WLC Wellco Enterprises

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.