Business Editors
 
	   KNOXVILLE, Tenn.--(BUSINESS WIRE)--Nov. 20, 2000--Thermatrix Inc.
(OTC: TMXIQ) announced today results for the quarter ended September
30, 2000.
	   The Company generated earnings, before reorganization items and
income taxes, of $81,000, a significant improvement over the prior
year period loss of $1.8 million. After $241,000 in Chapter 11
expenses and $120,000 for the accretion of preferred stock dividend
requirements, the Company recorded a net loss attributable to common
stock of $287,000 or $0.04 per share. This compares favorably with the
net loss of $1.2 million or $0.15 per share recorded for the quarter
ended September 30, 1999.
	   Revenues for the quarter ended September 30, 2000 were $7.5
million compared to $5.5 million recorded in the comparable quarter of
the prior year. The revenues for fiscal year 1999 have been restated
to account for discontinued operations as a result of the appointment
by Wexford Management LLC of an administrative receiver in the United
Kingdom for all of the assets of the Company's U.K. subsidiaries.
	   For the nine months ended September 30, 2000, the Company
generated earnings, before reorganization items and income taxes, of
$684,000, a significant improvement over the prior year period loss of
$4.4 million. After $2.8 million in Chapter 11 expenses and $360,000
for the accretion of preferred stock dividend requirements, the
Company recorded a net loss attributable to common stock of $2.5
million or $0.32 per share. This compares favorably with the net loss
of $4.4 million or $0.57 per share recorded for the nine months ended
September 30, 1999.
	   Revenues for the nine months ended September 30, 2000 were $22.6
million compared to $15.5 million recorded in the comparable period of
the prior year which were also restated for the reason mentioned
above.
	   "We are very pleased that our focus on bottom-line results
continues to show progress," said Daniel S. Tedone, President and
Chief Executive Officer. "However, we must undergo more improvement in
all areas of our operations to ensure a healthy and stable commercial
enterprise in the longer term and we are making every effort to
achieve such betterment."
	   Thermatrix is an industrial company primarily serving the global
market of continuously operating facilities for a broad range of
industries that include refining, chemical, steel, pharmaceutical,
pulp and paper, electric utility, co-generation, and industrial
manufacturing.
	   Thermatrix provides a wide variety of air pollution control
solutions, including its unique flameless thermal oxidation
technology, as well as a wide range of engineered products and
services to meet the needs of its clients.
 
	   This announcement contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E
of the Securities and Exchange Act of 1934. Actual results could
differ materially from those projected due to various factors
including the outcome of the Chapter 11 proceeding, as well as the
risk factors reported in Form 10K and such other risks detailed from
time to time in the Company's reports filed with the Securities and
Exchange Commission. The Company undertakes no obligation to publicly
release the results of any revisions to these forward-looking
statements which may be made to reflect events or circumstances after
the date hereof or to reflect the occurrence of anticipated events.