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                                                                    EXHIBIT 99.1


     TCC Board Announces Entry Into Merchant Banking and Financial Services

         AUSTIN, Texas, Sept. 3 / PR Newswire/ -- TCC Industries, Inc. (NYSE:
TEL) announced today that its Board has approved a proposal by management to
form wholly owned subsidiaries to engage in a broad range of merchant and
investment banking services and to build a national consumer finance
organization.  The investment banking firm will focus on private placements,
mergers & acquisitions and advisory services while the consumer finance company
will engage in Federal Housing Authority Title I Loan Programs utilizing
mortgage backed securities.  Financing for both operations has been committed
and the Company intends to commence operations immediately and to be fully
staffed within the next several weeks.

         In connection with the Company's entry into these fields of business,
the Board adopted a Stock Option Plan and granted options thereunder to key
personnel of the Company and its newly formed subsidiaries.  The options are
performanced based and can be exercised if consolidated earnings targets are
met or upon the occurrence of other conditions.  The grant of options to
Messrs. DeRoeck and Thomajan will be subject to ratification by the
shareholders at a special meeting to be called for that purpose.

         The Board also announced the earlier resignations of W. Grogan Lord,
age 82, Frank W. Denius, age 72 and J.  Patrick Kaine, age 71.  Each of the
above directors had served with the prior management of the Company.  In July
of this year two of prior management's nominees were defeated in a proxy
contest led by Walter R. DeRoeck now Chairman of the Board and Robert Thomajan,
now President of the Company.

         The existing operating companies of TCC Industries, Inc. design and
manufacture specialized bulk material conveying and processing systems for the
food, pharmaceutical and chemical industries (the MEYER Group); and design and
distribute an extensive line of souvenir, novelty and gift items for the
travel, tourism and entertainment industries (Allen-Lewis Manufacturing
Company).

/CONTACT:  Walter A. DeRoeck or Robert Thomajan, both of TCC Industries,
512-320-0976