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Aaron Rents, Inc. Purchases 3 Franchised Stores in South Carolina

05/12/1999

The stores are in Charleston, North Charleston and Summerville, S.C. They were purchased from franchise owner Aaron's Furniture of Charleston.

``These stores are in good locations and offer us the opportunity to grow our business through established customer bases and a strong market area,'' said R. Charles Loudermilk, Sr., Chairman and Chief Executive Officer of Aaron Rents.

The Company acquired four franchised stores in April, including three in the Baton Rouge and Lafayette, Louisiana markets, and one in Conroe, Texas. A total of seven franchised stores in Virginia, Maryland and New Jersey were acquired by the Company earlier in the year.

Aaron Rents announced in April it plans to open an additional 15 to 20 Company-operated rental purchase stores during the remainder of 1999, increasing from the original planned openings of 10 to 15 stores. The Company said it expects to open at least 30 new franchised stores from May through December of this year.

Based in Atlanta, Aaron Rents, Inc. currently has a total of 445 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 eleven 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 1955: 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 1998, which discussion is incorporated herein by this reference.

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