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Newcor, Inc. to Extend Distribution Date Under Rights Agreement

14 July 2000

Newcor, Inc. to Extend Distribution Date Under Rights Agreement

    BLOOMFIELD HILLS, Mich. - Newcor, Inc. announced today that on June 29, 2000 
EXX Inc and David A. Segal, EXX's Chief Executive Officer and majority 
shareholder, filed an amendment to their combined Schedule 13D disclosing that 
EXX and Segal may be deemed to beneficially own 15.1% of Newcor, Inc.'s common 
stock and acknowledging that such beneficial ownership may trigger the "anti-
takeover provisions of Newcor's rights agreement."

    Under the terms of Newcor's rights agreement, the acquisition of 15% or
more of Newcor's common stock triggers a 10 business day period leading to the
"Distribution Date," the date after which holders of Newcor common stock can
exercise their rights under the rights agreement.  The Board of Directors of
Newcor has determined to extend the Distribution Date with respect to EXX and
all its affiliates and associates to August 4, 2000.  Similarly, Newcor's
Board has extended its time to redeem the rights to August 4, 2000.

    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 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.