Cambex Corporation Announces Fiscal 2002 Second Quarter Results.

Business/Technology Editors

WALTHAM, Mass.--(BUSINESS WIRE)--Aug. 20, 2002

Cambex Corporation (OTCBB:CBEX), a leading supplier of memory and Fibre Channel connectivity products, today reported financial results for its fiscal 2002 second quarter ended June 30, 2002.

Consolidated revenues for the second quarter of fiscal 2002 were $5,845,369 compared to $466,978 for the second quarter of fiscal 2001, an increase of 1151%.

The Company reported a net loss for the second quarter of 2002 of $723,800 compared to a net loss of $458,803 for the second quarter of 2001. This resulted in a net loss per share of $0.05 for the quarter ended June 30, 2002 compared to a net loss per share of $0.05 for the same quarter last year.

"Our revenues increased over ten-fold due to the acquisition of Super PC Memory, Inc.," stated Joseph F. Kruy, Chairman and CEO of Cambex. "The ongoing integration of Super PC Memory should result in greater cost efficiencies and savings as we strive to achieve profitability in the fourth quarter despite the continued slowdown in the computer market," said Kruy.

About Cambex Corporation

Cambex Corporation, headquartered in Waltham, MA has been supplying high-performance, high-availability memory and storage solutions for more than 30 years. The company's products include memory for enterprise servers, workstations, and PCs as well as Fibre Channel infrastructure products for building storage area networks. Cambex Corporation can be reached at 781-890-6000 or on the World Wide Web at www.cambex.com. Super PC Memory, Inc. can be reached at 800-752-1109 or on the World Wide Web at www.superpc.com.

Forward-looking statements are made in this release pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that all forward looking statements are subject to risks and uncertainties, including, without limitation, the timing of new announcements or product introductions by the Company and its competitors, the hiring and retention of key employees, competitive pricing pressures, dependence on third parties for components and products, general economic conditions in the United States and international markets, and the risk factors detailed from time to time in the Company's periodic reports and registration statements filed with the Securities and Exchange Commission.

                  CAMBEX CORPORATION AND SUBSIDIARIES
                 CONSOLIDATED STATEMENTS OF OPERATIONS
      FOR THE THREE MONTHS ENDED June 30, 2002 AND June 30, 2001
                              (UNAUDITED)

                                            June 30,        June 30,
                                              2002            2001

REVENUES                                 $  5,845,369    $    466,978

COST OF SALES                               4,658,934         225,624

Gross profit                             $  1,186,435    $    241,354

OPERATING EXPENSES:
   Research and development              $    251,770    $    277,130
   Selling                                  1,114,372         133,166
   General and administrative                 372,944         152,861
         Total operating expenses        $  1,739,086    $    563,157

OPERATING INCOME (LOSS)                  $   (552,651)   $   (321,803)

OTHER INCOME (EXPENSE):
    Interest expense                     $   (171,149)   $   (137,000)

INCOME (LOSS) BEFORE INCOME TAXES
  AND EXTRAORDINARY ITEMS                $   (723,800)   $   (458,803)
   Provision for income taxes                    --              --

NET INCOME (LOSS)                        $   (723,800)   $   (458,803)

INCOME (LOSS) PER COMMON SHARE           $      (0.05)   $      (0.05)

Weighted Average Common Shares
 Outstanding                               13,500,000       9,900,000