FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person * NAPLES RONALD J   2. Issuer Name and Ticker or Trading Symbol QUAKER CHEMICAL CORP [KWR] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) Chairman and CEO (Last) (First) (Middle) QUAKER CHEMICAL CORPORATION, ONE QUAKER PARK, 901 HECTOR STREET 3. Date of Earliest Transaction (Month/Day/Year) 05/28/2008 (Street) CONSHOHOCKEN, PA 19428-0809 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 05/28/2008   M   44,236 A $ 26.05 461,719 D   Common Stock 05/28/2008   S   44,236 D $ 30.54 417,483 D   Common Stock 05/28/2008   M   5,005 A $ 19.98 422,488 D   Common Stock 05/28/2008   F   3,284 D $ 30.45 419,204 D   Common Stock 05/28/2008   M   4,323 A $ 23.13 423,527 D   Common Stock 05/28/2008   F   3,283 D $ 30.45 420,244 D   Common Stock 05/29/2008   M   18,726 A $ 26.05 438,970 D   Common Stock 05/29/2008   S   18,726 D $ 31 420,244 D   Common Stock               1,062 I By 401(k) Common Stock               1,000 I By Charitable Foundation Common Stock               500 I By Family Trust

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Employee Stock Option (right to buy)

$ 26.05

05/28/2008

M

44,236

(1)

04/15/2011

Common Stock

44,236

$ 0

22,564

D

Employee Stock Option (right to buy)

$ 19.98

05/28/2008

M

5,005

(2)

03/06/2013

Common Stock

5,005

$ 0

64,995

D

Employee Stock Option (right to buy)

$ 23.13

05/28/2008

M

4,323

(3)

02/22/2014

Common Stock

4,323

$ 0

97,442

D

Employee Stock Option (right to buy)

$ 26.05

05/29/2008

M

18,726

(1)

04/15/2011

Common Stock

18,726

$ 0

3,838

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
NAPLES RONALD J QUAKER CHEMICAL CORPORATION ONE QUAKER PARK, 901 HECTOR STREET CONSHOHOCKEN, PA 19428-0809	X		Chairman and CEO

Signatures

Irene M. Kisleiko, Attorney-in-Fact for Ronald J. Naples		05/30/2008
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	The option vested in three annual installments: 50,100 on April 15, 2005; 10,020 on April 15 2006; and 6,680 on April 15, 2007.
(2)	The option vests in three annual installments: 23,333 on March 6, 2007; 23,333 on March 6, 2008; and 23,334 on March 6, 2009.
(3)	The option vests in three annual installments: 33,921 on February 22, 2008; 33,922 on February 22, 2009; and 33,922 on February 22, 2010.

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