Probex Arranges Interim Financing

    DALLAS--Sept. 11, 2001--Probex Corp. (AMEX:PRB), an energy technology company specializing in environmental services, today said that it has recently secured interim financing totaling $4.1 million.
    Probex Chairman, President and CEO Charles M. Rampacek noted that, "This interim financing, from a combination of investors, including Bechtel Corporation affiliate United Infrastructure Company, LLC, and investment advisory clients of Zesiger Capital Group, LLC, is a continuing affirmation of the strength of our technology, our management team and our business plan." Rampacek added that, "We are continuing to make good progress on all of the activities necessary to obtain project financing for our planned Wellsville used oil reprocessing facility."
    Probex is a Dallas-based energy technology company specializing in environmental services 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 a world leader in the collection and reprocessing of used lubricating oils into premium quality base lube oils through timely commercialization of its ProTerra technology. For more information about Probex, visit the company's web site at: www.probex.com.

    Certain statements contained herein 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 believe, 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.