Bioenergy

U.S. BioEnergy to Acquire Interest in Ethanol Co.

Dayton, Ohio [RenewableEnergyAccess.com] REX Stores Corporation has entered into an agreement with U.S. BioEnergy Corporation and Millennium Ethanol for the conversion of REX’s membership interests in Millennium Ethanol, LLC. Based upon the May 31, 2007 closing price of US BioEnergy Corporation common shares, REX would receive approximately 3.3 million shares of US BioEnergy Corporation. Millennium’s plant, which is located near Marion, SD and is expected to begin production in the first quarter of 2008, is expected to produce approximately 100 million gallons of ethanol per year and 320,000 tons of dried distillers grains annually. REX has agreements to participate in four other ethanol entities. REX Stores Corporation is also a specialty retailer of consumer electronic products and appliances.