Wellco Enterprises, Inc. Announces Death of Major Shareholder and Director, and Change in Control

Wellco Enterprises, Inc. (AMEX: WLC) today announced
that the death on June 14, 2005 of Mr. James T. Emerson, formerly the
majority owner of the common shares of Wellco and a director, has
resulted in a change in control of Wellco as well as a vacancy on its
Board of Directors.
   Based on a Schedule 13D received by the Registrant on June 30,
2005, Sarah E. Lovelace, as Executor of the Estate of James T.
Emerson, deceased, is the beneficial owner of 747,084 of the common
shares of the Registrant. These 747,084 shares represent 58.8% of the
total issued and outstanding common shares of the Registrant. As
executor of the Estate, Sarah E. Lovelace has sole power to vote and
to dispose of these 747,084 shares.
   As provided by the Registrant's Charter, the remaining members of
the Board of Directors (eight persons) may by majority vote fill the
vacancy until the next annual meeting of shareholders (November 15,
2005). To date, the remaining members of the Board of Directors have
not filled the vacancy.