Ronald J. Naples, Chairman and Chief Executive Officer, stated, "This may be a very small acquisition, but Quaker gains proven cleaner technology that has been well accepted by major European steel producers. We now have a platform to build on that puts us in a stronger competitive position by being able to serve more of our customers' needs. In 2003, we expect a deminimus contribution to earnings. Over the next few years, we expect the profitability impact from the acquisition to grow as we expand our product offerings to our existing European customers and begin roll out of the newly acquired product lines to other regions."

Quaker Chemical Corporation, headquartered in Conshohocken, Pennsylvania, is a worldwide developer, producer, and marketer of custom-formulated chemical specialty products and a provider of chemical management services for manufacturers around the globe, primarily in the steel and automotive industries.

This release contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected in such statements. Such risks and uncertainties include, but are not limited to, further downturns in our customers' businesses, significant increases in raw material costs, worldwide economic and political conditions, the impact of SARS, foreign currency fluctuations, and future terrorist attacks such as those that occurred on September 11, 2001.