Exhibit 99    For Immediate Release  FOR:
  
  QUIXOTE CORPORATIONCONTACT:
  
  Daniel P. Gorey
  
  Investor Relations:Chief Financial Officer
  
  Eric Boyriven/Bob JoyceJoan R. Riley
  
  FDDirector of Investor Relations
  
  (212) 850-5600(312) 467-6755  QUIXOTE CORPORATION
REPORTS PRELIMINARY FISCAL 2009 SECOND QUARTER RESULTS  CHICAGO, IL, January 15, 2009  Quixote
Corporation (Nasdaq: QUIX)today reported preliminary results for its fiscal 2009
second quarter ended December 31, 2008.  Net sales for the second quarter of fiscal 2009 are expected to be
approximately $20 million compared to net sales of $25.9 million for the second
quarter of fiscal 2008. For the fiscal 2009 second quarter, the Company expects
a net loss of between $0.28 and $0.30 per diluted share, compared to net
earnings of $0.08 per diluted share for the second quarter of fiscal 2008.  The expected net loss per diluted share for
the second quarter of fiscal 2009 was affected by the lower sales volumes as
well as severance charges totaling approximately $850,000, or $0.06 per diluted
share.  The preliminary results for the second quarter reflect lower than
expected sales volumes both domestically and internationally, which the Company
attributes to the effects of the global economic downturn and its impact on
infrastructure spending worldwide.  Domestic
and international sales declined 23% and 22%, respectively.  International sales declined primarily due to
lower sales in Asia-Pacific, including approximately $1 million in sales to China
during the second quarter last year which did not repeat in the second quarter
of fiscal 2009.  Bruce Reimer, President and Chief Executive Officer, commented, Current
economic conditions have led many customers to pull back on infrastructure
spending, adversely affecting both of our business segments in what is
typically a seasonally soft quarter.  Although
our international sales declined for the current second quarter, we saw increased
sales in some of our international markets, including Europe, Latin America and
the Middle East, where we have made recent investments including the opening of
an office in the UAE last year.  International sales increased 12% for the
current year-to-date period, despite soft sales for the second quarter.  International markets continue to represent a
significant long-term opportunity for Quixote and remain a core part of our strategy.  more 


Quixote also announced that its Board of Directors voted to suspend the
Companys semiannual dividend. This decision will strengthen the Companys
balance sheet by conserving cash resources during this current challenging
economic environment.  The Board of
Directors intends to consider future dividends based upon the Companys ongoing
financial results.  Daniel P. Gorey, Executive Vice President and Chief Financial Officer
said, Suspending our semiannual dividend was a difficult but necessary decision.
Improving our liquidity is a high priority for Quixote, and the suspension of
our semiannual dividend saves the Company nearly $4 million in annual cash
expenditures.  This action, along with realigning
our cost structure and managing our capital spending, will strengthen our balance
sheet and increase financial flexibility, which is important in this difficult
operating environment.We are committed to continue to make the
prudent decisions that will position the Company for long-term success.  Mr. Reimer concluded, Although our
near-term outlook remains cautious in this economic environment, we are
encouraged by President-elect Obamas commitment to act with all possible speed
on an economic recovery plan.  The
stimulus package as proposed by some would provide up to 100 percent federal funding
for transportation projects with no required state match.  This should encourage funds to flow quickly
for the significant backlog of shovel-ready state road and bridge projects, initially
increasing the demand for our work zone crash cushions, Inform products and
parts sales.  As transportation projects
continue to ramp up, sales of our later-cycle permanent crash cushions and
other products also should benefit.  As
economic conditions improve, we believe the sound strategy we have in place, our
solid leadership position, and growth initiatives position us well to deliver
strong value to our shareholders.  The
Company plans to release its final results for the second quarter and conduct a
conference call on Thursday, January 29, 2009.  Quixote Corporation, (www.quixotecorp.com), through its wholly-owned
subsidiaries, Quixote Transportation Safety, Inc. and Quixote
Transportation Technologies, Inc., is the worlds leading manufacturer of
energy-absorbing highway crash cushions, electronic wireless measuring and
sensing devices, weather forecasting stations, computerized highway advisory
radio transmitting systems, flexible post delineators and other transportation
safety products.  Safe Harbor Statement under the Private Securities Litigation Reform
Act of 1995: Except for historical information contained herein, the matters
set forth in this news release are forward-looking statements.  The forward-looking statements set forth
above involve a number of risks and uncertainties that could cause actual
results to differ materially from any such statement, including the risks and
uncertainties discussed in the Companys Form 10-K for its fiscal year
ended June 30, 2008, under the caption Forward-Looking Statements and Risk
Factors in Managements Discussion and Analysis of Financial Condition and
Results of Operations, which discussion is incorporated herein by this
reference. Other factors may be described from time to time in the Companys
public filings with the Securities and Exchange Commission, news releases and
other communications.  Readers are
cautioned not to place undue reliance on these forward-looking statements,
which speak only as of the date hereof. 
The Company does not undertake any obligation to release publicly any
revisions to these forward-looking statements to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events.  2