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Historically, REX was a specialty retailer in the consumer electronics and appliance industry serving small to medium sized towns
and communities. In addition, REX has been an investor in various alternative energy entities beginning with synthetic fuel
partnerships in 1998 and later ethanol production facilities beginning in 2006. In fiscal year 2008, we commenced an evaluation
of a broad range of alternatives intended to derive value from our remaining retail operations and real estate portfolio. Following
a comprehensive analysis, late in fiscal year 2008, we leased 37 owned store locations to a third party. We anticipate closing, in
fiscal year 2009, the remainder of the retail locations the lessee does not take over from REX.
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