Daniel P. Gorey Elected to Board of Directors; Also Will Continue to Serve as Chief Financial Officer of Quixote Corporation

    CHICAGO--Aug. 22, 2001--Quixote Corporation announced today that its Chief Financial Officer and Treasurer, Daniel P. Gorey, 49, has been elected to its Board of Directors. Mr. Gorey will fill the vacancy created by the death of Philip E. Rollhaus, Jr., the Company's founder and former Chairman who died earlier this year following a long struggle with cancer. Including Mr. Gorey, the Board will remain at six members.
    Mr. Gorey, a certified public accountant, joined the Company as Manager of Corporate Accounting in 1985. During his 16-year tenure at Quixote, he was promoted to Controller in 1987, made a Vice President in 1994 and was elected Chief Financial Officer and Treasurer in 1996. Prior to joining the Company, Mr. Gorey was employed at Coopers & Lybrand, now a part of PricewaterhouseCoopers LLC, a multinational consulting firm.
    Leslie J. Jezuit, Chairman and Chief Executive Officer, stated, "We are extremely pleased to welcome Dan to our Board of Directors and look forward to his valuable insights. His years of experience and understanding of our industry have made him an important contributor in the development of the Company's successful strategy. In this new role, he will join me and the other members of our Board in strengthening Quixote's position as the leading provider of transportation safety products."
    Quixote Corporation, (www.quixotecorp.com), through its wholly-owned subsidiary, Quixote Transportation Safety, Inc., is the world's leading manufacturer of energy-absorbing highway crash cushions, electronic wireless measuring and sensing devices, computerized highway advisory radio transmitting systems, electronic variable message signs, flexible post delineators and other highway safety products.

    Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Except for historical information contained herein, the matters set forth in this news release are forward-looking statements. The forward-looking statements set forth above involve a number of risks and uncertainties that could cause actual results to differ materially from any such statement, including the risks and uncertainties discussed in the Company's Annual Report on Form 10-K for its fiscal year ended June 30, 2000, under the caption "Forward-Looking Statements" in Management's Discussion and Analysis of Financial Condition and Results of Operations, which discussion is incorporated herein by this reference.