NL Industries, Inc.                          Contact:    Robert D. Hardy
16825 Northchase Drive, Suite 1200                       Chief Financial Officer
Houston, TX  77060                                       (281) 423-3332
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News Release
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                                                                    Exhibit 99.1
FOR IMMEDIATE RELEASE

                        NL REPORTS FOURTH QUARTER RESULTS

HOUSTON,  TEXAS -  January  31,  2003 -- NL  Industries,  Inc.  (NYSE:NL)  today
reported  net income for the fourth  quarter of 2002 of $.16 per  diluted  share
compared  with $.83 per diluted share in the fourth  quarter of 2001.  Excluding
the effect of the items summarized in the accompanying  table, net income in the
fourth quarter of 2001 was $.12 per diluted share.

Net income for  full-year  2002 was $.76 per  diluted  share  compared  with net
income for full-year  2001 of $2.44 per diluted  share.  Excluding the effect of
the items  summarized in the  accompanying  table, net income for full-year 2002
was $.64 per diluted  share  compared with $1.72 per diluted share for full-year
2001.

The Company's  titanium dioxide pigments ("TiO2") operating income in the fourth
quarter of 2002 was $20.1  million  compared  with  $35.9  million in the fourth
quarter of 2001.  Operating  income in the fourth quarter of 2001 included $16.6
million  of  business   interruption   insurance   proceeds  related  to  losses
(unallocated  period  costs and lost  margin)  incurred  in prior 2001  quarters
resulting from the previously reported fire at the Company's Leverkusen, Germany
plant in March  2001.  Excluding  this  amount,  operating  income in the fourth
quarter of 2002  increased 4% compared with the fourth quarter of 2001 primarily
due to higher sales and  production  volumes  partially  offset by higher costs.
Compared with the third quarter of 2002,  operating income in the fourth quarter
of  2002  decreased  $9.5  million  or 32%  primarily  due to  lower  sales  and
production volumes,  and higher costs partially offset by higher average selling
prices.

Operating  income for  full-year  2002 was $96.5  million  compared  with $169.2
million for full-year  2001 due to 9% lower average  selling  prices,  partially
offset by 13% higher sales  volume and 7% higher  production  volume.  Operating
income for  full-year  2001  included  $27.3  million of  business  interruption
insurance  proceeds  related  to  the  Leverkusen  fire.  The  lower  sales  and
production  volumes  in 2001 were due in part to the  effect  of the  Leverkusen
fire.

The Company's  average selling price in billing  currencies  (which excludes the
effects of foreign currency  translation)  during the fourth quarter of 2002 was
comparable  to the  fourth  quarter  of 2001 and was 2%  higher  than the  third
quarter of 2002.  Compared  with the third  quarter of 2002,  selling  prices in
billing currencies  increased in all major markets. The average selling price in
billing currencies in December 2002 was 1% higher than the average selling price
for the fourth quarter.

The  Company's  fourth  quarter 2002  average  selling  price  expressed in U.S.
dollars (computed using actual foreign currency exchange rates prevailing during
the  respective  periods)  was 4% higher than the fourth  quarter of 2001 and 2%
higher than the third quarter of 2002.  The average  selling price  expressed in
U.S.  dollars in December 2002 was 1% higher than the average  selling price for
the fourth  quarter.  The average  selling price  expressed in U.S.  dollars for
full-year 2002 was 7% lower than full-year 2001.

The  Company's  fourth  quarter 2002 sales volume  increased 12% from the fourth
quarter of 2001 and decreased  13% from the third quarter of 2002.  The increase


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<PAGE>

from the  comparable  prior year period was due in part to lost sales  volume in
2001 as a result of the Leverkusen fire.  Finished goods inventory levels at the
end  of  the  fourth  quarter  increased  6%  from  September  2002  levels  and
represented approximately two months of sales.

The  Company's  fourth  quarter 2002  production  volume was 11% higher than the
fourth  quarter  of 2001 and  decreased  8% from the third  quarter of 2002 with
operating  rates at 90% in the fourth  quarter of 2002  compared with 83% in the
fourth  quarter of 2001.  Decreased  production  volume in the fourth quarter of
2002 was primarily due to maintenance stops.  Full-year  operating rates were at
96% in 2002 compared with 91% in 2001. The full-year 2001 lower  operating rates
were partly due to the effect of the Leverkusen fire.

J. Landis Martin,  President and Chief Executive Officer,  stated,  "This year's
sales volume of 455,000  metric tons was a Company record and was supported by a
Company record 442,000 metric tons of production.  TiO2 prices continue to trend
upward and we, and other major TiO2  producers,  have  recently  announced a new
round of price increases. We started 2003 with higher selling prices as compared
to last year,  with prices  trending  upward,  not  downward as they were at the
start of 2002.  We expect  full-year  2003 sales volume to be comparable to last
year and full-year 2003 average selling prices to be higher than 2002.  Based on
these  assumptions,  we expect to report higher  operating income in 2003 versus
2002.  However,  it is  difficult  to  predict  full-year  2003  results  due to
uncertainties surrounding the economy, including the potential for international
conflict."

Securities  earnings for the fourth  quarter and  full-year  2002  decreased $.4
million and $2.2 million,  respectively,  from the  comparable  periods in 2001,
primarily due to lower average interest yields on invested funds in 2002.

Corporate  income  for the  fourth  quarter  of  2002  included  a $2.9  million
litigation  settlement  gain with former  insurance  carrier  groups.  Corporate
income for full-year  2002  decreased $7.0 million from full-year 2001 primarily
due to lower litigation settlement gains.

During the fourth  quarter of 2002,  the Company  commenced  accounting  for its
stock options using the variable accounting method, which requires the intrinsic
value of the stock  option to be accrued as an expense.  The Company  recognized
$3.2 million of  compensation  expense in the fourth  quarter of 2002 related to
its stock  options,  of which $1.6 million was charged to  operating  income and
$1.6 million was charged to general corporate expenses.

Corporate expense for the fourth quarter of 2002 increased $1.9 million compared
with the fourth quarter of 2001 primarily due to higher legal expenses and stock
option compensation expense,  partially offset by lower environmental  expenses.
Compared to the third quarter of 2002,  corporate  expense in the fourth quarter
of 2002  decreased $.9 million  primarily  due to lower legal and  environmental
expenses partially offset by stock option compensation  expense.  Full-year 2002
corporate  expense  increased $11.9 million from full-year 2001 primarily due to
higher legal and stock option compensation expenses.

Interest  expense in the fourth  quarter of 2002  increased $.8 million from the
fourth  quarter of 2001  primarily  due to higher  levels of  outstanding  debt,
partially  offset by lower interest rates.  Interest  expense for full-year 2002
increased   $2.2  million  from  full-year  2001  primarily  due  to  additional
second-quarter  2002 interest  expense  related to the early  extinguishment  of
debt.

The Company's income tax provision in the fourth quarter of 2002 included a $2.3
million  deferred  income tax benefit related to the enactment of certain income
tax law changes in Belgium.

Minority   interest   primarily   related   to  the   Company's   majority-owned
environmental management subsidiary.

The  Company's  net debt at  December  31,  2002 was $195.5  million,  up $130.9
million  from  September  30,  2002.  The increase in net debt during the fourth
quarter of 2002 primarily related to the $2.50 per share additional  shareholder
dividend totaling $119.2 million. Net debt at December 31, 2002 was comprised of
total  debt  of  $325.9  million  less  cash,  restricted  cash  and  restricted
marketable debt securities of $130.4 million.


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<PAGE>


A conference call regarding NL's earnings  announcement is scheduled for January
31, 2003 at 11:00 a.m. (EST).  Mr. Martin will host the call.  Participants  can
access  the  call by  dialing  (888)  273-9885  (domestic)  and  (612)  332-0820
(international).  The title of the call is NL  Earnings.  A taped  replay of the
call will be available at 2:30 p.m. (EST) the day of the call through 11:59 p.m.
(EST) on  February  7,  2003 by  calling  (800)  475-6701  (domestic)  and (320)
365-3844  (international).  The access  code for the replay is 671880.  The call
will also be  broadcast  live on the  Internet at the  Corporate  Communications
Broadcast Network ("CCBN") website at http://www.companyboardroom.com.  In order
to  listen  to the  call,  your  computer  must  have  Windows  Media  Player or
RealPlayer  installed,  which can be downloaded  prior to the call from the CCBN
website.  An online  replay will be available  approximately  one hour after the
call.

NL  Industries,  Inc. is a major  international  producer  of  titanium  dioxide
pigments.

The  statements  in this release (and  statements  made in the  conference  call
referred  to  above)  relating  to  matters  that are not  historical  facts are
forward-looking  statements that represent  management's beliefs and assumptions
based on currently  available  information.  Forward-looking  statements  can be
identified by the use of words such as  "believes,"  "intends,"  "may,"  "will,"
"should,"  "could,"  "anticipates,"  "expects," or comparable  terminology or by
discussions  of  strategy or trends.  Although  the  Company  believes  that the
expectations  reflected in such  forward-looking  statements are reasonable,  it
cannot give any  assurances  that these  expectations  will prove to be correct.
Such statements by their nature involve risks and uncertainties,  including, but
not  limited  to, the  cyclicality  of the  titanium  dioxide  industry,  global
economic  and  political  conditions,  changes  in global  productive  capacity,
changes in customer  inventory  levels,  changes in product pricing,  changes in
product  costing,  changes  in  foreign  currency  exchange  rates,  competitive
technology positions,  operating interruptions  (including,  but not limited to,
labor disputes, leaks, fires, explosions,  unscheduled downtime,  transportation
interruptions, war and terrorist activities), the ultimate resolution of pending
or possible future lead pigment litigation and legislative  developments related
to the lead paint litigation,  the outcome of other litigation,  and other risks
and uncertainties  detailed in the Company's  Securities and Exchange Commission
filings.  Should one or more of these risks  materialize (or the consequences of
such  a  development  worsen),  or  should  the  underlying   assumptions  prove
incorrect,  actual  results  could differ  materially  from those  forecasted or
expected.  The Company  disclaims any intention or obligation to update publicly
or revise such statements, whether as a result of new information, future events
or otherwise.  The Company's  2002 results are subject to completion of an audit
and the filing of its 2002 Annual Report on Form 10-K.


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<PAGE>

                               NL INDUSTRIES, INC.
                   CONDENSED CONSOLIDATED STATEMENTS OF INCOME
               (In millions, except per share and metric ton data)
                                   (Unaudited)
<TABLE>
<CAPTION>


                                                       Three months ended       Years ended
                                                          December 31,          December 31,
                                                      --------------------  --------------------
                                                         2002       2001       2002       2001
                                                      ---------  ---------  ---------  ---------


<S>                                                   <C>        <C>        <C>        <C>
Revenues and other income (expense):
    Net sales .....................................   $   211.9  $   182.0  $   875.2  $   835.1
    Other income (expense), excluding corporate ...         (.5)       9.1         .8       10.8
                                                      ---------  ---------  ---------  ---------

                                                          211.4      191.1      876.0      845.9

Cost of sales .....................................       161.8      130.9      671.8      578.1
Selling, general and administrative, excluding
  corporate .......................................        29.5       24.3      107.7       98.6
                                                      ---------  ---------  ---------  ---------

        Operating income ..........................        20.1       35.9       96.5      169.2

Insurance recoveries, net .........................      --           11.6     --           17.5
                                                      ---------  ---------  ---------  ---------

        Income before corporate items, income taxes
          and minority interest ...................        20.1       47.5       96.5      186.7

Corporate income (expense):
    Securities earnings ...........................         1.4        1.8        5.6        7.8
    Litigation settlement gains, net and other
      income ......................................         3.9        2.2        9.3       16.3
    Currency transaction gains ....................      --         --            6.3     --
    Expenses ......................................        (9.7)      (7.8)     (37.8)     (25.9)
    Interest expense ..............................        (7.6)      (6.8)     (29.8)     (27.6)
                                                      ---------  ---------  ---------  ---------

        Income before income taxes and minority
          interest ................................         8.1       36.9       50.1      157.3

Income tax benefit (expense) ......................         (.3)       4.0      (12.0)     (34.9)
                                                      ---------  ---------  ---------  ---------

        Income before minority interest ...........         7.8       40.9       38.1      122.4

Minority interest .................................          .2     --            1.3        1.0
                                                      ---------  ---------  ---------  ---------

        Net income ................................   $     7.6  $    40.9  $    36.8  $   121.4
                                                      =========  =========  =========  =========

Net income per share:
    Basic .........................................   $     .16  $     .83  $     .76  $    2.44
                                                      =========  =========  =========  =========
    Diluted .......................................   $     .16  $     .83  $     .76  $    2.44
                                                      =========  =========  =========  =========

Weighted average shares used in the
  calculation of net income per share:
    Basic shares ..................................        47.8       49.3       48.5      49.7
    Dilutive impact of stock options ..............          .1     --             .1        .2
                                                      =========  =========  =========  =========
    Diluted shares ................................        47.9       49.3       48.6      49.9
                                                      =========  =========  =========  =========

Metric tons in thousands:
    Sales volume ..................................         102         91        455        402
    Production volume .............................         107         97        442        412

</TABLE>

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<PAGE>

                               NL INDUSTRIES, INC.

                   COMPONENTS OF DILUTED NET INCOME PER SHARE

                                   (Unaudited)


<TABLE>
<CAPTION>

                                                   Three months ended         Years ended
                                                      December 31,           December 31,
                                                  ----------- ---------- ----------------------
                                                     2002       2001        2002       2001
                                                  ----------- ---------- ----------------------


<S>                                                <C>        <C>      <C>         <C>
Litigation settlement gains, net (1) ...........   $   .04    $ --     $   .06     $    .14

Stock option compensation expense (2) ..........      (.04)     --        (.04)        --

Early extinguishment of debt (3) ...............    --          --        (.03)        --

Foreign currency transaction gain (4) ..........    --          --         .13         --

Insurance gain (5) .............................    --          .14        --           .22

Business interruption insurance proceeds
  attributable to prior 2001 quarters (6) ......    --          .21        --           --

Deferred income tax valuation allowance
  adjustment (7) ...............................    --          .36        --           .36

Reported net income per share excluding above
  items ........................................       .16      .12        .64         1.72
                                                   -------    -----    -------     --------


                                                   $   .16    $ .83    $   .76     $   2.44
                                                   =======    =====    =======     ========

</TABLE>

(1)     Fourth  quarter  2002  and  previously-reported  litigation  settlements
        reached with certain principal former insurance carrier groups.

(2)     Compensation expense recognized during the fourth quarter of 2002 due to
        commencing to account for stock  options  using the variable  accounting
        method.

(3)     Previously-reported  additional interest on early  extinguishment of the
        Company's 11.75% Senior Secured Notes.

(4)     Previously-reported  foreign  currency  transaction  gain related to the
        extinguishment of certain intercompany indebtedness.

(5)     Previously-reported  insurance recoveries for property damage related to
        the Leverkusen fire.

(6)     Previously-reported  receipt of business interruption insurance proceeds
        in the  fourth  quarter  of 2001 that were  attributable  to prior  2001
        quarters.

(7)     Previously-reported  net income tax  benefit  related  principally  to a
        change in estimate of the Company's  ability to utilize  certain  German
        tax attributes.


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