SOURCE: NewMarket China, Inc.

May 08, 2008 11:41 ET

NewMarket China, Inc. to Change Corporate Name as Part of Company-Wide Strategic Update Supporting Increased Revenue Forecast

After Reporting 2007 36% Revenue Increase to $40 Million With 83% Net Income Increase, Company to Present Strategic Update in Webcast on May 14, 2008 at 4:30 PM EDT

DALLAS, TX--(Marketwire - May 8, 2008) - NewMarket China, Inc. (OTCBB: NMCH) yesterday announced plans to change its corporate name to China Crescent Enterprises, Inc. The name change is part of a company-wide strategic update. NewMarket China reported a 36% revenue increase over 2006 from organic sales in 2007 to $40 million with an 83% net income increase. NewMarket China has previously announced a forecasted increase in revenue to $50 million for 2008. Management intends to present a strategic update by Webcast to include a 2008 forecast increase.

Updated NewMarket China Strategy in China

The name change is intended to better position the company in the Asian market to acquire other companies and access regional investment. The name change will be made in conjunction with operational changes also intended to better position the Chinese operation in the Asian market.

China Crescent Enterprises, Inc.

The current name, NewMarket China, is not well suited for Asian business development. The Asian business culture usually associates a "farmers market" in connection with the word "market." The new name will be China Crescent Enterprises. The new name was carefully selected to have significance within Chinese history and culture. China has historically lived by a lunar calendar; for example, the annual harvest season is celebrated over "moon cakes." While the country is popularly believed to be a newly emerging powerhouse, China has a long history of entrepreneurialism and innovation. With those considerations in mind, the Company considered the phases of the moon and how a phase might parallel the economic development seen in China today. After a New Moon, a Waxing Crescent emerges shedding light. The symbolism of the Waxing Crescent and the parallels that can be drawn to the emergence of the fastest growing large economy in the world, are what the company, soon to be China Crescent Enterprises, has sought to capture in its new name.

Strategic Plan Update Webcast Scheduled for May 14, 2008 at 4:30 PM EDT

The Company has scheduled a Webcast for 4:30 PM EDT on May 14, 2008 to present a strategic plan update. A link to the Webcast will be available at An archive of the webcast will be available afterward for review.

Also available at this link is an archive to the recent Webcast reviewing 2007 operational and financial results conducted by the Company CEO and CFO.

Recent CEO Letter to Shareholders

Last week, NewMarket China released a letter to shareholders from CEO John T. Verges. The letter highlights the Company's rapid growth to $40 million in 2007 revenue and financial performance over the past five quarters since the Company's reorganization. Additionally, the letter goes on to discuss how the current share price performance has not yet reflected the Company's fundamental financial performance. The letter, which provides thoughtful internal analysis on share price performance potential, is meant to provide ongoing insight to shareholders and investors in regard to management's ongoing commitment to the Company's vision while current market performance is not necessarily conveying fundamental financial progress. The CEO's intention is to open a dialogue with shareholders and investors on the relationship between operational performance and share price performance.

To receive a copy of the letter in its entirety, contact the Company at or 214-722-3065.

Corporate Fact Sheet and Email Updates

If you would like to receive a corporate fact sheet highlighting the Company's operations, business plan and technology partners, or to be added to the corporate e-mail list for updates, please send an e-mail to or call 214-722-3065.

About NewMarket China, Inc. (

NewMarket China, 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, NewMarket China 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. NewMarket China also assists Western clients in localizing products and services to realize the tremendous growth potential available by expanding into the Chinese Market.


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 NewMarket'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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