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ETHYL REPORTS HIGHER FIRST-QUARTER RESULTS

 ETHYL REPORTS HIGHER FIRST-QUARTER RESULTS
 RICHMOND, Va., April 15 /PRNewswire/ -- Ethyl Corporation


(NYSE: EY) today reported higher net income and earnings per share for the first quarter of 1992 compared to last year's first quarter.
 Net income for the first quarter of 1992 was $63.2 million, or 53 cents a share, up 19 percent and 18 percent, respectively, from first-quarter 1991 net income of $52.9 million, or 45 cent a share. The 1992 results included after-tax realized investment gains by First Colony Life Insurance Company of $11 million, or nine cents a share, versus $3.1 million, or three cents a share, in 1991. The higher gains resulted primarily from involuntary bond calls and redemption. Excluding the effect of the higher realized investment gains, first- quarter 1992 income and earnings per share were five percent ahead of 1991.
 Total chemicals net sales and insurance revenues were $681.6 million for the first quarter of 1992, up four percent from $653.9 million for the first quarter of 1991. Insurance revenues increased 15 percent, while chemicals net sales declined two percent from 1991.
 Floyd D. Gottwald, Jr., chairman of the board, said: "Lubricant additives performance continues to show weakness, which was more than offset by improved results in lead antiknocks, Whitby Pharmaceuticals and silicon materials. First Colony Life's profit contribution continues to meet our objectives. Investment gains were pushed higher by lower bond-market interest rates, a trend that may continue."
 -0- 4/15/92
 /CONTACT: A. Prescott Rowe, 804-788-5413 or Robert P. Buford IV, 804-788-5494, both of Ethyl Corporation/
 (EY) CO: Ethyl Corporation ST: Virginia IN: CHM INS SU: ERN


DF -- CH004 -- 8579 04/15/92 10:12 EDT
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Publication:PR Newswire
Date:Apr 15, 1992
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