Lubrizol Announces Price Increases for All Product Lines to Address Rapidly Escalating...

Lubrizol Announces Price Increases for All Product Lines to Address Rapidly
Escalating Raw Material Costs

CLEVELAND, June 6 /PRNewswire-FirstCall/ -- The Lubrizol Corporation
(NYSE: LZ) announced today a global price increase for all product lines
effective June 16. The majority of the increases will be in the range of 12
to 20 percent. The actual price increases will be dependent upon the specific
product's exposure to increasing raw materials costs and energy-related
production costs. Lubrizol will review all terms with its customers.
This action includes previously announced price increases currently being
implemented in the Lubrizol Additives segment and in certain Lubrizol Advanced
Materials products lines.
Over the past several years, each Lubrizol business segment has
implemented numerous price increases to address rising raw material and energy
costs. However, recent substantial escalations in the cost of key raw
materials, production-related utilities and freight necessitate this
enterprise-wide and global price action.
James L. Hambrick, Lubrizol's chairman, president and chief executive
officer said, "Our raw material and energy costs have been impacted
significantly by the unprecedented surge in crude oil and natural gas costs,
both of which have increased over 40 percent since early 2008. We continue to
execute strategies designed to improve efficiencies and reduce operating
costs,
but it is essential that we implement price increases to recover these cost
increases and sustain our viability as a valued supplier to our customers and
their industries."
About The Lubrizol Corporation
The Lubrizol Corporation (NYSE: LZ) is an innovative specialty chemical
company that produces and supplies technologies that improve the quality and
performance of our customers' products in the global transportation,
industrial and consumer markets. These technologies include lubricant
additives for engine oils, other transportation-related fluids and industrial
lubricants, as well as fuel additives for gasoline and diesel fuel. In
addition, Lubrizol makes ingredients and additives for personal care products
and pharmaceuticals; specialty materials, including plastics technology and
performance coatings in the form of specialty resins and additives.
Lubrizol's industry-leading technologies in additives, ingredients and
compounds enhance the quality, performance and value of customers' products,
while reducing their environmental impact.
With headquarters in Wickliffe, Ohio, The Lubrizol Corporation owns and
operates manufacturing facilities in 19 countries, as well as sales and
technical offices around the world. Founded in 1928, Lubrizol has
approximately 6,900 employees worldwide. Revenues for 2007 were $4.5 billion.
For more information, visit http://www.lubrizol.com .
Forward-Looking Statements
This announcement contains forward-looking statements within the meaning
of the federal securities laws. As a general matter, forward-looking
statements relate to anticipated trends and expectations rather than
historical matters. Forward-looking statements are subject to uncertainties
and factors relating to the company's operations and business environment that
are difficult to predict and may be beyond the control of the company. Such
uncertainties and factors may cause actual results to differ materially from
those expressed or implied by forward-looking statements. Uncertainties and
risk factors that could affect the future performance of the company and cause
results to differ from the forward-looking statements in this announcement
include, but are not limited to, the company's ability to raise prices in an
environment of increasing raw material costs; conditions affecting the
company's customers, suppliers and the industries that it serves; competitors'
responses to the company's products; the increased leverage resulting from the
financing of the Noveon International, Inc. acquisition; changes in
accounting,
tax or regulatory practices or requirements; and other factors that are set
forth in the company's most recently filed reports with the Securities and
Exchange Commission. The forward-looking statements contained herein
represent the company's judgment as of the date of this announcement and it
cautions readers not to place undue reliance on such statements. The company
assumes no obligations to update the statements contained in this
announcement.
SOURCE The Lubrizol Corporation

Financial, Investor Contact: Mark Sutherland, +1-440-347-1206, or Media: Julie
Young, +1-440-347-4432, both of The Lubrizol Corporation