Exhibit 99.1

NEWMARKET CORPORATION REPORTS IMPROVED YEAR AND FOURTH QUARTER RESULTS

Richmond, VA, February 3, 2011 – NewMarket Corporation (NYSE – NEU) President and Chief Executive Officer, Thomas E. Gottwald, released the following earnings report of the Company’s operations for the year and fourth quarter 2010.

Net income for the year 2010 increased to $177.1 million, or $12.09 per share, an improvement of 9 percent over net income for the year 2009 of $162.3 million, or $10.65 per share. For the fourth quarter, net income improved 7 percent to $49.4 million, or $3.47 per share, compared to net income for the fourth quarter last year of $46.3 million, or $3.03 per share. The percentage increase in earnings per share was 14 percent for both the year and fourth quarter reflecting the additional benefit of the stock purchases. Net income for all periods includes gains and losses on an interest rate swap agreement related to financing on Foundry Park which are reflected separately for each period in the Summary of Earnings schedule at the end of this press release.

Petroleum additives operations had a very strong performance in 2010 with operating profit improving to $299.1 million, an increase of 7 percent over operating profit last year of $279.8 million. The improvement reflects the continuing excellent performance of the lubricant additive product line. Sales of petroleum additives for the year improved to $1.77 billion, an increase of 17 percent over sales for the year 2009 of $1.52 billion. The increase in sales included the benefit of a 12 percent increase in shipments compared to last year.

Petroleum additives results were also up for the fourth quarter with operating profit of $72 million, an increase of 9 percent over operating profit for fourth quarter last year of $65.8 million. Sales of petroleum additives for this year’s fourth quarter of $455.0 million were up 13 percent over sales of $401.4 million for the fourth quarter last year including the benefit of a 3 percent increase in shipments.

This strong performance in 2010 reflects the continuing strength of our petroleum additives operations in all regions. This success is driven by our commitment to supply our customers with the differentiating top quality products, marketing solutions and unique technical support that enhances their position in the marketplace.

This strong operational performance and resulting cash flow, together with available cash, enabled us to complete several important initiatives during the year, including (i) the first quarter 2010 acquisition of Polartech, a leading metalworking additives company, (ii) purchasing 1,213,158 shares (287,917 shares in the fourth quarter) of our

common stock for $124.9 million, and (iii) reducing debt during the year by $28.2 million. We remain intent on focusing the use of our cash flow on enhancing our business operations and generating shareholder value.

While 2010 was NewMarket’s most profitable year, it was also a year marked by considerable investment for the future. We added manufacturing capacity in Singapore to better serve our Asia/Pacific customers, invested in additional facilities and testing capability in R&D, introduced a number of new products, added additional staffing around the world, and put in place new management systems to position ourselves for future growth. In addition, we finished the year with the lowest Recordable Injury rate in our history.

Our performance in 2010 gives us good momentum and we are well positioned for the challenges and opportunities of 2011 and thereafter. I want to thank our customers for their continued support, and I want to thank our employees for working safely and smartly around the world.

Sincerely,

Thomas E. Gottwald

Summary of Earnings for the 2010 and 2009 Periods

As noted, net income for the fourth quarter of both 2010 and 2009 included income benefits while the full year 2010 and 2009 included charges on an interest rate swap agreement related to financing on Foundry Park. These amounts result from the Company valuing the swap agreement at its fair value.

The Company is reporting net income including these amounts, as well as income excluding them, and related per share amounts in this Summary of Earnings. The Company believes that even though income, excluding these amounts, is not required by or presented in accordance with generally accepted accounting principles (GAAP) accepted in the United States, this additional measure enhances understanding of the Company’s performance. The Company believes earnings, excluding this item, enhance period to period comparability. The Company believes that income, excluding this item, should not be considered an alternative to net income determined under GAAP. The following table is a reconciliation of net income under GAAP to net income excluding the gains and losses on the interest rate swap agreement.

As a reminder, a conference call and Internet webcast is scheduled for 10:00 a.m. EST on Friday, February 4, 2011, to review fourth quarter and year 2010 financial results. You can access the conference call live by dialing 1-

877-407-9210 (domestic) or 1-201-689-8049 (international) and requesting the NewMarket conference call. To avoid delays, callers should dial in five minutes early. The call will also be broadcast via the Internet and can be accessed through the Company’s website at www.NewMarket.com or www.investorcalendar.com. A teleconference replay of the call will be available until February 12, 2011 at 11:59 p.m. EST by dialing 1-877-660-6853 (domestic) and 1-201-612-7415 (international). The account number is 286. The conference ID number is 364809. A webcast replay will be available for 30 days.

NewMarket Corporation through its subsidiaries, Afton Chemical Corporation and Ethyl Corporation, develops, manufactures, blends, and delivers chemical additives that enhance the performance of petroleum products. From custom-formulated chemical blends to market-general additive components, the NewMarket family of companies provides the world with the technology to make fuels burn cleaner, engines run smoother and machines last longer.

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 NewMarket’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: availability of raw materials and transportation systems; supply disruptions at single sourced facilities; ability to respond effectively to technological changes in our industry; failure to protect our intellectual property rights; hazards common to chemical businesses; occurrence or threat of extraordinary events, including natural disasters and terrorist attacks; competition from other manufacturers; sudden or sharp raw materials price increases; gain or loss of significant customers; risks related to operating outside of the United States; the impact of fluctuations in foreign exchange rates; political, economic, and regulatory factors concerning our products; future governmental regulation; resolution of environmental liabilities or legal proceedings; inability to complete future acquisitions or successfully integrate future acquisitions into our business and other factors detailed from time to time in the reports that NewMarket files with the Securities and Exchange Commission, including the risk factors in Item 1A, “Risk Factors” of our 2009 Annual Report on Form 10-K, which is available to shareholders upon request.

You should keep in mind that any forward-looking statement made by NewMarket in the foregoing discussion speaks only as of the date on which such forward-looking statement is made. New risks and uncertainties come up from time to time, and it is impossible for us to predict these events or how they may affect the company. We have no duty to, and do not intend to, update or revise the forward-looking statements in this discussion after the date hereof, except as may be required by law. In light of these risks and uncertainties, you should keep in mind that the events described in any forward-looking statement made in this discussion, or elsewhere, might not occur.

FOR INVESTOR INFORMATION CONTACT:

David A. Fiorenza

Investor Relations

Phone:   804.788.5555

Fax:        804.788.5688

Email:    investorrelations@newmarket.com

NEWMARKET CORPORATION AND SUBSIDIARIES

SEGMENT RESULTS AND OTHER FINANCIAL INFORMATION

(In millions except per share amounts, unaudited)

Notes to Segment Results and Other Financial Information

NEWMARKET CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME

(In thousands except per share amounts, unaudited)

Notes to Consolidated Statements of Income

NEWMARKET CORPORATION AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(In thousands, unaudited)