Champion Parts Reports Continued Profitability For Third Quarter and Nine Month Periods

HOPE, Ark., Nov. 13, 2003 -- Champion Parts, Inc. (BULLETIN BOARD: CREB) today reported higher net income for the third quarter ended Sept. 28, 2003 of $12,000, or $0.00 per share, compared to a net loss of $98,000, or $0.03 per share for the same period in 2002. Net sales were $5,000,000, against $5,176,000 for the comparable period in 2002.

For the nine months of 2003, the company reported higher net income of $909,000, or $0.25 per share, compared to $16,000, or $0.00 per share for the same period in 2002. Net sales were $18,169,000, compared to $19,172,000 for the same period in 2002.

"The third quarter, traditionally a seasonably weaker quarter," said Jerry A. Bragiel, president and chief executive officer, "provided the company with a moderate operating income of $102,000, compared to $20,000 in the comparable 2002 period and a bottom line profit of $12,000 against a $98,000 loss, reflecting a positive swing of $110,000. We are pleased with the improvements in profitability that were achieved, despite slightly lower sales."

The company said its recently completed plant consolidation program has realized the desired results of reduced costs and improved operating efficiencies. In future months, additional benefits may be derived from the sale of its closed Pennsylvania-owned facility.

The chief executive noted that "positive results" were recorded despite a continuing decline of carburetor net sales coupled with lower demand for some of the company's other products in the traditional heavy duty, agriculture and domestic automotive markets.

The chief executive added he "was pleased with the strong sales of air- conditioning compressors in a soft market, and the increased sales of constant velocity axle products."

The company said it plans to expand its line of air conditioning products for the upcoming season, which is expected to significantly increase sales of that product category. It also said it is pursuing other new products and markets for existing products, which include internal new product development as well as acquisition opportunities.

Champion Parts remanufactures fuel system components, air conditioning compressors, front wheel drive assemblies, and other underhood electrical and mechanical products for the passenger car and light truck, agricultural, heavy-duty truck and marine parts aftermarket.

Certain forward-looking statements in this press release involve various risks and uncertainties, including, without limitation, those statements relating to future sales. These statements are forward-looking statements within the meaning of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbor created thereby. Although the company believes that its forward-looking statements are reasonable, there are no assurances that such statements will prove to be correct. Attention is directed to the discussion of risks and uncertainties contained in the Factors Which May Affect Future Results section of the company's Form 10-K and other reports filed with the Securities and Exchange Commission.

                  CHAMPION PARTS, INC. AND SUBSIDIARIES
               CONSOLIDATED STATEMENT OF INCOME (CONDENSED)
                          FOR THE PERIODS ENDED
                               (Unaudited)

                  Nine Months   Nine Months    Three Months    Three Months
                Sept. 28, 2003 Sept. 29, 2002  Sept. 28, 2003 Sept. 29, 2002

  Net Sales          $18,169,000    $19,172,000    $5,000,000    $5,176,000
    Costs and Expenses:
      Cost of products
       sold           14,903,000     16,290,000     4,198,000     4,503,000
      Selling,
       distribution &
       administrative  2,052,000      2,086,000       700,000       648,000
      Relocation and
       restructuring costs     0        404,000             0         5,000
    Total costs and
     expenses         16,955,000     18,780,000     4,898,000     5,156,000

  Operating income     1,214,000        392,000       102,000        20,000

    Non-operating
     (income)/expense:
      Interest expense   349,000        412,000       106,000       130,000
      Other non-operating
       (income)          (44,000)       (45,000)      (16,000)      (17,000)
    Total non-operating
     expense             305,000        367,000        90,000       113,000

  Net income before
   income taxes          909,000         25,000        12,000       (93,000)

    Income taxes               0          9,000             0         5,000

  Net income            $909,000        $16,000       $12,000      $(98,000)

  Weighted Average Common
   Shares Outstanding at
   September 28, 2003:
            Basic      3,655,266      3,655,266     3,655,266     3,655,266
            Diluted    3,689,423      3,655,266     3,733,647     3,680,380

  Earnings Per Common
   Share - Basic:
    Net income per
     common share -
     basic                 $0.25          $0.00          $0.00       $(0.03)

  Earnings Per Common
   Share - Diluted:
    Net income per
     common share -
     diluted               $0.25          $0.00          $0.00       $(0.03)