Probex to Hold Conference Call of Annual Shareholders Meeting On February 28, 2001

    DALLAS--Feb. 26, 2001--Probex Corp. (AMEX:PRB), an energy technology company, will hold its annual shareholders meeting at 10:30 A.M CST on Wednesday, February 28, 2001.
    Securities analysts and any other interested persons are invited to dial into the live teleconference of the meeting. In addition, the call will be webcast live at www.vcall.com. During the call, Probex management will conduct the business of the meeting, discuss recent progress toward commencement of construction of the Company's planned Wellsville, Ohio, reprocessing facility and provide an outlook for the upcoming quarter.
    Those who wish to participate in the conference call may telephone 888/335-6674 approximately 15 minutes before the 10:30 A.M. CST starting time. A digital replay will be available by telephone for 90 days commencing one hour after completion of the meeting at 800/345-5169 toll free in the United States or 402/220-1442 for international callers. A replay will also be posted on www.vcall.com for 90 days and on the Company's web site at www.probex.com.

    About Probex

    Probex is a Dallas-based energy technology company that has developed and patented its environmentally beneficial ProTerra(TM) lubricating oil technology for reprocessing, purifying and upgrading used motor oils. ProTerra has demonstrated unparalleled advantages in the highly economic creation of premium quality base oils capable of meeting new motor oil standards without creation of waste by-products. The goal of Probex is to become the world leader in reprocessing used lubricating oils into premium quality base lube oils through timely commercialization of ProTerra.

    Certain statements contained herein or made during the meeting may be considered "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These statements are based upon the belief of the Company's management, as well as assumptions made beyond information currently available to the Company's management, and may be, but not necessarily are, identified by such words as expect, plan, anticipate, target, and goal. Because such "forward-looking statements" are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from the Company's expectations include financial performance, conditions in the lubricating oil industry, the Company's ability to obtain financing for its anticipated acquisitions and plant development, market acceptance of the Company's products and technologies, changes in local, national or global economic conditions, and similar variables. Also refer to the cautionary statements contained in the most recent Forms 10-KSB and 10-QSB which may be obtained under "Investor Relations-SEC Filings" on the Company's web site or by writing or calling the Company at One Galleria Tower, 13355 Noel Rd., Suite 1200, Dallas, TX 75240; 972/788-4772.