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<SEC-DOCUMENT>0000930413-08-002182.txt : 20080402
<SEC-HEADER>0000930413-08-002182.hdr.sgml : 20080402
<ACCEPTANCE-DATETIME>20080402095348
ACCESSION NUMBER:		0000930413-08-002182
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20080402
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20080402
DATE AS OF CHANGE:		20080402

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			REX STORES CORP
		CENTRAL INDEX KEY:			0000744187
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-RADIO TV & CONSUMER ELECTRONICS STORES [5731]
		IRS NUMBER:				311095548
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0131

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-09097
		FILM NUMBER:		08731498

	BUSINESS ADDRESS:	
		STREET 1:		2875 NEEDMORE RD
		CITY:			DAYTON
		STATE:			OH
		ZIP:			45414
		BUSINESS PHONE:		5132763931

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AUDIO VIDEO AFFILIATES INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>c53000_8k.htm
<TEXT>

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<P align="center">
<FONT size=2 face="serif">UNITED STATES </FONT><BR>
<FONT size=2 face="serif">SECURITIES AND EXCHANGE COMMISSION </FONT><BR>
<FONT size=2 face="serif">WASHINGTON, D.C. 20549 </FONT><BR>
<BR>
<FONT size=2 face="serif">FORM 8-K </FONT><BR>
<BR>
<FONT size=2 face="serif">CURRENT REPORT </FONT><BR>
<BR>
<FONT size=2 face="serif">Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</FONT><BR>
<BR>
<FONT size=2 face="serif">Date of Report (Date of earliest event reported): April 2, 2008 </FONT><BR>
<BR>
<FONT size=2 face="serif">REX STORES CORPORATION </FONT><BR>
<FONT size=2 face="serif">(Exact name of registrant as specified in its charter) </FONT></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
	<TD width=30% align=center nowrap>
<FONT size=2 face="serif">Delaware</FONT>	</TD>
	<TD width=3% align="center">&nbsp;	</TD>
	<TD width=34% align=center nowrap>
<FONT size=2 face="serif">001-09097</FONT>	</TD>
	<TD width=3% align="center">&nbsp;	</TD>
	<TD width=30% align=center nowrap><FONT size=2 face="serif">31-1095548</FONT>	</TD>
</TR>
<TR valign="bottom">
	<TD align=center nowrap>
<FONT size=2 face="serif">(State or other jurisdiction</FONT>	</TD>
	<TD align="center">&nbsp;	</TD>
	<TD align=center nowrap><FONT size=2 face="serif">(Commission File No.)</FONT>	</TD>
	<TD align="center">&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=2 face="serif">(IRS Employer Identification No.)</FONT>	</TD>
</TR>
<TR valign="bottom">
	<TD align=center nowrap>
<FONT size=2 face="serif">of incorporation)</FONT>	</TD>
	<TD align="center">&nbsp;	</TD>
	<TD align=center nowrap>&nbsp;	</TD>
	<TD align="center">&nbsp;	</TD>
	<TD align=center nowrap>&nbsp;	</TD>
</TR>
</TABLE><BR>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
	<TD width=67% align=center nowrap>
<FONT size=2 face="serif">2875 Needmore Road, Dayton, Ohio</FONT>	</TD>
	<TD width=3%>&nbsp;	</TD>
	<TD width=30% align=center nowrap>
<FONT size=2 face="serif">45414</FONT>	</TD>
  </TR>
<TR valign="bottom">
	<TD align=center nowrap><FONT size=2 face="serif">(Address of principal executive offices)</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap><font size=2 face="serif">(Zip Code)</font> </TD>
  </TR>
</TABLE>
<BR>
<P align="center">
<FONT size=2 face="serif">Registrant's telephone number, including area code: (937) 276-3931</FONT></P>
<P align="left">
<FONT size=2 face="serif">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: </FONT></P>
<P align="left">
<FONT size=2 face="serif">[ &nbsp;] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)  </FONT></P>
<P align="left">
<FONT size=2 face="serif">[&nbsp; ] Soliciting material pursuant to Rule 14a-12  under the Exchange Act (17 CFR 240.14a-12)    </FONT></P>
<P align="left">
<FONT size=2 face="serif">[&nbsp; ] Pre-commencement  communications pursuant to Rule 14d-2(b)  under the Exchange Act (17 CFR 240.14d-2(b))    </FONT></P>
<P align="left">
<FONT size=2 face="serif">[ &nbsp;] Pre-commencement  communications pursuant to Rule 13e-4(c)  under the Exchange Act (17 CFR 240.13e-4(c))   </FONT></P>
<br>
<HR noshade align="center" width="100%" size=4>
<P align="left" style="page-break-before:always"></P><PAGE>
<P align="left">
<FONT size=2 face="serif">Item 2.02. &nbsp;&nbsp;Results of Operations and Financial Condition </FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">On April 2, 2008, REX Stores Corporation issued a press release announcing financial results and comparable store sales for the three month and twelve month periods ended January 31, 2008.
The press release is furnished as Exhibit 99 to this report. </FONT></P>
<P align="left">
<FONT size=2 face="serif">Item 9.01. &nbsp;&nbsp;Financial Statements and Exhibits</FONT></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR>
  <TD width="5%" valign=top nowrap>&nbsp;</TD>
	<TD width="3%" valign=top nowrap>
<FONT size=2 face="serif">(c)</FONT></TD>
	<TD width=92%>
<P align="left"><FONT size=2 face="serif">Exhibits. The following exhibits are furnished with this report: </FONT></P>
<P align="left"><FONT size=2 face="serif">99 &nbsp;&nbsp;Press Release dated April 2, 2008</FONT></P></TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR></TABLE>

<br>
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<P align="left" style="page-break-before:always"></P><PAGE>
<P align="center">
<FONT size=2 face="serif">SIGNATURES</FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
</FONT></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
	<TD width="51%" align=left nowrap>&nbsp;	</TD>
	<TD colspan="2">
 &nbsp;<FONT size=2 face="serif">REX STORES CORPORATION</FONT>	</TD>
  </TR>
<TR>
	<TD colspan=3>&nbsp;	</TD>
</TR>
<TR>
	<TD colspan=3>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=2 face="serif">Date: April 2, 2008</FONT>	</TD>
	<TD width="2%"><font size=2 face="serif">By:&nbsp;&nbsp;&nbsp;</font> </TD>
	<TD width="47%" align=left nowrap>
<FONT size=2 face="serif"> /s/ DOUGLAS L. BRUGGEMAN</FONT>	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap><FONT size=2 face="serif">----------------------------------------------------</FONT>	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap><FONT size=2 face="serif">Name: Douglas L. Bruggeman</FONT>	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap><FONT size=2 face="serif">Title: &nbsp; Vice President
	    - Finance,</FONT>	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">Chief Financial Officer</FONT>	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">and Treasurer</FONT>	</TD>
</TR>
</TABLE>
<br>
<BR>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>c53000_ex99.htm
<TEXT>

<HTML>
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   <TITLE> -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing</TITLE>
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<P align="right"><B><FONT size=2 face="serif">EXHIBIT 99</FONT></B></P>

<P align="center">
<IMG src="c53000_ex99bx1x1.jpg" border=0>
</P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
	<TD width=49% align=left nowrap>
<B><FONT face="sans-serif">News Announcement</FONT></B>	</TD>
	<TD width="10%">&nbsp;	</TD>
	<TD align=left nowrap>
<B><FONT face="sans-serif">For Immediate Release</FONT></B>	</TD>
</TR>
<TR>
	<TD colspan=3>&nbsp;

	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<B><FONT size=2 face="serif">For further information contact:</FONT></B>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=2 face="serif">Douglas Bruggeman</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="serif">Joseph N. Jaffoni/David Collins</FONT>	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=2 face="serif">Chief Financial Officer</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="serif">Jaffoni &amp; Collins Incorporated</FONT>	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=2 face="serif">937/276-3931</FONT>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=2 face="serif">212/835-8500 or rsc@jcir.com</FONT>	</TD>
</TR>
</TABLE><BR>
<P align="center">
<B><FONT size=2 face="serif">REX STORES FISCAL 2007 DILUTED EARNINGS PER SHARE </FONT></B><BR>
<B><FONT size=2 face="serif">RISE TO $2.89 FROM $0.98 IN THE PRIOR YEAR </FONT></B><BR>
<BR>
<B><FONT size=2 face="serif">- Fiscal Fourth Quarter Diluted Earnings Per Share Increase </FONT></B><BR>
<B><FONT size=2 face="serif">to $0.52 from $0.30 in the Prior Year - </FONT></B></P>
<P align="left">
<FONT size=2 face="serif">Dayton, Ohio (April 2, 2008) -- REX Stores Corporation (NYSE:RSC) today announced financial results for the three and twelve month period ended January 31, 2008. The Company will host an investment community conference call
and webcast this morning (details below) to review the results. </FONT></P>
<P align="left">
<FONT size=2 face="serif">Net income in the fiscal year ended January 31, 2008 was $33.9 million, or $2.89 per diluted share, compared with net income of $11.4 million, or $0.98 per diluted share, in fiscal 2006. Per share results are based on
11,721,000 and 11,576,000 diluted weighted average shares outstanding for the fiscal years ended January 31, 2008 and January 31, 2007, respectively. Net sales and revenue from continuing operations in fiscal 2007 were $224.0 million compared with
$235.7 million in fiscal 2006. Comparable store sales in fiscal 2007 declined 6.7% compared to fiscal 2006. The Company reports sales performance quarterly and considers a store to be comparable after it has been open six full fiscal quarters.
Comparable store sales figures do not include sales of extended service contracts. </FONT></P>
<P align="left">
<FONT size=2 face="serif">In fiscal 2007, the Company generated $9.8 million of income from continuing operations before income taxes and minority interest from its retail segment, compared with $5.8 million in fiscal 2006. In fiscal 2007, the
Company generated $22.4 million of income from continuing operations before income taxes and minority interest from its alternative energy segment, compared with $0.2 million in fiscal 2006. In fiscal 2007, the Company generated $7.6 million of
income from continuing operations before income taxes and minority interest from its corporate and other segment, compared with $9.0 million in fiscal 2006. </FONT></P>
<P align="left">
<FONT size=2 face="serif">The Company&#146;s financial results reflect the consolidation of our investments in two ethanol affiliates, Levelland/Hockley County Ethanol, LLC (&#147;Levelland/Hockley&#148;) as of September 30, 2006 and One Earth
Energy LLC as of October 30, 2007. </FONT></P>
<P align="center">
<FONT size=2 face="serif">-more- </FONT></P>

<HR noshade width="100%" size=4>

<P STYLE="page-break-before:always"></P><PAGE><br>


<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
	<TD align=left nowrap>
<B><FONT size=2 face="serif">REX Reports Fiscal 2007 Fourth Quarter, 4/2/08</FONT></B>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
      <div align="right"><FONT size=2 face="serif">page 2</FONT> </div></TD>
</TR>
</TABLE><BR>
<P align="left">
<FONT size=2 face="serif">Net income in the fiscal 2007 fourth quarter ended January 31, 2008 was $5.9 million, or $0.52 per diluted share, compared with net income of $3.6 million, or $0.30 per diluted share, in the fourth quarter of fiscal 2006.
For the quarter ended January 31, 2008, income from continuing operations, net of taxes was $5.2 million, compared with income from continuing operations, net of taxes of $3.7 million in the same period a year ago. Per share results are based on
11,306,000 and 11,712,000 diluted weighted average shares outstanding for the quarters ended January 31, 2008 and January 31, 2007, respectively. Net sales and revenue from continuing operations in both the fiscal 2007 and fiscal 2006 fourth
quarters were $71.4 million. Comparable store sales for the quarter ended January 31, 2008 rose 2.4% .</FONT></P>
<P align="left">
<FONT size=2 face="serif">In the fiscal 2007 fourth quarter, the Company generated $3.6 million of income from continuing operations before income taxes and minority interest from its retail segment, compared with $1.8 million in the comparable
period of fiscal 2006. In the fiscal 2007 fourth quarter, the Company generated $3.4 million of income from continuing operations before income taxes and minority interest from its alternative energy segment, compared with $1.5 million in the
comparable period of fiscal 2006. In the fiscal 2007 fourth quarter, the Company generated a $1.3 million loss from continuing operations before income taxes and minority interest from its corporate and other segment, compared with $2.0 million of
income from continuing operations before income taxes and minority interest from its corporate and other segment in the comparable period of fiscal 2006. </FONT></P>
<P align="left">
<FONT size=2 face="serif">As previously disclosed, during the fiscal 2007 third quarter, REX received 3,693,858 shares of US BioEnergy (NASDAQ: USBE) common stock as partial consideration for its interest in Millennium Ethanol, LLC (acquired by US
BioEnergy) based upon the conversion of REX&#146;s $14 Million Convertible Secured Promissory Note, accrued interest and exercise of its Related Purchase Rights. In the fiscal 2007 fourth quarter REX recorded a pre-tax investment gain of $6.8
million related to the divestiture of all of its US BioEnergy shares bringing the total gain on the Company&#146;s interest in Millennium Ethanol to approximately $24.0 million. </FONT></P>
<P align="left">
<FONT size=2 face="serif">The $1.3 million loss from synthetic fuel limited partnership investments in the fiscal 2007 fourth quarter reflects the increase in the Company&#146;s estimate of the phase out of Section 29/45K tax credits to 70% and the
previously announced closure of the Colona facility. In the fiscal 2006 fourth quarter, REX recorded approximately $2.1 million of pre-tax income from these sources. </FONT></P>
<P align="left">
<FONT size=2 face="serif">During the fiscal 2007 fourth quarter the Company recorded a $2.6 million non-cash loss from interest rate derivative financial instruments held by its consolidated ethanol entities, Levelland/Hockley County Ethanol, LLC
and One Earth Energy, LLC. The Company also recorded a minority interest gain of $839,000 in the fiscal 2007 fourth quarter primarily related to these non-cash interest rate derivatives. In addition the Company recognized a $456,000 loss from its
equity investment in unconsolidated ethanol affiliates in the fiscal 2007 fourth quarter. This loss reflects an $873,000 loss from Patriot Renewable Fuels, LLC primarily due to a non-cash loss from its interest rate derivative, partially offset by
income of $417,000 from Big River Resources. </FONT></P>
<P align="center">
<FONT size=2 face="serif">-more- </FONT></P>

<HR noshade width="100%" size=4>

<P STYLE="page-break-before:always"></P><PAGE><br>


<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
	<TD align=left nowrap>
<B><FONT size=2 face="serif">REX Reports Fiscal 2007 Fourth Quarter, 4/2/08</FONT></B>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
      <div align="right"><FONT size=2 face="serif">page 3</FONT> </div></TD>
</TR>
</TABLE><BR>
<P align="left">
<FONT size=2 face="serif">During the quarter ended January 31, 2008 REX recognized a $0.6 million gain from discontinued operations, net of taxes, primarily reflecting a $0.8 million gain on disposal of discontinued operations, net of taxes. The
Company recognized a $0.2 million loss from discontinued operations, net of taxes, in the year ago period. During fiscal 2007 the Company closed 78 stores, 67 of which were classified as discontinued operations.</FONT></P>
<P align="left">
<FONT size=2 face="serif">On February 20, 2008, REX (through a wholly owned subsidiary), purchased a $5.0 million secured promissory note from Levelland/Hockley. The note grants REX rights to convert the note into an equity ownership position. With
the purchase of this note, REX has fulfilled all of its financing commitments for Levelland/Hockley. </FONT></P>
<P align="left">
<FONT size=2 face="serif">In the fiscal 2007 fourth quarter, REX purchased approximately 102,000 shares of its common stock in open market transactions. In the full fiscal 2007 year, the Company repurchased a total of 784,000 shares of its common
stock in open market transactions. The Company has approximately 215,600 authorized shares remaining available to purchase under the expanded June 2007 stock buy-back authorization. </FONT></P>
<P align="left">
<FONT size=2 face="serif">The Company will host a conference call and webcast today at 11:00 a.m. EDT, which are open to the general public. The conference call dial-in number is 212/341-7080; please call ten minutes in advance to ensure that you
are connected prior to the presentation. Interested parties may also access the call live via the Investor Relations page of the Company&#146;s website, www.rextv.com, or at www.earnings.com; please allow 15 minutes to register, download and install
any necessary software. Following its completion, a telephonic replay of the call can be accessed through 1:00 p.m. EDT on April 9, 2008 by dialing 800/633-8284 or 402/977-9140 (international callers). The access code for the audio replay is
21379592. Alternatively, a replay will be available on the Internet for 30 days at </FONT><U><FONT size=2 face="serif">www.rextv.com</FONT></U><FONT size=2 face="serif"> or </FONT><U><FONT size=2
face="serif">www.earnings.com</FONT></U><FONT size=2 face="serif">. </FONT></P>
<P align="left">
<FONT size=2 face="serif">REX has interests in four ethanol entities and is a specialty retailer of consumer electronic products and appliances. As of January 31, 2008, the Company operated 115 retail stores in 34 states under the
trade name &#147;REX.&#148; </FONT></P>
<P align="left">
<FONT size=2 face="serif">This news announcement contains or may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  Such statements can be identified by use of
forward-looking terminology such as &#147;may,&#148; &#147;expect,&#148; &#147;believe,&#148; &#147;estimate,&#148; &#147;anticipate&#148; or &#147;continue&#148; or the negative thereof or other variations thereon or comparable terminology. Readers
are cautioned that there are risks and uncertainties that could cause actual events or results to differ materially from those referred to in such forward-looking statements. These risks and uncertainties include the risk factors set forth from time
to time in the Company&#146;s filings with the Securities and Exchange Commission and include among other things: the highly competitive nature of the consumer electronics retailing industry, changes in the national or regional economies, weather,
the effects of terrorism or acts of war on consumer spending patterns, the availability of certain products, technological changes, changes in real estate market conditions, new regulatory restrictions or tax law changes relating to the
Company&#146;s synthetic fuel investments, the fluctuating amount of quarterly payments received by the Company with respect to sales of its partnership interest in a synthetic fuel investment, the potential for Section 29/45K tax credits to phase
out based on the price of crude oil adjusted for inflation, and the uncertain amount of synthetic fuel production and resulting income received from time to time from the Company&#146;s synthetic fuel investments.  As it relates to ethanol
investments, risks and uncertainties include among other things: the uncertainty of constructing plants on time and on budget and the price volatility of corn, dried distiller grains, ethanol, gasoline and natural gas. </FONT></P>
<P align="center">
<FONT size=2 face="serif">-tables follow- </FONT></P>

<HR noshade width="100%" size=4>

<P STYLE="page-break-before:always"></P><PAGE><br>


<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
	<TD align=left nowrap>
<B><FONT size=2 face="serif">REX Reports Fiscal 2007 Fourth Quarter, 4/2/08</FONT></B>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
      <div align="right"><FONT size=2 face="serif">page 4</FONT> </div></TD>
</TR>
</TABLE><BR>
<P align="center">
<B><FONT size=2 face="serif">REX STORES CORPORATION AND SUBSIDIARIES </FONT></B><BR>
<B><FONT size=2 face="serif">Consolidated Condensed Statements Of Income </FONT></B><BR>
<B><FONT size=2 face="serif">Unaudited </FONT></B></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="bottom">
    <TD align=left nowrap></TD>
    <TD></TD>
    <TD align=center nowrap colspan=7><FONT size=2 face="serif">Three Months
        Ended</FONT></TD>
    <TD width="4%"></TD>
    <TD align=center nowrap colspan=7><FONT size=2 face="serif">Twelve Months
        Ended</FONT></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap></TD>
    <TD></TD>
    <TD align=center nowrap colspan=7 style="border-bottom:1px solid #000000"><FONT size=2 face="serif">January
        31</FONT></TD>
    <TD width="4%"></TD>
    <TD align=center nowrap colspan=7 style="border-bottom:1px solid #000000"><FONT size=2 face="serif">January
        31</FONT></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align=center nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">2008</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD colspan="2" align=center nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">2007*</FONT></TD>
    <TD   align=left nowrap style="border-bottom:1px solid #000000;"></TD>
    <TD width="4%">&nbsp;</TD>
    <TD colspan="2" align=center nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">2008</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD colspan="2" align=center nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">2007*</FONT></TD>
    <TD   align=left nowrap style="border-bottom:1px solid #000000;"></TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD align=left nowrap><FONT size=2 face="serif">Net sales and revenue</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%" align=left nowrap><FONT size=2 face="serif">$</FONT></TD>
    <TD align=right nowrap><FONT size=2 face="serif">71,424</FONT></TD>
    <TD width="1%" align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD width="1%" align=left nowrap><FONT size=2 face="serif">$</FONT></TD>
    <TD align=right nowrap><FONT size=2 face="serif">71,356</FONT></TD>
    <TD width="1%" align=left nowrap>&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%" align=left nowrap><FONT size=2 face="serif">$</FONT></TD>
    <TD align=right nowrap><FONT size=2 face="serif">223,975</FONT></TD>
    <TD width="1%" align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD width="1%" align=left nowrap><FONT size=2 face="serif">$</FONT></TD>
    <TD align=right nowrap><FONT size=2 face="serif">235,701</FONT></TD>
    <TD width="1%" align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap><FONT size=2 face="serif">Cost of sales</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">51,962</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">52,279</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">158,020</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">170,394</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD align=left nowrap><FONT size=2 face="serif">Gross profit</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">19,462</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">19,077</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">65,955</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">65,307</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap><FONT size=2 face="serif">Selling, general and administrative
        expenses</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">(17,179</FONT></TD>
    <TD   align=left nowrap><FONT size=2 face="serif">)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">(17,734</FONT></TD>
    <TD   align=left nowrap><FONT size=2 face="serif">)</FONT></TD>
    <TD width="4%">&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">(61,288</FONT></TD>
    <TD   align=left nowrap><FONT size=2 face="serif">)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">(64,562</FONT></TD>
    <TD   align=left nowrap><FONT size=2 face="serif">)</FONT></TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD align=left nowrap><FONT size=2 face="serif">Interest income</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">939</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">1,454</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">5,714</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">2,374</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap><FONT size=2 face="serif">Interest expense</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">(86</FONT></TD>
    <TD   align=left nowrap><FONT size=2 face="serif">)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">(102</FONT></TD>
    <TD   align=left nowrap><FONT size=2 face="serif">)</FONT></TD>
    <TD width="4%">&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">(242</FONT></TD>
    <TD   align=left nowrap><FONT size=2 face="serif">)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">(1,121</FONT></TD>
    <TD   align=left nowrap><FONT size=2 face="serif">)</FONT></TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD align=left nowrap><FONT size=2 face="serif">Loss on early termination
        of debt</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">(9</FONT></TD>
    <TD   align=left nowrap><FONT size=2 face="serif">)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">-</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">(627</FONT></TD>
    <TD   align=left nowrap><FONT size=2 face="serif">)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">-</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap><FONT size=2 face="serif">Gain on sale of real estate</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">188</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">-</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">365</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">1,734</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD align=left nowrap><FONT size=2 face="serif">Equity in income (loss) of
        unconsolidated ethanol affiliates</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">(456</FONT></TD>
    <TD   align=left nowrap><FONT size=2 face="serif">)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">498</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">1,601</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">499</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap><FONT size=2 face="serif">Realized investment gains</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">6,833</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">-</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">23,951</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">-</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD align=left nowrap><FONT size=2 face="serif">Income (loss) from synthetic
        fuel investments</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">(1,334</FONT></TD>
    <TD   align=left nowrap><FONT size=2 face="serif">)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">2,114</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">6,945</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">10,764</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap><FONT size=2 face="serif">Unrealized loss on derivative
        financial instruments</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">(2,601</FONT></TD>
    <TD   align=left nowrap valign=middle><FONT size=2 face="serif">)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">-</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">(2,601</FONT></TD>
    <TD   align=left nowrap valign=middle><FONT size=2 face="serif">)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">-</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD align=left nowrap><FONT size=2 face="serif">Income from continuing operations
        before</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD   align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD align=left nowrap>&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">income
        taxes and minority interest</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">5,757</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">5,307</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">39,773</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">14,995</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap><FONT size=2 face="serif">Provision for income taxes</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">(1,373</FONT></TD>
    <TD   align=left nowrap><FONT size=2 face="serif">)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">(1,591</FONT></TD>
    <TD   align=left nowrap><FONT size=2 face="serif">)</FONT></TD>
    <TD width="4%">&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">(14,690</FONT></TD>
    <TD   align=left nowrap><FONT size=2 face="serif">)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">(4,952</FONT></TD>
    <TD   align=left nowrap><FONT size=2 face="serif">)</FONT></TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD align=left nowrap><FONT size=2 face="serif">Minority interest in loss
        of consolidated subsidiaries</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">839</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">6</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">841</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">-</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap><FONT size=2 face="serif">Income from continuing operations</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">5,223</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">3,722</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">25,924</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">10,043</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD align=left nowrap><FONT size=2 face="serif">Loss from discontinued operations,
        net of tax</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">(203</FONT></TD>
    <TD   align=left nowrap><FONT size=2 face="serif">)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">(172</FONT></TD>
    <TD   align=left nowrap><FONT size=2 face="serif">)</FONT></TD>
    <TD width="4%">&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">(2,272</FONT></TD>
    <TD   align=left nowrap><FONT size=2 face="serif">)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">(103</FONT></TD>
    <TD   align=left nowrap><FONT size=2 face="serif">)</FONT></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap><FONT size=2 face="serif">Gain on disposal of discontinued
        operations, net of tax</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">837</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">-</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">10,215</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">1,411</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD align=left nowrap><FONT size=2 face="serif">Net income</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">$</FONT></TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">5,857</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">$</FONT></TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">3,550</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">$</FONT></TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">33,867</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">$</FONT></TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">11,351</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap><FONT size=2 face="serif">WEIGHTED AVERAGE SHARES</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD   align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap><FONT size=2 face="serif">OUTSTANDING &#150; BASIC</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">10,154</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">10,360</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">10,420</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">10,291</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD align=left nowrap><FONT size=2 face="serif">Basic income per share from
        continuing operations</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">$</FONT></TD>
    <TD align=right nowrap><FONT size=2 face="serif">0.52</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">$</FONT></TD>
    <TD align=right nowrap><FONT size=2 face="serif">0.36</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">$</FONT></TD>
    <TD align=right nowrap><FONT size=2 face="serif">2.49</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">$</FONT></TD>
    <TD align=right nowrap><FONT size=2 face="serif">0.97</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap><FONT size=2 face="serif">Basic loss per share from
        discontinued operations</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">(0.02</FONT></TD>
    <TD   align=left nowrap><FONT size=2 face="serif">)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">(0.02</FONT></TD>
    <TD   align=left nowrap><FONT size=2 face="serif">)</FONT></TD>
    <TD width="4%">&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">(0.22</FONT></TD>
    <TD   align=left nowrap><FONT size=2 face="serif">)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">(0.01</FONT></TD>
    <TD   align=left nowrap><FONT size=2 face="serif">)</FONT></TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD align=left nowrap><FONT size=2 face="serif">Basic income per share on
        disposal of discontinued</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD   align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD align=left nowrap><FONT size=2 face="serif">operations</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">0.08</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">-</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">0.98</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">0.14</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap><FONT size=2 face="serif">BASIC NET INCOME PER SHARE</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">$</FONT></TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">0.58</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">$</FONT></TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">0.34</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">$</FONT></TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">3.25</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">$</FONT></TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">1.10</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD align=left nowrap><FONT size=2 face="serif">WEIGHTED AVERAGE SHARES</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD   align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD align=left nowrap><FONT size=2 face="serif">OUTSTANDING &#150; DILUTED</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">11,306</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">11,712</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">11,721</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">11,576</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap><FONT size=2 face="serif">Diluted income per share
        from continuing operations</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">$</FONT></TD>
    <TD align=right nowrap><FONT size=2 face="serif">0.46</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">$</FONT></TD>
    <TD align=right nowrap><FONT size=2 face="serif">0.32</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">$</FONT></TD>
    <TD align=right nowrap><FONT size=2 face="serif">2.21</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">$</FONT></TD>
    <TD align=right nowrap><FONT size=2 face="serif">0.87</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD align=left nowrap><FONT size=2 face="serif">Diluted loss per share from
        discontinued operations</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">(0.02</FONT></TD>
    <TD   align=left nowrap><FONT size=2 face="serif">)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">(0.02</FONT></TD>
    <TD   align=left nowrap><FONT size=2 face="serif">)</FONT></TD>
    <TD width="4%">&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">(0.19</FONT></TD>
    <TD   align=left nowrap><FONT size=2 face="serif">)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">(0.01</FONT></TD>
    <TD   align=left nowrap><FONT size=2 face="serif">)</FONT></TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap><FONT size=2 face="serif">Diluted income per share
        on disposal of discontinued</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD   align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap><FONT size=2 face="serif">operations</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">0.08</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">-</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">0.87</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">0.12</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD align=left nowrap><FONT size=2 face="serif">DILUTED NET INCOME PER SHARE</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">$</FONT></TD>
    <TD width="4%" align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">0.52</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">$</FONT></TD>
    <TD width="4%" align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">0.30</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">$</FONT></TD>
    <TD width="4%" align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">2.89</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">$</FONT></TD>
    <TD width="4%" align=right nowrap style="border-bottom:3px double #000000;"><FONT size=2 face="serif">0.98</FONT></TD>
    <TD   align=left nowrap>&nbsp;</TD>
  </TR>
</TABLE>
<BR>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR>
	<TD width="2%" valign=top nowrap>
<FONT size=2 face="serif">*</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD>
<FONT size=2 face="serif">Amounts differ from those previously reported as a result of certain stores being reclassified into discontinued operations.</FONT>	</TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR></TABLE>
<P align="center">
<FONT size=2 face="serif"> - balance sheet follows -</FONT></P>

<HR noshade width="100%" size=4>

<P STYLE="page-break-before:always"></P><PAGE><br>


<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
	<TD align=left nowrap>
<B><FONT size=2 face="serif">REX Reports Fiscal 2007 Fourth Quarter, 4/2/08</FONT></B>	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>
      <div align="right"><FONT size=2 face="serif">page 5</FONT> </div></TD>
</TR>
</TABLE><BR>
<P align="center">
<B><FONT size=2 face="serif">REX STORES CORPORATION AND SUBSIDIARIES </FONT></B><BR>
<B><FONT size=2 face="serif">Consolidated Condensed Balance Sheets </FONT></B><BR>
<B><FONT size=2 face="serif">(in thousands) </FONT></B><BR>
<B><FONT size=2 face="serif">Unaudited </FONT></B></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="bottom">
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan=2 align=CENTER nowrap><FONT size=2 face="serif">January 31,</FONT> </TD>
    <TD align=CENTER nowrap>&nbsp;</TD>
    <TD width="4%">&nbsp;&nbsp;&nbsp;</TD>
    <TD colspan=2 align=CENTER nowrap><FONT size=2 face="serif">January 31,</FONT> </TD>
    <TD align=CENTER nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align=center nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">2008</FONT> </TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD width="4%">&nbsp;&nbsp;&nbsp;</TD>
    <TD colspan="2" align=center nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">2007</FONT> </TD>
    <TD   align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap><FONT size=2 face="serif">ASSETS</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD width="1%" align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD width="4%">&nbsp;&nbsp;&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD   align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD align=left nowrap><FONT size=2 face="serif">CURRENT ASSETS:</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD width="1%" align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD width="4%">&nbsp;&nbsp;&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD   align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap>&nbsp; &nbsp;<FONT size=2 face="serif">Cash and cash
        equivalents</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD width="1%" align=left nowrap><FONT size=2 face="serif">$</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">127,716</FONT> </TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD width="4%">&nbsp;&nbsp;&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">$</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">43,008</FONT> </TD>
    <TD   align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD align=left nowrap>&nbsp; &nbsp;<FONT size=2 face="serif">Accounts receivable,
        net</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD width="1%" align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">1,877</FONT> </TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD width="4%">&nbsp;&nbsp;&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">1,975</FONT> </TD>
    <TD   align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap>&nbsp; &nbsp;<FONT size=2 face="serif">Synthetic fuel
        receivable</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD width="1%" align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">573</FONT> </TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD width="4%">&nbsp;&nbsp;&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">8,838</FONT> </TD>
    <TD   align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD align=left nowrap>&nbsp; &nbsp;<FONT size=2 face="serif">Merchandise
        inventory, net</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD width="1%" align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">49,933</FONT> </TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD width="4%">&nbsp;&nbsp;&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">70,078</FONT> </TD>
    <TD   align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap>&nbsp; &nbsp;<FONT size=2 face="serif">Prepaid expenses
        and other</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD width="1%" align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">2,492</FONT> </TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD width="4%">&nbsp;&nbsp;&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">2,915</FONT> </TD>
    <TD   align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD align=left nowrap>&nbsp; &nbsp;<FONT size=2 face="serif">Future income
        tax benefits</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;&nbsp;&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">10,599</FONT> </TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD width="4%">&nbsp;&nbsp;&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;&nbsp;&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">9,192</FONT> </TD>
    <TD   align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap>&nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">Total
        current assets</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD width="1%" align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">193,190</FONT> </TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD width="4%">&nbsp;&nbsp;&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">136,006</FONT> </TD>
    <TD   align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD align=left nowrap><FONT size=2 face="serif">Property and equipment, net</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD width="1%" align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">136,505</FONT> </TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD width="4%">&nbsp;&nbsp;&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">122,769</FONT> </TD>
    <TD   align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap><FONT size=2 face="serif">Assets held for sale, net</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD width="1%" align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">-</FONT> </TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD width="4%">&nbsp;&nbsp;&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">2,009</FONT> </TD>
    <TD   align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD align=left nowrap><FONT size=2 face="serif">Other assets</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD width="1%" align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">14,803</FONT> </TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD width="4%">&nbsp;&nbsp;&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">18,986</FONT> </TD>
    <TD   align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap><FONT size=2 face="serif">Goodwill</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD width="1%" align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">1,322</FONT> </TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD width="4%">&nbsp;&nbsp;&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">1,322</FONT> </TD>
    <TD   align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD align=left nowrap><FONT size=2 face="serif">Future income tax benefits</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD width="1%" align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">21,929</FONT> </TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD width="4%">&nbsp;&nbsp;&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">26,245</FONT> </TD>
    <TD   align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap><FONT size=2 face="serif">Equity method investments</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD width="1%" align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">38,748</FONT> </TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD width="4%">&nbsp;&nbsp;&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">21,699</FONT> </TD>
    <TD   align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD align=left nowrap><FONT size=2 face="serif">Investments in debt instruments</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD width="1%" align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">-</FONT> </TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD width="4%">&nbsp;&nbsp;&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">14,000</FONT> </TD>
    <TD   align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap><FONT size=2 face="serif">Restricted investments</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD width="1%" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">2,481</FONT> </TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD width="4%">&nbsp;&nbsp;&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">&nbsp;</FONT></TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">2,406</FONT> </TD>
    <TD   align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD align=left nowrap>&nbsp; &nbsp;<FONT size=2 face="serif">Total assets</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD width="1%" align=left nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">$</FONT></TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">408,978</FONT> </TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD width="4%">&nbsp;&nbsp;&nbsp;</TD>
    <TD align=left nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">$</FONT></TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">345,442</FONT> </TD>
    <TD   align=left nowrap>&nbsp;</TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD width="4%">&nbsp;&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap><FONT size=2 face="serif">LIABILITIES AND SHAREHOLDERS'
        EQUITY</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD width="1%" align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD width="4%">&nbsp;&nbsp;&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD   align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD align=left nowrap><FONT size=2 face="serif">CURRENT LIABILITIES:</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD width="1%" align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD width="4%">&nbsp;&nbsp;&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD   align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap>&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">Current
        portion of long-term debt</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD width="1%" align=left nowrap><FONT size=2 face="serif">$</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">4,101</FONT> </TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD width="4%">&nbsp;&nbsp;&nbsp;</TD>
    <TD align=left nowrap><FONT size=2 face="serif">$</FONT> </TD>
    <TD align=right nowrap><FONT size=2 face="serif">2,678</FONT> </TD>
    <TD   align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD align=left nowrap>&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">Accounts
        payable, trade</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD width="1%" align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">27,253</FONT> </TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD width="4%">&nbsp;&nbsp;&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">23,254</FONT> </TD>
    <TD   align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap>&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">Deferred
        income</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD width="1%" align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">14,448</FONT> </TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD width="4%">&nbsp;&nbsp;&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">15,641</FONT> </TD>
    <TD   align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD align=left nowrap>&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">Deferred
        gain on sale and leaseback</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD width="1%" align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">1,436</FONT> </TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD width="4%">&nbsp;&nbsp;&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">101</FONT> </TD>
    <TD   align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap>&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">Other current
        liabilities</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;&nbsp;&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">13,617</FONT> </TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD width="4%">&nbsp;&nbsp;&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;&nbsp;&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">10,510</FONT> </TD>
    <TD   align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD align=left nowrap>&nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">Total
        current liabilities</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;&nbsp;&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">60,855</FONT> </TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD width="4%">&nbsp;&nbsp;&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;&nbsp;&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">52,184</FONT> </TD>
    <TD   align=left nowrap>&nbsp;</TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD width="4%">&nbsp;&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap><FONT size=2 face="serif">LONG-TERM LIABILITIES:</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD width="1%" align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD width="4%">&nbsp;&nbsp;&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD   align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD align=left nowrap>&nbsp; &nbsp;<FONT size=2 face="serif">Long-term debt</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD width="1%" align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">35,224</FONT> </TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD width="4%">&nbsp;&nbsp;&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">31,236</FONT> </TD>
    <TD   align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap>&nbsp; &nbsp;<FONT size=2 face="serif">Deferred income</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD width="1%" align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">17,172</FONT> </TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD width="4%">&nbsp;&nbsp;&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">19,286</FONT> </TD>
    <TD   align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD align=left nowrap>&nbsp; &nbsp;<FONT size=2 face="serif">Deferred gain
        on sale and leaseback</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD width="1%" align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">4,493</FONT> </TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD width="4%">&nbsp;&nbsp;&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">504</FONT> </TD>
    <TD   align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap>&nbsp; &nbsp;<FONT size=2 face="serif">Derivative financial
        instruments</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD width="1%" align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">2,601</FONT> </TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD width="4%">&nbsp;&nbsp;&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">-</FONT> </TD>
    <TD   align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD align=left nowrap>&nbsp; &nbsp;<FONT size=2 face="serif">Other</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;&nbsp;&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">4,313</FONT> </TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD width="4%">&nbsp;&nbsp;&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;&nbsp;&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">-</FONT> </TD>
    <TD   align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap>&nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">Total
        long-term liabilities</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;&nbsp;&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">63,803</FONT> </TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD width="4%">&nbsp;&nbsp;&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;&nbsp;&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">51,026</FONT> </TD>
    <TD   align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD align=left nowrap><FONT size=2 face="serif">MINORITY INTEREST</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;&nbsp;&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">27,729</FONT> </TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD width="4%">&nbsp;&nbsp;&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;&nbsp;&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">11,443</FONT> </TD>
    <TD   align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap><FONT size=2 face="serif">SHAREHOLDERS' EQUITY:</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD width="1%" align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD width="4%">&nbsp;&nbsp;&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD align=left nowrap>&nbsp;</TD>
    <TD   align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD align=left nowrap>&nbsp; &nbsp;<FONT size=2 face="serif">Common stock</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD width="1%" align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">298</FONT> </TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD width="4%">&nbsp;&nbsp;&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">295</FONT> </TD>
    <TD   align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap>&nbsp; &nbsp;<FONT size=2 face="serif">Paid-in capital</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD width="1%" align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">141,357</FONT> </TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD width="4%">&nbsp;&nbsp;&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">139,337</FONT> </TD>
    <TD   align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD align=left nowrap>&nbsp; &nbsp;<FONT size=2 face="serif">Retained earnings</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD width="1%" align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">285,629</FONT> </TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD width="4%">&nbsp;&nbsp;&nbsp;</TD>
    <TD align=right nowrap>&nbsp;</TD>
    <TD align=right nowrap><FONT size=2 face="serif">252,249</FONT> </TD>
    <TD   align=left nowrap>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap>&nbsp; &nbsp;<FONT size=2 face="serif">Treasury stock</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;&nbsp;&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">(170,693</FONT> </TD>
    <TD   align=left nowrap><FONT size=2 face="serif">)</FONT> </TD>
    <TD width="4%">&nbsp;&nbsp;&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;&nbsp;&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">(161,092</FONT> </TD>
    <TD   align=left nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">)</FONT> </TD>
  </TR>
  <TR valign="bottom" bgcolor="#E5FFFF">
    <TD align=left nowrap>&nbsp; &nbsp;<FONT size=2 face="serif">Total shareholders'
        equity</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD width="1%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;&nbsp;&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">256,591</FONT> </TD>
    <TD   align=left nowrap>&nbsp;</TD>
    <TD width="4%">&nbsp;&nbsp;&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;&nbsp;&nbsp;</TD>
    <TD align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">230,789</FONT> </TD>
    <TD   align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;&nbsp;&nbsp;</TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD width="4%">&nbsp;&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD align=left nowrap>&nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">Total
        liabilities and shareholders' equity</FONT> </TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%" align=left nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">$</FONT> </TD>
    <TD width="4%" align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">408,978</FONT> </TD>
    <TD width="1%" align=left nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD width="1%" align=left nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">$</FONT> </TD>
    <TD width="4%" align=right nowrap style="border-bottom:1px solid #000000;"><FONT size=2 face="serif">345,442</FONT> </TD>
    <TD width="1%" align=left nowrap>&nbsp;</TD>
  </TR>
</TABLE>
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</DOCUMENT>
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<SEQUENCE>3
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
