Exhibit 99.1

NEWMARKET CORPORATION REPORTS RECORD RESULTS FOR THE YEAR 2011

Richmond, VA, February 1, 2012 – 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 2011.

Net income for the year 2011 increased to $206.9 million, or $15.09 per share, compared to net income of $177.1 million, or $12.09 per share, for the year 2010. For the fourth quarter of this year, net income was $33.7 million, or $2.51 per share, compared to net income of $49.4 million, or $3.47 per share for the same period last year.

The earnings for the current year and prior year periods include the impact from an interest rate swap while the current year also includes a gain on a legal settlement. The following Summary of Earnings reflects net income including these two items, as well as earnings excluding them and the related per share amounts.

Petroleum additives operations had another strong performance this year with operating profit of $348.3 million including the benefit of a net gain of $38.7 million from a legal settlement. Excluding the benefit of the legal settlement, petroleum additives operating profit for the year 2011 increased to $309.6 million, an improvement of approximately 4 percent over 2010 operating profit of $299.1 million. The results reflect improved earnings in both the lubricant additives and fuel additives product lines. Sales of petroleum additives for the year increased to $2.1 billion, up 20 percent over sales last year of $1.8 billion including the benefit of a 6 percent increase in shipments. This strong performance of petroleum additives in 2011 includes operating profit improvement in each major geographic region in which we operate. This success is driven by our strong commitment to research and development enabling us to supply our customers with the differentiating top quality products, marketing solutions and technical support that enhance their position in the marketplace.

Petroleum additives operating profit for the fourth quarter of this year was $59.3 million, which was down 18 percent compared to fourth quarter 2010 operating profit of $72.0 million. Sales for the fourth quarter increased to $499 million which was 10 percent higher than sales for the fourth quarter last year even though shipments were down 2 percent. We believe that the decline in shipments and operating profits in the fourth quarter include the effect of reduction of inventory levels by some of our customers, as well as some slowdown in demand influenced by economic issues around the world, predominately in Europe. We also incurred several significant one-time costs in the quarter.

We believe that, despite a softening of demand in Europe and an uncertain world economy, worldwide demand for additives will continue to grow at a 1-2% per annum rate. We remain confident in our ability to continue to exceed this industry growth rate.

The cash flow from our operating performance this year enabled us to repurchase 659,373 shares of our common stock for $94.8 million, increase our dividend from 44 cents per share last January to its current level of 75 cents per share and spend a record $105.5 million in research and development for the year while increasing our revolving debt by only $18 million. We continue to emphasize the use of our strong cash flows on strengthening our business operations and enhancing shareholder value.

The year 2011 was another year of growth and achievements. Both 2011 and future year operations are solidly based on a strategy of delivering the goods and services our customers need to succeed in their marketplace. I want to thank our customers for their continued support and thank our employees for their dedication to meeting our customers’ needs and maintaining a safe working environment in our operations around the world.

Sincerely,

Thomas E. Gottwald

The year 2011 results include a net gain on a legal settlement. All periods included in this earnings release include the expense or income on an interest rate swap related to financing on Foundry Park resulting from the Company valuing the swap agreement at fair value at the end of each reporting period. The Company is reporting net income including these items, as well as income excluding them, and related per share amounts in the Summary of Earnings included in the earnings release. The Company has also included the non-GAAP financial measure EBITDA in this earnings release. A schedule following the financial statements included in this earnings release is provided reflecting the calculation of EBITDA, defined as Net income, before the deduction of interest and financing expenses, income taxes, depreciation and amortization. EBITDA is shown on the schedule both including and excluding the benefit of the legal settlement and the impact of valuing the swap agreement. The Company believes that even though these items are not required by or presented in accordance with United States generally accepted accounting principles (GAAP), these additional measures enhance understanding of the Company’s performance and period to period comparability. The Company believes that these items should not be considered an alternative to net income determined under GAAP.

As a reminder, a conference call and Internet webcast is scheduled for 10:00 a.m. EST on Thursday, February 2, 2012, to review fourth quarter and year 2011 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 9, 2012 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 386662. 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 recent or future acquisitions or successfully integrate recent or 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 2010 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)

NEWMARKET CORPORATION AND SUBSIDIARIES

SELECTED CONSOLIDATED CASH FLOW DATA

(In thousands, unaudited)

NEWMARKET CORPORATION AND SUBSIDIARIES

NON-GAAP FINANCIAL INFORMATION

(In thousands, unaudited)