Newpark Resources Inc (NR)

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Newpark Resources Provides Update on Sale of Environmental Services Business
THE WOODLANDS, Texas, March 10 /PRNewswire-FirstCall/ -- Newpark Resources, Inc. (NYSE: NR) today announced that the Hart Scott Rodino waiting period for the sale of Newpark Environmental Services to Trinity TLM Acquisitions, LLC ('Trinity') has expired. Although all other closing conditions have been or are expected to be satisfied before the end of the first quarter of 2008, Newpark has been advised by Trinity that Trinity will require additional time to arrange financing for this transaction. Without waiving its rights under the Membership Interest Purchase Agreement, Newpark has agreed to accommodate the request from Trinity for additional time to arrange for the financing of its acquisition of Newpark Environmental Services.

Paul Howes, Newpark's President and Chief Executive Officer, stated, 'The continued uncertainty surrounding the credit markets has delayed Trinity's ability to arrange financing. Although there is no guarantee of a transaction occurring, we currently expect the deal to close before the end of the second quarter of 2008.'

Newpark Resources, Inc. is a worldwide provider of drilling fluids, temporary worksites and access roads for oilfield and other commercial markets, and environmental waste treatment solutions. For more information, visit our website at www.newpark.com.