Probex Names David McNiel Senior Vice President, Operations.

Business Editors

DALLAS--(BUSINESS WIRE)--Sept. 5, 2000

Probex Corp. (AMEX:PRB), an energy technology company, announced today that David J. McNiel, 47, has joined the company as senior vice-president of operations, effective September 1. For the past four years, Mr. McNiel has served as vice president of refining of Lyondell-Citgo Refining, LP, a joint venture of Citgo Petroleum Corporation (www.citgo.com) and Lyondell Chemical Company (NYSE:LYO); (www.lyondell.com).

From 1990 to 1996, McNiel held various operations and technical executive positions with Tenneco Inc.'s natural gas pipeline subsidiary. He also held operations positions at Mobil Oil Company for two years, and spent 11 years at Tenneco Inc.'s refining and marketing subsidiary in a variety of management and engineering assignments.

McNiel holds a bachelor's degree in chemical engineering from Rice University and a master's degree in business administration from Tulane University.

Charlie Rampacek, president and CEO of Probex, said, "I have worked closely with Dave McNiel for 18 years in a variety of challenging assignments. His extensive operations, technical and commercial experience in the refining and gas pipeline industries is ideal preparation for the leadership role he will play in constructing and operating our plants and waste oil gathering operations as we commercialize our ProTerra(TM) technology and further grow our business."

"I am impressed with Probex's technology and business plan and believe the company will become a leader in gathering and processing used oil into high quality lubricating base oils," said Mr. McNiel. "I look forward to providing the necessary leadership to safely and efficiently build and operate our first plant in Wellsville, Ohio, and to operate and grow our waste oil gathering business."

About Probex

Probex is a Dallas-based energy technology company that has begun commercialization of ProTerra(TM), its proprietary lubricating base oil technology enabling production of premium quality base oil and other petroleum products from used lubricating oils.

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. 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. Factors that could cause actual results to differ materially from the company's expectations include financial performance, conditions in the lubricating oil industry, the company's ability to obtain financing for its anticipated acquisitions and plant development, market acceptance of the company's products and technologies, changes in local, national or global economic conditions, and similar variables.