NewMarket China, Inc. Issues Update on Name Change to China Crescent Enterprises, Inc.

DALLAS, TX--(Marketwire - May 29, 2008) - NewMarket China, Inc. (OTCBB: NMCH) recently announced its intentions to change the Company's corporate name to China Crescent Enterprises, Inc. As was mentioned at that time, this change is part of the Company's overall plan to distinguish itself from its parent company and to better position the Company for business development in the Asian market. The Company is a product of the parent company's vision to develop small businesses, but it has developed to a point where it is important not to be confused as simply a carbon copy. China offers many opportunities, and often times they are quite different from those available in North America. NewMarket China will always be a product of the parent company's business plan, but its regional focus has it growing in different ways.

The Company is well on its way to completing the name change. The process typically takes 30 to 60 days to complete, and the Company is targeting a completion of the process by the end of June. The name change has been reviewed by the Securities and Exchange Commission (SEC), and the Company should be sending out a mailer to shareholders within the next few days.

As described in a recent Webcast, we chose the name to capture the symbolism of a waxing crescent moon. The lunar cycle is intertwined within Chinese culture, and we sought to employ that fact in our new name. The name is designed to draw parallels between the light that is shed on a waxing crescent moon and the rapid growth of China's emerging economy.

China Crescent Enterprises Website

While the new Company Website is not complete, the new Company domain will be www.ChinaCrescent.com. The old domain will continue to work, but will be redirected to China Crescent for the foreseeable future.

China Conference Scheduled for June 23, 2008

The Company's previously announced live conference, scheduled for June 23, 2008, will discuss the name change and the Company's forward-looking plans. If you would like to attend, please contact Whitney Marks at wmarks@newmarketchina.com or 214-722-3052 to reserve a seat.

Corporate E-mail Updates

To be added to NewMarket China'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 NewMarket China, Inc. (www.newmarketchina.com)

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.

"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: Contact: NewMarket China, Inc. ir@newmarketchina.com 214-722-3065