Ethyl Planning to Close Holding Company Transaction 

Richmond, VA, June 16, 2004 - Ethyl Corporation (NYSE: EY) announced today it intends to complete the formation of its new holding company, NewMarket Corporation, on June 18, 2004. The Company intends that the stock of NewMarket Corporation will begin trading on the New York Stock Exchange on Monday, June 21, 2004 under the trading symbol “NEU”. The Company will continue trading under the symbol “EY” until the close of business on Friday, June 18, 2004. Upon closing of the transaction, each share of Ethyl Corporation stock will automatically be converted into one share of NewMarket Corporation stock.

Forward-Looking Statement

Some of the information contained in this press release constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although Ethyl’s management believes its expectations are based on reasonable assumptions within the bounds of its knowledge of its business and operations, there can be no assurance that actual results will not differ materially from expectations.

Factors that could cause actual results to differ materially from expectations include, but are not limited to: our ability to complete the holding company restructuring, timing of sales orders; gain or loss of significant customers; competition from other manufacturers; a significant rise in interest rates; resolution of environmental liabilities; changes in the demand for Ethyl’s products; significant changes in new product introduction; increases in product cost; the impact of fluctuations in foreign exchange rates on reported results of operations; changes in various markets; geopolitical risks in certain of the countries in which Ethyl conducts business; the impact of consolidation of the petroleum additives industry; and other factors detailed from time to time in the reports that Ethyl files with the Securities and Exchange Commission, including the risk factors in Item 7A, “Quantitative and Qualitative Disclosures About Market Risk” of Ethyl’s 2003 Annual Report on Form 10-K, which is available to shareholders upon request.


     NewMarket Corporation, Richmond
     Investor Relations: David A. Fiorenza, 804-788-5555
     Fax: 804-788-5688