Probex to Hold Conference Call for Third Fiscal Quarter

    DALLAS--Aug. 6, 2002--Probex Corp. (AMEX:PRB), a technology-based renewable resource company, will hold a quarterly conference call to discuss results for the third fiscal quarter of 2002 at 9:30 A.M CDST on Thursday, August 8, 2002. Securities analysts and any other interested persons are invited to dial into the teleconference. In addition, the call will be web cast by CCBN and can be accessed at PRB's web site at www.probex.com. During the presentation, Probex management will discuss recent events and provide an outlook for the upcoming quarter.

CONFERENCE CALL/WEB CAST: ------------------------ Date: Thursday August 8, 2002 Time: 9:30 a.m. CDST Toll Free U.S. Phone #: 888-655-9181 (call 10 minutes ahead of start time) International Phone #: 1-630-395-0054 (call 10 minutes ahead of start time) PASS CODE: Les Van Dyke Web Cast: www.probex.com -- click on About Probex; What's New; Conference Calls

DIGITAL REPLAY: -------------- Available for 90 days, beginning 1 hour after call Toll Free U.S. Phone #: 888-568-0047 International Phone #: 402-530-7755 Web Site: www.probex.com -- click on About Probex; What's New; Conference Calls

    About Probex

    Probex is a technology-based renewable resource company that specializes in the production of high quality automotive lubricating base oils and associated products from collected spent lubricating oils. The Company's patented, environmentally beneficial ProTerra(R) technology has demonstrated unparalleled advantages in the highly economic creation of premium quality lubricating base oils capable of meeting new lubricating 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 timely commercialization of its ProTerra technology. For more information about Probex, visit the company's web site at: www.probex.com.