NMCH Issues Update on 2008 Acquisition Strategy to Include Letter of Intent to Acquire Operations With Approximately $100 Million in Annual Revenue

Pegasus Wireless Corp. Enters Into Letter of Intent to Combine Operations With NewMarket's Chinese Operations


DALLAS, TX--(MARKET WIRE)--Feb 13, 2008 -- NewMarket China, Inc. (OTC BB:NMCH.OB - News) today released an update on the Company's 2008 acquisition strategy. In addition to the anticipation of continued strong organic growth, NewMarket China plans to expand its current product line, increase profit margin and substantially augment existing revenue through acquisition.
Continuing Strong Growth From $29.5 Million to approximately $40 Million in Revenue and Beyond

The Company reported $29.5 million in revenue in 2006 and anticipates reporting approximately $40 million in revenue for 2007. The Company anticipates a revenue increase of at least 20% stemming from organic sales in 2008 and potentially an even greater increase as the result of acquisitions.

Acquisition Pipeline to Expand Product Line, Increase Profit and Augment Revenue

The Company's acquisition strategy is centered on diversifying its current product line with an emphasis on increasing profit margins. Today, NewMarket China is primarily a provider of globally recognized brand name technology solutions in China. The intent of the acquisition strategy is to leverage the Company's current organizational foundation in China to expand its product portfolio and sales from China into other international markets. The relatively low labor cost in China provides the Company the opportunity to sell higher margin technology products and services sourced in China, into international markets where Chinese market advantages provide a competitive value proposition. NewMarket China currently has several acquisition opportunities under consideration. In some instances, the Company has entered into non-binding letters of intent to acquire specific operations under certain terms and subject to due diligence.

LOI to Acquire Operations of Pegasus Wireless with $100 Million in Annual Revenue

The Company has not publicly disclosed the companies being considered for acquisition. However, the Company's intent to acquire the operations of Pegasus Wireless has otherwise been disclosed pursuant to a recently filed public court document. Accordingly, NewMarket Technology, Inc. (OTC BB:NMKT.OB - News), NewMarket China's parent company, has received several inquiries from shareholders regarding the potential acquisition. NewMarket China CEO John T. Verges has issued the following statement to address shareholder questions regarding the Company's intent to acquire the operations of Pegasus Wireless:

"NewMarket Technology, Inc. is the majority shareholder of NewMarket China, Inc. and NewMarket Technology, Inc. has entered into a letter of intent to acquire the operations of Pegasus and subsequently to combine those operations into NewMarket China, Inc. At this stage, the potential of completing the acquisition must be considered speculative. The letter of intent is subject to due diligence. Furthermore, Pegasus is an organizationally distressed operation and certain issues regarding the subject distress must be specifically resolved for the proposed transaction between NewMarket and Pegasus to be realized. We are optimistic about the prospects of the acquisition being realized but cannot forecast with any certainty the completion of the acquisition, nor the timing thereof."

Corporate E-mail Updates

To be added to NewMarket China's e-mail database of shareholders and interested investors, please send an e-mail to ir@newmarketchina.com.

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.

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 integration and maintenance services to support the prevailing industry standard solutions such as Microsoft, 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. In 2006, the company continued its rapid growth, reporting $77.6 million in revenue with a net income of $5.8 million.

"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.