Exhibit 99.1

ETHYL FINALIZES NEW LONG-TERM DEBT STRUCTURE

Richmond, VA--April 30, 2003--Ethyl Corporation (NYSE: EY) announced today that
it has implemented a new long-term debt structure. As part of this structure,
Ethyl today completed its offering of $150 million of 8 7/8% senior notes due
2010, executed a $115 million bank term loan due 2009, and executed a $50
million revolving credit facility, which the Company expects to use primarily
for working capital needs.

The net proceeds from these transactions were used to repay the Company's
previously existing debt which was due to expire in March, 2004.

The Senior Notes have not been registered under the Securities Act of 1933 and
may not be offered or sold in the United States absent registration or an
applicable exemption from the registration requirements of the Securities Act
and applicable state securities laws.

Ethyl Corporation develops, manufactures, blends, and delivers chemical
additives that enhance the performance of petroleum products. From
custom-formulated chemical blends to market-general additive components, Ethyl
provides the world with the technology to make fuels burn cleaner, engines run
smoother and machines last longer.

Forward-Looking Statement

Some of the information contained in this press release constitutes
forward-looking comments 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 from expectations are included in Ethyl's latest annual report on Form
10-K, which is available upon request.


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