |   |   | 16,242 |   |   |   | 11.2 | % |
|                                    |   |                            |    |   |   |   |   |   |   |   |   |   |
| Total                                   |   |                            | 175,707 |   |   |   | 164,096 |   |   |   | 7.1 | % |

|                     |   |  Nine Months Ended September 30, |    |
|--------------------------|--------|---------------------------------------|---------|
|   Oilfield Services |   | 2010                                  |    |   | 2009 |   |   | 2010 vs. 2009 |   |
|                     |   |  (Dollars in Thousands)          |    |
| Net sales                |   | $                                     | 111,052 |   |   |   | 100.0 | % |   | $ | 93,140 |   |   |   | 100.0 | % |   | $ | 17,912 |   |   |   | 19.2 | % |
| Cost of sales            |   |                                  | 79,313  |   |   |   | 71.4 | % |   |   | 60,554 |   |   |   | 65.0 | % |   |   |   |   |   |   |   |   |
| Gross profit             |   |                                  | 31,739  |   |   |   | 28.6 | % |   |   | 32,586 |   |   |   | 35.0 | % |   |   | (847 | ) |   |   | -2.6 | % |
| General, selling and     |   |                                  |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| administrative expenses  |   |                                  | 21,879  |   |   |   | 19.7 | % |   |   | 20,123 |   |   |   | 21.6 | % |   |   | 1,756 |   |   |   | 8.7 | % |
| Operating profit         |   |                                  | 9,860   |   |   |   | 8.9 | % |   |   | 12,463 |   |   |   | 13.4 | % |   |   | (2,603 | ) |   |   | -20.9 | % |

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|                    |   |  Nine Months Ended September 30, |   |
|-------------------------|--------|---------------------------------------|--------|
|   Transportation   |   | 2010                                  |   |   | 2009 |   |   | 2010 vs. 2009 |   |
|                    |   |  (Dollars in Thousands)          |   |
| Net sales               |   | $                                     | 39,987 |   |   |   | 100.0 | % |   | $ | 35,336 |   |   |   | 100.0 | % |   | $ | 4,651 |   |   |   | 13.2 | % |
| Cost of sales           |   |                                  | 35,487 |   |   |   | 88.7 | % |   |   | 31,102 |   |   |   | 88.0 | % |   |   |   |   |   |   |   |   |
| Gross profit            |   |                                  | 4,500  |   |   |   | 11.3 | % |   |   | 4,234 |   |   |   | 12.0 | % |   |   | 266 |   |   |   | 6.3 | % |
| General, selling and    |   |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| administrative expenses |   |                                  | 2,536  |   |   |   | 6.3 | % |   |   | 2,551 |   |   |   | 7.2 | % |   |   | (15 | ) |   |   | -0.6 | % |
| Operating profit        |   |                                  | 1,964  |   |   |   | 5.0 | % |   |   | 1,683 |   |   |   | 4.8 | % |   |   | 281 |   |   |   | 16.7 | % |

|                        |   |  Nine Months Ended September 30, |    |
|-----------------------------|--------|---------------------------------------|---------|
|   Corporate            |   | 2010                                  |    |   | 2009 |   |   | 2010 vs. 2009 |   |
|                        |   |  (Dollars in Thousands)          |    |
| Intersegment shipping sales |   | $                                     | (12,048 | ) |   | $ | (10,690 | ) |   |   | (1,358 | ) |   |   |   |
| Intersegment shipping costs |   |                                  | (12,048 | ) |   |   | (10,690 | ) |   |   |   |   |   |   |   |
| Gross profit                |   |                                  | -       |   |   |   | - |   |   |   | - |   |   |   |   |
| General, selling            |   |                                  |    |   |   |   |   |   |   |   |   |   |   |   |   |
| and administrative expenses |   |                                  | 14,119  |   |   |   | 16,440 |   |   |   | (2,321 | ) |   |   | -14.1 | % |
| Operating loss              |   |                                  | (14,119 | ) |   |   | (16,440 | ) |   |   | 2,321 |   |   |   | -14.1 | % |

----

----

|                                                |   | Nine Months Ended   |   |
|-----------------------------------------------------|--------|---------------------|--------|
|   Cash Flows                                   |   |  September 30, |   |
|   ($ in millions)                              |   | 2010                |   |   | 2009 |   |
| Net cash provided by operating activities           |   | $                   | 35.2   |   |   | $ | 90.6 |   |
| Net cash used in investing activities               |   | $                   | (38.8  | ) |   | $ | (33.9 | ) |
| Net cash provided by (used in) financing activities |   | $                   | (4.0   | ) |   | $ | (57.7 | ) |

|                             |   | As at         |   |
|----------------------------------|--------|---------------|--------|
|   Financial Position        |   | September 30, |   |   | December 31, |   |
|   ($ in millions)           |   | 2010          |   |   | 2009 |   |
| Working capital                  |   | $             | 238.8  |   |   | $ | 203.7 |   |
| Goodwill & intangible assets |   | $             | 115.6  |   |   | $ | 118.3 |   |
| Total assets                     |   | $             | 812.8  |   |   | $ | 734.3 |   |
|                             |   |          |   |   |   |   |   |   |
| Long-term debt                   |   | $             | 229.7  |   |   | $ | 207.0 |   |
| Other long-term obligations      |   | $             | 49.1   |   |   | $ | 57.2 |   |
| Total equity                     |   | $             | 410.2  |   |   | $ | 379.8 |   |

----

d 

----

IO

| Mine                     | Section 104  (1) | Proposed MSHA Assessments (2) |
|--------------------------|----------------------------|------------------------------------|
| Gascoyne Mine & Mill | -                          | $108                               |
| Belle Fourche Mill       | -                          | -                                  |
| Lovell Mill              | -                          | 6,052                              |
| Colony West Mill         | -                          | 1,400                              |
| Colony East Mill         | -                          | -                                  |
| Yellowtail Mine          | -                          | -                                  |
| Belle/Colony Mine        | -                          | -                                  |
| Sandy Ridge Mill         | 4                          | 4,649                              |

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| 1.   | Total number of violations of mandatory health or safety standards that could significantly and substantially contribute to the cause and effect of a mine safety or health hazard under section 104 of the Mine Act for which AMCOL and its subsidiaries received a citation from MSHA |
|----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2.   | Total dollar amount of proposed assessments received from MSHA on or before September 30, 2010, for citations and orders occurring during the three-month period ended September 30, 2010. |
|----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

e

| 31.1 | Certification of Chief Executive Officer Pursuant to Rule 13a-14(a)/15d-14(a) |
|------|-------------------------------------------------------------------------------|
| 31.2 | Certification of Chief Financial Officer Pursuant to Rule 13a-14(a)/15d-14(a) |
| 32   | Certification of Periodic Financial Report Pursuant to 18 U.S.C. Section 1350 |

----

|   |  AMCOL INTERNATIONAL CORPORATION |   |
|--------|---------------------------------------|--------|

|  Date:                      November 2, 2010    |    /s/ Lawrence E. Washow  |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------|
|                                                                                                                                                                              |  Lawrence E. Washow                       |
|                                                                                                                                                                              |  President and Chief Executive Officer    |

|  Date:                      November 2, 2010  |     /s/ Donald W. Pearson  |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------|
|                                                                                                                                                                  |  Donald W. Pearson                             |
|                                                                                                                                                                  |  Vice President and Chief Financial Officer    |

----

| 31.1              | Certification of Chief Executive Officer Pursuant to Rule 13a-14(a)/15d-14(a)+ |
|-------------------|--------------------------------------------------------------------------------|
| 31.2              | Certification of Chief Financial Officer Pursuant to Rule 13a-14(a)/15d-14(a)+ |
| 32                | Certification of Periodic Financial Report Pursuant to 18 U.S.C. Section 1350+ |
| + Filed herewith. |

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