A numerical analysis of a moving-bed heat exchanger with solid particles inside vertical pipes has been performed using the finite difference method. The governing differential equation was derived assuming a uniform axial velocity for the solid particles. The moving-bed heat exchanger was either of the countercurrent, parallel or cross-flow type. For each, the thermal performance of the heat exchanger was calculated as a function Of non-dimensional parameters such as characteristic length, Blot number and ratio of heat capacities of gas to solid particles. For cross Bow, effects of the numbers of vertical pipes and passes were determined.