Summary of NEWPARK RESOURCES INC

Item 1.02 Termination of a Material Definitive Agreement.

Newpark Resources, Inc. ("Newpark") and CCS Inc. ("CCS") have mutually agreed effective November 21, 2008 to terminate the Membership Interests Purchase Agreement dated April 16, 2008, as amended (the "Purchase Agreement") among Newpark, Newpark Drilling Fluids LLC, Newpark Texas, L.L.C., CCS and CCS Energy Services LLC pursuant to which CCS would have acquired Newpark's United States environmental services business. The Purchase Agreement is described in more detail in the Current Report on Form 8-K filed by Newpark with the Securities and Exchange Commission on April 16, 2008.

As previously disclosed, the Federal Trade Commission (the "FTC") filed suit seeking a temporary restraining order and preliminary injunction to prevent Newpark and CCS from completing the transaction. The FTC also filed an Administrative Complaint and scheduled hearings for January of 2009. CCS has advised Newpark that CCS no longer desired to pursue the matter in court and on November 20, 2008, delivered a notice seeking termination of the Purchase Agreement. Newpark and CCS have mutually agreed to a termination of the Purchase Agreement.

Newpark is not expected to incur any early termination penalties as a result of the termination of the Purchase Agreement.

A copy of Newpark's press release announcing the termination of the Purchase Agreement is attached hereto as Exhibit 99.1 and incorporated by reference.