Item 1.01 - Entry into a Material Definitive Agreement

On June 24, 2009, Chase Corporation (the "Company") sold property (building and land) to ChaseBay Real Estate Holdings, Inc. ("ChaseBay") for a purchase price of $1,370,000. The building and land are located in West Bridgewater, MA and are currently being occupied by Sunburst Electronics Manufacturing Solutions, Inc. ("Sunburst"). Andrew Chase, President of Sunburst, and partner of ChaseBay is the son of Edward L. Chase (deceased), the brother of Peter R. Chase (the President and CEO of the Company) and a Trustee of the Edward L. Chase Revocable Trust (the "Trust"). The Trust is 100% owner of Sunburst and is a significant shareholder of Chase Corporation, holding 1,157,902 shares of the Company's common stock as of the date of this transaction.

The terms and conditions of the sale transaction were determined through arm's length negotiations among the Company and ChaseBay. The transaction was reviewed and approved by an independent committee of the Chase Corporation Board of Directors which concluded that the sale price was appropriate given a recent market appraisal of the land and building performed by an independent third party valuation firm.

The sale of the property will result in an accounting charge for the Company of approximately $262,000, which will be recorded in the third quarter ending May 31, 2009 and represents the write down of the book value of the land and building sold at its current market value, as required by generally accepted accounting principles.

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