Exhibit 12.1



EXHIBIT 12.1STATEMENT REGARDING COMPUTATION OF FINANCIAL RATIOS



(dollar amounts in millions except per share figures)



|                                                                         |  |                                                          |  |      |        |   |      |   |        |      |  |   |        |   |  |      |        |   |  |   |        |   
|------------------------------------------------------------------------ |  | -------------------------------------------------------- |  | ---- | ------ | - | ---- | - | ------ | ---- |  | - | ------ | - |  | ---- | ------ | - |  | - | ------ | --
|                                                                         |  |                                                          |  | 2009 |        |   | 2008 |   |        | 2007 |  |   | 2006   |   |  | 2005 |       
|1. NET INCOME/(LOSS) ATTRIBUTABLE TO INNOSPEC INC. AS A PERCENT OF SALES |  |                                                          |  |      |        |   |      |   |        |      |  |   |        |   |  |      |        |   |  |  
|A                                                                        |  | Net income/(loss) attributable to Innospec Inc.          |  | $    | 6.4    |   |      | $ | 12.5   |      |  | $ | 29.5   |   |  | $    | 11.4   |   |  | $ | (123.7 | ) 
|B                                                                        |  | Net sales                                                |  | $    | 598.5  |   |      | $ | 640.5  |      |  | $ | 602.4  |   |  | $    | 532.1  |   |  | $ | 564.8  |   
|A % of B                                                                 |  |                                                          |  |      | 1.1    | % |      |   | 2.0    | %    |  |   | 4.9    | % |  |      | 2.1    | % |  |   | (21.9  | )%
|                                                                         |  |                                                          |  |      |       
|2. EFFECTIVE INCOME TAX RATE AS A PERCENT                                |  |                                                          |  |      |        |   |      |   |        |      |  |   |        |   |  |      |        |   |  |  
|C                                                                        |  | Income taxes                                             |  | $    | 11.9   |   |      | $ | 6.3    |      |  | $ | 18.2   |   |  | $    | 20.4   |   |  | $ | 4.2    |   
|D                                                                        |  | Income/(loss) before income taxes                        |  | $    | 18.3   |   |      | $ | 18.9   |      |  | $ | 47.8   |   |  | $    | 31.9   |   |  | $ | (117.9 | ) 
|C % of D                                                                 |  |                                                          |  |      | 65.0   | % |      |   | 33.3   | %    |  |   | 38.1   | % |  |      | 63.9   | % |  |   | (3.6   | )%
|                                                                         |  |                                                          |  |      |       
|3. CURRENT RATIO                                                         |  |                                                          |  |      |        |   |      |   |        |      |  |   |        |   |  |      |        |   |  |  
|E                                                                        |  | Current assets                                           |  | $    | 282.9  |   |      | $ | 256.6  |      |  | $ | 256.1  |   |  | $    | 305.3  |   |  | $ | 239.8  |   
|F                                                                        |  | Current liabilities                                      |  | $    | 179.9  |   |      | $ | 188.1  |      |  | $ | 160.7  |   |  | $    | 142.9  |   |  | $ | 140.5  |   
|E % of F                                                                 |  |                                                          |  |      | 1.6    | % |      |   | 1.4    | %    |  |   | 1.6    | % |  |      | 2.1    | % |  |   | 1.7    | % 
|                                                                         |  |                                                          |  |      |       
|4. EARNINGS PER SHARE ATTRIBUTABLE TO INNOSPEC INC.                      |  |                                                          |  |      |        |   |      |   |        |      |  |   |        |   |  |      |        |   |  |  
|G                                                                        |  | Net income/(loss) attributable to Innospec Inc.          |  | $    | 6.4    |   |      | $ | 12.5   |      |  | $ | 29.5   |   |  | $    | 11.4   |   |  | $ | (123.7 | ) 
|H                                                                        |  | Basic shares outstanding                                 |  |      | 23,642 |   |      |   | 23,595 |      |  |   | 23,920 |   |  |      | 24,141 |   |  |   | 24,737 |   
|I                                                                        |  | Diluted shares outstanding                               |  |      | 24,714 |   |      |   | 24,391 |      |  |   | 24,838 |   |  |      | 25,339 |   |  |   | 24,737 |   
|G/H                                                                      |  | Basic earnings per share attributable to Innospec Inc.   |  | $    | 0.27   |   |      | $ | 0.53   |      |  | $ | 1.23   |   |  | $    | 0.47   |   |  | $ | (5.00  | ) 
|                                                                         |  |                                                          |  |      |        |   |      |   |        |      |  |   |        |   |  |      |        |   |  |   |        |   
|G/I                                                                      |  | Diluted earnings per share attributable to Innospec Inc. |  | $    | 0.26   |   |      | $ | 0.51   |      |  | $ | 1.19   |   |  | $    | 0.45   |   |  | $ | (5.00  | ) 
|                                                                         |  |                                                          |  |      |        |   |      |   |        |      |  |   |        |   |  |      |        |   |  |   |        |   

Shares in
thousands, earnings per share attributable to Innospec Inc. in dollars.