EXHIBIT 99.1

                                PRESS RELEASE


               NEWCOR ANNOUNCES CHANGES IN BOARD OF DIRECTORS

NEWCOR, INC., Bloomfield Hills, Michigan, July 23, 2001. Newcor, Inc. (Amex:
NER) and EXX INC. (Amex: EXXa, EXXb) announced that effective Monday, July
23, 2001, Jerry D. Campbell, James D. Cirar, Shirley E. Gofrank, William A.
Lawson, Jack R. Lousma and Richard A. Smith have resigned from their
positions on the Newcor Board of Directors, and that Jerry Fishman, Norman
H. Perlmutter and Frederic Remington have been appointed as directors of
Newcor. Messrs. Fishman, Perlmutter and Remington, who are also directors of
EXX, join David A. Segal, Chairman and Chief Executive Officer of EXX, James
J. Connor, President and Chief Executive Officer of Newcor, and Barry P.
Borodkin, President of BP Associates, on the Newcor Board of Directors. Mr.
Fishman is the Vice President of The Fishman Organization Inc., a sales and
marketing group representing manufacturers in international sales. Mr.
Perlmutter is a certified public accountant in private practice. Mr.
Remington is the Chairman of the Board and Chief Executive Officer of
Peerless Tube Co., a manufacturer of aerosol cans and collapsible metal
tubes.

Pursuant to Stock Purchase Agreements entered into as of July 23, 2001, EXX
has agreed to buy, and Mr. Campbell, Mr. Cirar, Ms. Gofrank, Mr. Lawson and
Mr. Smith have each agreed to sell the shares of common stock of Newcor
beneficially owned by them. Following consummation of the purchase of such
shares, EXX will own approximately 31.0% of the outstanding common stock of
Newcor. In connection with such transactions, Newcor has amended its
shareholder rights plan and its agreement with EXX to allow EXX to increase
its ownership stake in Newcor to up to 34.9%.

Mr. Campbell, Mr. Cirar, Ms. Gofrank, Mr. Lawson, Mr. Lousma and Mr. Smith
cited differences with other members of the Newcor board as to the future
course of Newcor as the reason for their resignations. "Newcor faces a
number of challenges as it moves forward and it is critical to Newcor's
prospects that its directors share the same fundamental vision. All of us
wish Newcor nothing but the best in the future," stated Mr. Lawson, former
Chairman of Newcor's Board of Directors.

"We thank the departing directors for their efforts on Newcor's behalf,"
commented Mr. Segal, Newcor's newly elected Chairman. "At the same time, we
are pleased that arrangements could be made for the purchase of their Newcor
holdings, so that we can avoid having those shares offered for sale in the
market and depressing the trading price of Newcor's common stock."

Newcor, Inc., headquartered in Bloomfield Hills, Michigan, designs and
manufactures precision machined and molded rubber and plastic products, as
well as custom machines and manufacturing systems. Newcor's common stock is
listed on the AMEX under the symbol NER.

EXX INC. is a holding company based in Las Vegas, Nevada, engaged in the
production and sale of electric motors sold to a variety of industries,
cable pressurization and monitoring equipment for the telecommunications
industry and toys. EXX's Class A common stock and Class B common stock is
listed on AMEX under the symbols EXXa and EXXb.