PRAB Reports Third Quarter Results

    KALAMAZOO, Mich.--Sept. 13, 2002--PRAB, Inc. (OTC:PRAB) reports third quarter sales of $3,723,000 and earnings of $107,000 for the period ended July 31, 2002. This compares with sales of $4,429,000 and earnings of $212,000 in the same period a year ago. Nine month sales of $9,619,000 and earnings of $204,000 for the current year compares with sales of $11,224,000 and earnings of $222,000 for the same period a year ago.
    The order backlog of $2,573,000 at the end of the third quarter ended July 31, 2002 compares with $3,096,000 at the end of the previous quarter ended April 30, 2002 and $3,878,000 at the end of the third quarter a year ago.
    Prab, Inc., operating under two divisions, Prab Conveyors and Hapman Conveyors, designs and manufactures conveyors, metal scrap reclamation systems, and bulk material handling equipment and systems for a wide variety of industrial markets throughout the world.

                              PRAB, INC.
                     Summary of Financial Results
            (in thousands of dollars except per share data)

                       Third Quarter Ended          Nine Months Ended
                             July 31,                    July 31,
                          2002      2001              2002      2001
                        -------   -------           -------   -------
Sales                   $ 3,723   $ 4,429           $ 9,619   $11,224

Net Income                  107       212               204       222

Per Share               $  0.06   $  0.12           $  0.12   $  0.12