Cybex Q3 Loss Widens as Sales Increase 10%

Cybex International, Inc. reported results for the third quarter ended September 27, 2003 were $21,886,000 versus
$19,898,000 for the comparable 2002 period, an increase of 10%. The net loss for the quarter ended September 27, 2003 was $953,000, or $0.12 per share, compared to a net loss of $388,000, or $ 0.04 per share, for the third quarter of 2002.

Net sales for the nine months ended September 27, 2003 were $63,608,000 compared to $56,816,000 for the comparable 2002 period, an increase of 12%. The net loss for the nine months ended September 27, 2003 was $2,557,000, or $0.30 per share, compared to a net loss of $22,572,000, or $2.56 per share, for
the same prior year period. The results for the nine months ended
September 28, 2002 included a non-cash charge to establish a valuation
reserve for deferred taxes of $21,316,000 in accordance with SFAS 109.
In the future, such related deferred tax valuation reserve will
continue to be re-evaluated and a benefit will be recorded upon
realization of the deferred tax assets or the reversal of the
valuation reserve.

John Aglialoro, Chairman and CEO, commented, “This quarter
represents the fifth consecutive quarter of comparative revenue
growth. The upcoming fourth quarter is historically the strongest
sales quarter of the year for Cybex. The enhanced liquidity provided
by our new financing has permitted us to improve our sourcing of
products as well as acquire the capital equipment necessary to improve
manufacturing efficiencies. The additional capital also allows us to
build to inventory at times to smooth the flow of production which
will result in lower costs. We will be focused on improving margins.”

As previously announced, Cybex refinanced in full its prior credit
facility on July 16, 2003. The new credit arrangements include a
$19,000,000 working capital and term loan facility from CIT
Group/Business Credit, Inc. and an $11,000,000 mortgage loan from
Hilco Capital LP. As part of the refinancing, Cybex's principal
shareholder, UM Holdings Ltd, exchanged $4,900,000 of subordinated
notes for a new series of Convertible Cumulative Preferred Stock, and
provided additional credit support.

Cybex's net sales increased by 12% during the first nine months of
2003 compared to the corresponding prior year period. While Cybex does
not expect that net sales will continue to increase at this rate
during the balance of 2003, it anticipates that net sales for the full
year 2003 will exceed 2002 net sales by more than its prior guidance
of 3% to 5%.

                       CYBEX INTERNATIONAL, INC.
            CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                 (In thousands, except per share data)
                              (unaudited)

                               Three Months Ended   Nine Months Ended
                               September September September September
                                  27,       28,       27,       28,
                                 2003      2002      2003      2002
                               --------- --------- --------- ---------

Net sales                       $21,886   $19,898   $63,608   $56,816
Cost of sales                    14,877    13,042    42,682    36,467
                               --------- --------- --------- ---------
     Gross profit                 7,009     6,856    20,926    20,349
     As a percentage of sales      32.0%     34.5%     32.9%     35.8%
Selling, general and
     administrative expenses      7,000     6,353    20,914    19,866
                               --------- --------- --------- ---------
Operating income                      9       503        12       483
Interest expense, net               956       877     2,620     2,355
                               --------- --------- --------- ---------
Loss before income taxes           (947)     (374)   (2,608)   (1,872)
Income tax provision (benefit)        6        14       (51)   20,700
                               --------- --------- --------- ---------
Net loss                           (953)     (388)   (2,557)  (22,572)
Preferred stock dividends          (122)       --      (122)       --
                               --------- --------- --------- ---------
Net loss attributable to
 common stockholders            $(1,075)  $  (388)  $(2,679) $(22,572)
                               --------- ========= ========= ---------
Basic and diluted loss per
 share                          $  (.12)  $  (.04)  $  (.30)  $ (2.56)
                               ========= ========= ========= =========