Newcor, Inc. to Review Unsolicited Exchange Offer by EXX Inc

1 May 2000
Newcor, Inc. to Review Unsolicited Exchange Offer by EXX Inc
    BLOOMFIELD HILLS, Mich., May 1 Newcor, Inc. (Amex: NER)
announced today that EXX Inc issued a press release and made public filings
with the Securities and Exchange Commission on Friday, April 28, 2000 with
respect to its intention to commence an exchange offer for all of the
outstanding common shares of Newcor for an undetermined amount of Class A
common stock of EXX and/or cash with a purported value of $4.00 per share.
The proposed exchange offer is subject to numerous conditions.  At this time,
no such offer has been formally commenced.  The materials filed by EXX with
the SEC have been referred to the Newcor Board of Directors for its review.
    According to EXX's public filings, EXX is a Las Vegas, Nevada-based
holding company engaged in the design, production and sale of "impulse toys",
watches, kites, electric motors and cable pressurization equipment with net
sales for the year ended December 31, 1999 of $21.2 million.
    Newcor urges all of its stockholders to take no action with respect to
this unsolicited offer until its Board of Directors has had an opportunity to
fully review and analyze the materials filed by EXX with the SEC.  In the
event EXX commences its exchange offer, the Board of Directors will formally
respond to such offer as required by the rules and regulations of the SEC.
Such a response would be sent to Newcor's stockholders as promptly as possible
but not later than 10 business days after EXX formally commenced any such
exchange offer.
    Newcor has retained Donaldson, Lufkin & Jenrette as its financial advisor,
and Skadden, Arps, Slate, Meagher & Flom (Illinois) as its legal counsel, to
assist the Board in evaluating EXX's proposal.
    Newcor is a leading manufacturer of precision machined components and
assemblies for the automotive, medium- and heavy-duty truck and agricultural
vehicle industries and is a manufacturer of custom rubber and plastic products
primarily for the automotive industry.  Newcor is also a supplier of standard
and custom machines and systems primarily for the automotive and appliance
industries.
    This news release is for informational purposes only.  It does not
constitute a solicitation/recommendation statement under the rules and
regulations of the SEC.  Newcor's stockholders will be able to obtain such
solicitation/recommendation statements for free when it becomes available at
the SEC's web site at http://www.sec.gov.  Newcor urges its stockholders to carefully
review any such solicitation/recommendation statement prior to making any
decisions with respect to any such offer.