REX Reports Q4 Income From Continuing Operations Of $0.54 Per Diluted Share

REX Stores Corporation (NYSE: RSC) today announced financial results for its fiscal 2009 fourth quarter (“Q4 ‘09”) ended January 31, 2010. REX will host a conference call and webcast today at 11:00 a.m. ET to review the results:

			Conference Call Dial-In:			212/231-2915
			Webcast / Replay URL:			www.rextv.com/Corp/Page4.aspx
						The webcast will be available for replay for 30 days

REX plans to change the Company’s name to REX American Resources Corporation and its stock trading symbol to “REX.” The name change will be subject to shareholder approval at REX’s Annual Meeting on June 9 and, if approved, the symbol change will occur thereafter.

Summary Consolidated Operating Results and Balance Sheet Review

REX reported net sales and revenue of $77.2 million in Q4 ’09 compared with net sales and revenue of $19.9 million in Q4 ‘08. For Q4 ‘09, REX recorded income from continuing operations before income taxes and non-controlling interests of $13.2 million compared with a $5.3 million loss in the comparable prior year period. The pre-tax income from continuing operations is inclusive of a $0.9 million and $4.3 million loss on derivative financial instruments in Q4 ’09 and Q4 ‘08, respectively. In the quarter ended January 31, 2010, REX generated income from continuing operations net of taxes and non-controlling interests of $5.2 million, or $0.54 per diluted share, compared with a loss net of taxes and non-controlling interests of $2.5 million, or $0.26 per diluted share, in the comparable prior year period.