Ownership Submission
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 *
MEISTER MARK W
  2. Issuer Name and Ticker or Trading Symbol
LUBRIZOL CORP [LZ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
VP & Chief Ethics Officer
(Last)
(First)
(Middle)
29400 LAKELAND BLVD
3. Date of Earliest Transaction (Month/Day/Year)
03/02/2007
(Street)

WICKLIFFE, OH 44092
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 Shares 03/02/2007   M   6,100 A $ 30.365 20,981.8182 (1) D  
Common Shares 03/02/2007   S   6,100 D $ 51.4005 14,881.8182 (2) D  
Common Shares 03/02/2007   M   6,000 A $ 37.7813 20,881.8182 (1) D  
Common Shares 03/02/2007   S   6,000 D $ 51.4493 14,881.8182 (2) D  
Common Shares 03/02/2007   A   835.285 A $ 51.24 15,717.1032 (1) D  
Common Shares               7,821.5919 (3) I 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) $ 30.365 03/02/2007   M     6,100 03/26/2001(4) 03/26/2011 Common Shares 6,100 $ 0 400 D  
Employee Stock Option (Right to Buy) $ 37.7813 03/02/2007   M     6,000 03/23/1998(4) 03/23/2008 Common Shares 6,000 $ 0 0 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
MEISTER MARK W
29400 LAKELAND BLVD
WICKLIFFE, OH 44092
      VP & Chief Ethics Officer  

Signatures

 /s/Mark W. Meister by Andrea A. Zwegat   03/06/2007
**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) Reflects acquisitions pursuant to a dividend reinvestment plan exempt under Rule 16a-11.
(2) The sale reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on February 27, 2006.
(3) Reflects end-of-period holdings resulting from acquisitions pursuant to a qualified plan, which are exempt uner Rule 16b-3(c).
(4) Options vest 50% one year after grant date, 75% two years after grant date and 100% three years after grant date.

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