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Innospec Increases Its Offer to Acquire TPC Group

Innospec Increases Its Offer to Acquire TPC Group

LITTLETON, Colo., Nov. 15, 2012 (GLOBE NEWSWIRE) -- Innospec Inc.
(Nasdaq:IOSP) today announced that it has increased its non-binding proposal
to acquire all outstanding shares of common stock of TPC Group (Nasdaq:TPCG)
at an all-cash purchase price of $47.50 per share. The offer continues to be
supported by investment funds affiliated with Blackstone Capital Partners VI,
L.P. (Blackstone), which will provide equity financing for the transaction.

Patrick Williams, President and CEO of Innospec said, "We were disappointed to
have been denied sufficient access to complete our due diligence, and we fully
expect this revised offer to allow this to happen. Our diligence so far has
confirmed our initial findings that TPC is a good strategic fit with Innospec.
Our proposal continues to be subject to certain conditions, including
completion of our due diligence and agreeing to definitive documentation."

About Innospec Inc.

Innospec Inc. is an international specialty chemicals company with
approximately 850 employees in 20 countries. Innospec manufactures and
supplies a wide range of specialty chemicals to markets in the Americas,
Europe, the Middle East, Africa and Asia-Pacific. Innospec's Fuel Specialties
business specializes in manufacturing and supplying the fuel additives that
help improve fuel efficiency, boost engine performance and reduce harmful
emissions. Innospec's Performance Chemicals business provides effective
technology-based solutions for our customers' processes or products focused in
the Personal Care; Household, Industrial & Institutional; and Fragrance
Ingredients markets. Innospec's Octane Additives business is the world's only
producer of tetra ethyl lead.

Forward-Looking Statements

This press release contains certain "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995. All
statements other than statements of historical facts included or incorporated
herein may constitute forward-looking statements. Such forward-looking
statements include statements (covered by words like "expects," "anticipates,"
"may," "believes" or similar words or expressions), for example, which relate
to operating performance, events or developments that we expect or anticipate
will or may occur in the future (including, without limitation, any of the
Company's guidance in respect of sales, gross margins, pension liabilities and
charges, net income, growth potential and other measures of financial
performance). Although forward-looking statements are believed by management
to be reasonable when made, they are subject to certain risks, uncertainties
and assumptions, and our actual performance or results may differ materially
from these forward-looking statements. Additional information regarding
risks, uncertainties and assumptions relating to the Company and affecting our
business operations and prospects are described in the Company's Annual Report
on Form 10-K for the year ended December 31, 2011, and other reports filed
with the U.S. Securities and Exchange Commission. You are urged to review our
discussion of risks and uncertainties that could cause actual results to
differ from forward-looking statements under the heading "Risk Factors." The
Company undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise, except as required by law.

For more information about Innospec, please visit our website at
www.innospecinc.com.

CONTACT: Brian Watt
         Innospec Inc.
         +44-151-356-6241
         Brian.Watt@innospecinc.com
        
         Robert D. Ferris
         RF|Binder Partners
         +1-212-994-7505
         robert.ferris@rfbinder.com
        
         Dan Scorpio
         RF|Binder Partners
         +1-212-994-7609
         Dan.scorpio@rfbinder.com
 
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