REX Stores (RSC) Completes 500K Share Buyback; Authorizes Repurchase of Another 500K Shares

August 4, 2008 10:49 AM EDT

REX Stores Corporation (NYSE: RSC) announced today that it completed the repurchase of 500,000 shares of its common stock representing all of the shares authorized under the June 23, 2008 expanded stock buy-back authorization.

The Company's Board of Directors has authorized the repurchase of up to an additional 500,000 shares. Purchases will be made from time to time in open market or private transactions at prevailing market prices, and all shares purchased will be held in the Company's treasury for possible future use.

In fiscal 2008 to-date the Company has purchased a total of 715,600 shares and reflecting all purchases to-date, REX presently has approximately 10,062,000 shares of common stock outstanding.

REX Stores Corporation operates as a specialty retailer in the consumer electronics and appliance industry in the United States.

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