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Aaron Rents, Inc. Opens San Diego Store to Serve Interim Housing Companies

03/23/1999

"This is the biggest segment of our growth in volume," said Brian Stahl, President of the Rent-to-Rent division of Aaron Rents. "Our new warehouse type facility in San Diego will service our national and corporate customers in California. The opportunity is tremendous in California where numerous companies need furnishings for interim housing for relocating employees. We hope to take advantage of this opportunity and expand our furniture rental business throughout the state."

This is the third warehouse type facility Aaron Rents has opened in the past year to meet the growing demands of its national accounts. The other two facilities, which offer both residential and office furniture, are located in Philadelphia and Chicago.

The Aaron's service center concept allows corporate customers to order merchandise by telephone or facsimile. The customers are third party companies, national accounts and corporations that acquire furniture, housewares and other items to furnish apartments for large businesses needing interim housing for employees.

Aaron Rents reported record revenues of $379.7 million for 1998, up 22%, and record earnings of $21.5 million or $1.04 per share (assuming dilution), up 17% for the year.

Based in Atlanta, Aaron Rents, Inc. currently has a total of 438 owned and franchised stores in 36 states for the rental and sale of residential and office furniture and accessories, consumer electronics and household appliances. The Company manufactures furniture, bedding and accessories at 11 facilities in four states.

Note: Forward-looking statements in this news release are based on current expectations and are subject to risks and uncertainties, and actual results may vary materially from the expectations due to such factors as changes in general economic conditions, competition, pricing, customer demand and other issues.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this news release regarding Aaron Rents, Inc.'s business which are not historical facts are forward-looking statements that involve risks and uncertainties and which could cause actual results to differ from those contained in the forward-looking statements. For a discussion of such risks and uncertainties, see "Risk Factors" in the Company's Annual Report on Form 10-K for fiscal 1997, which discussion is incorporated herein by this reference.

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