Filed by Ethyl Corporation
                           Pursuant to Rule 425 under the Securities Act of 1933

                                              Subject Company: Ethyl Corporation
                                                  Commission File No. 333-113325


ETHYL SHAREHOLDERS APPROVE NEW CORPORATE STRUCTURE

Richmond, VA, May 27, 2004 - Voting at their annual meeting, Ethyl Corporation's
(NYSE: EY) shareholders have approved the company's move to a holding company
structure. As previously announced the new holding company will be named
NewMarket Corporation. Upon completion of the transaction, which is anticipated
to take place on or before July 1, 2004, each share of the current Ethyl common
stock will automatically be converted into one share of NewMarket common stock.
NewMarket Corporation is expected to be listed on the New York Stock Exchange
under the ticker symbol "NEU".

Following the establishment of the holding company structure and an internal
restructuring of its subsidiaries, NewMarket will become the parent company of
two operating companies each managing its own assets and liabilities. Those
companies are Afton Chemical Corporation (formerly named Ethyl Petroleum
Additives, Inc.) which focuses on petroleum additive products; and Ethyl
Corporation, representing certain manufacturing operations and the tetraethyl
lead (TEL) business that inspired the original Ethyl name.

Discussing the new structure, President and CEO Thomas E. Gottwald said: "We
believe that the creation of NewMarket effectively mirrors the way we have
reported operations for many years. At the same time, we believe that it will
add important strengths as we continue to pursue the goals of our management
team: new customer solutions, increased shareholder value, and enhanced employee
opportunity."

Gottwald added "we believe that the creation of NewMarket brings clarity to our
operating structure and will establish a foundation for our future evolution. We
believe the holding company will facilitate acquisitions and joint ventures,
diversification into new markets and improve financing options. Through our
transition to NewMarket, our commitment to our customers to deliver the most
innovative, productive value-added solutions emphatically remains unchanged."

Forward-Looking Statements
--------------------------

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 and internal subsidiary 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.

CONTACT: Ethyl Corporation, Richmond
         Investor Relations
         David A. Fiorenza, 804-788-5555
         Fax:  804-788-5688
         Email:  investorrelations@ethyl.com

                                * * * * * * * * *

In connection with the merger that will establish the holding company formation,
Ethyl has filed with the Securities and Exchange Commission (the "SEC") a
definitive proxy statement and NewMarket has filed with the SEC a Registration
Statement on Form S-4, each of which contains the definitive proxy statement of
Ethyl and the prospectus of NewMarket. In addition, Ethyl and NewMarket will
file other relevant documents concerning the merger with the SEC. The definitive
proxy statement/prospectus was first mailed on or about April 22, 2004 to
shareholders of Ethyl. We urge investors to read the definitive proxy
statement/prospectus, and any other relevant documents to be filed with the SEC
because they contain important information. Investors can obtain the documents
free of charge at the SEC's website, http://www.sec.gov. In addition, documents
filed by Ethyl and NewMarket with the SEC can be obtained by contacting Ethyl at
the following address and telephone number: Ethyl Corporation, 330 South Fourth
Street, Richmond, Virginia 23219, Attention: Corporate Secretary, telephone:
(804) 788-5000.