June 21, 2010 16:32 ET

EXX INC Announces Cash Out Merger

Stockholders to Receive $1.55 per Share; EXX Now a Privately Held Company

LAS VEGAS, NV--(Marketwire - June 21, 2010) -  EXX INC (PINKSHEETS: EXEXA) (PINKSHEETS: EXEXB) today announced that EXX INC has been taken private by its Chairman of the Board in a cash out merger. Stockholders will receive $1.55 per share for each EXX-A and EXX-B share.

Under the rules and regulations of the Financial Industry Regulatory Authority (FINRA) trading in EXX-A and EXX-B shares has been terminated as of close of business June 21, 2010. By virtue of the merger, all EXX-A and EXX-B shares other than those owned directly by the Chairman of the Board have been retired. A notice to Stockholders will be sent shortly including a Letter of Transmittal for stockholders to surrender their retired shares for cancelation and receipt of the cash payment of $1.55 per share.