SOURCE: NewMarket Technology, Inc.

May 08, 2008 11:21 ET

NewMarket Technology, Inc. to Change Chinese Subsidiary Name as Part of Company-Wide Strategic Update Supporting Increased Revenue Forecast to Be Detailed in Upcoming Webcast

After Reporting 2007 20% Revenue Increase to $93.1 Million With Net Income of $7.3 Million, Company to Present Strategic Update in Webcast Now Scheduled for May 13, 2008 at 4:30 PM EDT

DALLAS, TX--(Marketwire - May 8, 2008) - NewMarket Technology, Inc. (OTCBB: NMKT) today announced plans for the Company's Chinese operating subsidiary to change its corporate name to China Crescent Enterprises, Inc. The name change is part of a company-wide strategic update. NewMarket reported a 20% revenue increase from organic sales in 2007 to $93.1 million with a 25% net income increase to $7.3 million. NewMarket has previously forecasted a continued 20% increase in revenue for 2008 from organic sales growth. Management intends to present a strategic update by Webcast to include a 2008 forecast increase.

Updated NewMarket Strategy in China

The Chinese subsidiary 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 subsidiary 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.

NewMarket Technology is, and will remain, the majority shareholder of the Company's Chinese operating subsidiary. Plans to change the subsidiary's name do not affect NewMarket Technology's relationship with NewMarket China.

The name change will formally become effective upon satisfaction of various State of Nevada and Securities and Exchange Commission administrative requirements. In conjunction with the name change, the Company will also apply for a new CUSIP and ticker symbol.

Webcast Scheduled for May 13, 2008 at 4:30 PM EDT

Due to management travel conflicts, the Company's Webcast originally scheduled for today, May 8 at 4:30 PM EDT will now be conducted on May 13, 2008 at 4:30 PM EDT. During the Webcast, management will present a strategic plan update, including details of NewMarket China's recent name change plans. The Company also intends to announce an increase to the Company's 2008 forecast. Management has previously provided guidance of an anticipated 20% increase in 2008 revenue over 2007. Additionally, the Mobility Computing Strategy update and Worldwide Strategies, Inc. acquisition progress will be included in the Webcast.

A link to the Webcast will be available at the Company's corporate Website Investor Relations page at http://www.newmarkettechnology.com/investor-relations.htm under "Current Events and Communications" or by going to http://www.vcall.com/IC/CEPage.asp?ID=119083. An archive of the webcast will be available afterwards for review.

Updated Corporate Overview

An updated corporate overview including NewMarket's 2007 financial results and an overview of the Company's systems integration and emerging technology business and operations in North America, Asia and Latin America is now available on the Company's Investor Relations webpage at http://www.newmarkettechnology.com/investor-relations.htm under "Corporate Fact Sheets."

Corporate E-mail Updates

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

About NewMarket Technology, Inc. (www.newmarkettechnology.com)

NewMarket helps clients maintain the delicate balance between maintaining legacy systems and gaining a competitive edge from the latest technology innovations. NewMarket provides certified systems integration and maintenance services to support the prevailing industry standard solutions from companies such as Microsoft, Oracle, Infor, Cisco Systems, SAP, Siebel and Sun Microsystems. Concurrently, NewMarket continuously seeks to acquire emerging technology assets to incorporate into an overall product portfolio carefully packaged to complement the prevailing industry standard solutions.

NewMarket delivers its portfolio of products and services through its network of Solution Integration subsidiaries in North America and the leading emerging markets around the world to include, Latin America, China and Singapore.

NewMarket ranked Number One in Texas, Number Three in the United States and Number Five in North America on Deloitte's 2006 Technology Fast 500, a ranking of the 500 fastest growing technology, media, telecommunications and life sciences companies in North America. Rankings are based on percentage revenue growth over five years, from 2001-2005. The Company grew from less than $1 million in revenue in 2001 to over $50 million in profitable revenue in 2005.

The company has continued its rapid growth, reporting $77.6 million in revenue with a net income of $5.8 million in 2006 and most recently $93.1 million in revenue with a net income of $7.3 million in 2007.

"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 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.

Contact Information