Probex Director Sells Small Portion of Shares to Private Parties

    DALLAS--April 5, 2002--Probex Corp. (AMEX: PRB), an energy technology company, today said that Thomas G. Murray, a director, has worked with the Company to arrange three sales totaling approximately 160,000 shares of Probex common stock, or less than 10% of his Probex ownership interest. The sales are to an existing major shareholder and two current Probex directors.
    Probex Chairman, President and Chief Executive Officer Charles M. Rampacek explained that: "The sales arrangements were for personal economic reasons and allowed Mr. Murray, who is one of the original founders of the Company and a long time board member, to liquidate a small portion of his Probex stock position." Rampacek further explained that: "Mr. Murray's stock ownership has been accumulated from stock based compensation he has received as a founder, board member and former employee over the past 8 years."

    About Probex

    Probex is a Dallas-based energy technology company that specializes in the production of high quality lubricating base oils and associated products from collected spent lubricants. The Company's patented, environmentally beneficial ProTerra(R) technology 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 production of premium quality lubricating base oils and associated products from collected spent lubricants through the 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 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. 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.