SOURCE: China Crescent Enterprises, Inc.

June 24, 2008 10:18 ET

NewMarket China, Inc. Announces Corporate Name Change to China Crescent Enterprises, Inc. During Chinese Investment Seminar

DALLAS, TX--(Marketwire - June 24, 2008) - NewMarket China, Inc. (OTCBB: NMCH) announced yesterday at the Company's Chinese Investment Seminar that the Company's corporate name change to China Crescent Enterprises, Inc. is now effective. All necessary paperwork has been submitted by the Company to receive its new ticker symbol, and it expects the new ticker to be assigned in the very near future. Until that time, the Company will begin to use its new name, but will continue to trade under its existing ticker symbol until the new ticker is assigned by NASDAQ. NASDAQ manages the issuance of ticker symbols for the OTCBB.

Incoming China Crescent CEO Paul K. Danner stated, "The name change to China Crescent Enterprises better reflects the Company's direction as we continue our rapid growth and expansion in China and into additional markets. With our plans for seeking higher margin lines of business and long-term managed services contracts, we sought a name to help us effectively communicate our business strategy to both the domestic U.S. and international markets. We look forward to continuing to foster the relationships we have built as NewMarket China, and to work with our partners to expand our client base in the region."

Yesterday's Chinese Investment Seminar hosted by the Company in Dallas, TX, addressed China Crescent's future business plans and highlighted the opportunities in China created by the upcoming 2008 Beijing Olympics and 2010 World Expo in Shanghai. Management noted the resilience of the Chinese economy in its ability to absorb the impact of the recent tragic earthquake while remaining on track for double-digit GDP growth in 2008 and beyond. Additionally, management discussed the LOI announcement made yesterday by its parent company NewMarket Technology, and its benefit to the NewMarket family of companies.

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Corporate E-mail Updates

To be added to China Crescent's e-mail database to receive company updates or to obtain more information on the Company, please send an e-mail to ir@newmarketchina.com or call 214-722-3065.

About China Crescent Enterprises, Inc. (www.newmarketchina.com)

China Crescent Enterprises, Inc. is a technology leader in the rapidly developing Chinese market specializing today in software engineering, high quality software development and digital multimedia outsourcing services delivered to customers globally. At the same time, the firm is a systems integrator and value added reseller of major global hardware brands in the Chinese domestic market.

Headquartered in Dallas with operations in Shanghai and Beijing, China Crescent bridges the gap between Western and Eastern business cultures to assist western clients in realizing the advantages of the high quality, low cost technology products and services available from China. China Crescent also assists Western clients in localizing products and services to realize the tremendous growth potential available by expanding into the Chinese Market.

"SAFE HARBOR STATEMENT" UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

This press release contains forward-looking statements that involve risks and uncertainties. The statements in this release are forward-looking statements that are made pursuant to safe harbor provision of the Private Securities Litigation Reform Act of 1995. Actual results, events and performance could vary materially from those contemplated by these forward-looking statements. These statements involve known and unknown risks and uncertainties, which may cause China Crescent's actual results in future periods to differ materially from results expressed or implied by forward-looking statements. These risks and uncertainties include, among other things, product demand and market competition. You should independently investigate and fully understand all risks before making investment decisions.

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