Exhibit 99



                                   [REX LOGO]


NEWS ANNOUNCEMENT                                 FOR IMMEDIATE RELEASE

For further information contact:
Douglas Bruggeman                                 Joseph N. Jaffoni
Chief Financial Officer                           Jaffoni & Collins Incorporated
937/276-3931                                      212/835-8500 or rsc@jcir.com


               REX STORES PROVIDES $50.8 MILLION FOR 74% INTEREST
                     IN ILLINOIS ETHANOL PRODUCTION FACILITY

Dayton, Ohio (October 31, 2007) -- REX Stores Corporation  (NYSE:RSC)  announced
today that it has provided  funding of $50.8  million in One Earth  Energy,  LLC
("One Earth") as One Earth has met all conditions precedent, including obtaining
financing for REX to proceed with its investment.  First National Bank of Omaha,
N.A., will provide senior debt financing to One Earth.

On June 18, REX  reported  that it had entered  into a  contingent  agreement to
invest between $35.1 million and $62.4 million in One Earth. REX's $50.8 million
funding  provides REX with an approximate 74% equity  ownership  interest in One
Earth.

One Earth has signed a design/build  agreement with Fagen,  Inc., an engineering
firm  focused on ethanol,  and has  commenced  construction  of the Gibson City,
Illinois  facility.  The plant has a design  capacity of 100 million  gallons of
ethanol annually.

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
"may,"  "expect,"  "believe,"  "estimate,"  "anticipate"  or  "continue"  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's filings with the Securities
and Exchange Commission and 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,  new
regulatory  restrictions or tax law changes relating to the Company'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'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  volatility  of corn,  dried
distiller grains, ethanol, gasoline and natural gas prices.

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