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 $14 MILLION FOR MILLENNIUM ETHANOL, LLC

Dayton, Ohio (December 20, 2006) -- REX Stores Corporation (NYSE:RSC) announced
today that it recently received notice that all conditions necessary for the
Company to fund its previously announced commitment in Millennium Ethanol, LLC
("Millennium") were satisfied. As such, on December 18, 2006, REX Stores
Corporation, through a subsidiary, purchased a $14.0 million secured promissory
note from Millennium. The note provides the Company rights to convert the note,
with additional funds of $4.0 million, into approximately a 33% ownership
interest in Millennium.

With funding secured, Millennium Ethanol, LLC has commenced construction of an
ethanol producing facility in Marion, South Dakota. Fagen, Inc. of Granite
Falls, Minnesota is providing design, engineering, procurement and construction
services for the plant. The plant is expected to begin ethanol production in
early 2008 and will have a design capacity of 100 million gallons of ethanol and
320,000 tons of dried distillers grains per year. Millennium has reached an
agreement with Archer Daniels Midland Company (NYSE:ADM) to market ethanol
produced by Millennium.

Stuart Rose, REX Stores' Chairman and Chief Executive Officer, commented, "We
are delighted to be moving forward with this investment in the Millennium
ethanol production facility. Millennium was organized and is owned by over 900
South Dakota investors, including FREMAR FARMERS COOPERATIVE INC., which
includes over 1,700 farmer members. Our participation in Millennium is
consistent with our strategy to invest in farmer-owned projects."

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, changes
in real estate market conditions, 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 price volatility of corn, dried distiller grains, ethanol, gasoline and
natural gas.

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