Release Details

THE WOODLANDS, Texas, Dec. 21 /PRNewswire-FirstCall/ -- Newpark Resources, Inc. (NYSE: NR) today announced that it has entered into a new $225 million secured credit facility with a bank group led by JP Morgan Chase Bank, N.A.

This new facility consists of a $175 million revolving line of credit and a $50 million term loan. Borrowings under this new facility were used to repay in full the outstanding balances and terminate the Company's $150 million term credit facility and $100 million revolving credit facility. In conjunction with the termination of these credit facilities, the Company expects to record a non-cash charge of approximately $4.0 million during the fourth quarter of 2007 to write-off capitalized financing costs. The maturity date of the new facility is December 21, 2012.

Paul Howes, President and Chief Executive Officer of Newpark, stated, "This new debt facility provides us with lower cost financing and increased financial flexibility for the execution of our strategic plan."

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 http://www.newpark.com.

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act that are based on management's current expectations, estimates and projections. All statements that address expectations or projections about the future, including statements about Newpark's strategy for growth, product development, market position, expected expenditures and financial results are forward-looking statements. Some of the forward-looking statements may be identified by words like "expects," "anticipates," "plans," "intends," "projects," "indicates," and similar expressions. These statements are not guarantees of future performance and involve a number of risks, uncertainties and assumptions. Many factors, including those discussed more fully elsewhere in this release and in documents filed with the Securities and Exchange Commission by Newpark, particularly its Annual Report on Form 10-K for the year ended December 31, 2006, as well as others, could cause results to differ materially from those stated. These factors include, but are not limited to, the investigation of the certain accounting matters by the Securities and Exchange Commission; changes in the laws, regulations, policies and economic conditions, including inflation, interest and foreign currency exchange rates, of countries in which Newpark does business; competitive pressures; successful integration of structural changes, including restructuring plans, acquisitions, divestitures and alliances; cost of raw materials, research and development of new products, including regulatory approval and market acceptance; and seasonality of sales of Newpark products. Newpark's filings with the Securities and Exchange Commission can be obtained at no charge at http://www.sec.gov, as well as through our website at http://www.newpark.com.

Contacts: James E. Braun, CFO
Newpark Resources, Inc.
281-362-6800

Ken Dennard, Managing Partner
Dennard Rupp Gray & Easterly, LLC
ksdennard@drg-e.com
713-529-6600

SOURCE Newpark Resources, Inc.