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Aaron Rents Begins Production at Texas Furniture Manufacturing Facility

10/04/2000

ATLANTA, Oct. 4 /PRNewswire/ -- Aaron Rents, Inc. (NYSE: RNT), the nation's leader in the rental, rental purchase and specialty retailing of residential and office furniture, consumer electronics and home appliances, today announced the startup of a new office and residential furniture manufacturing plant in Sugarland, Texas. This is the Company's 11th manufacturing facility.

The plant in suburban Houston enables the Company to increase its furniture manufacturing capacity to meet the demands of the growing number of stores in the Western United States. The Company has nearly 100 stores in Texas alone.

"This new plant will facilitate our growth in the West with faster delivery to our stores in Texas, the other states in the region and in California," said R. Charles Loudermilk, Sr., Chairman and Chief Executive Officer.

By early December, the plant should be in full production with approximately 100 employees at work, Mr. Loudermilk said. "We also plan over the next year to double the size of the building to approximately 300,000 square feet by adding on a new distribution center for Aaron's Rental Purchase stores. This will support our continuing strong growth in the region."

The Company plans to open its seventh distribution center in Winston- Salem, N.C. in early December and expects to add distribution centers in the Kansas City and Phoenix areas during the next year, Mr. Loudermilk said.

"Our nationwide network of distribution centers is a key part of our strategy to maintain competitive advantages in our markets," Mr. Loudermilk said. "In the rental purchase business, same-day or next-day delivery is demanded by the customer, and our system of distribution centers, combined with our fleet of delivery trucks, enables us to meet that demand. Our Company is the only one in the industry with its own distribution and manufacturing capabilities. This is one of the major factors behind our ability to open approximately 80 new stores by the end of this year, a more than 20 percent increase in store count over last year."

The Company on September 28 announced its initial expansion outside the U.S. mainland with the acquisition of a privately held chain of 10 rental purchase stores in the Commonwealth of Puerto Rico, considered an excellent market for the Aaron's Rental Purchase concept. Plans are to open five more stores in Puerto Rico within the next 18 months.

Aaron Rents, Inc., based in Atlanta, currently has more than 530 Company- operated and franchised stores in 39 states and Puerto Rico for the rental and sale of residential and office furniture, 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 1993: 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 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 1999, which discussion is incorporated herein by this reference. SOURCE Aaron Rents, Inc.

CONTACT: Gilbert L. Danielson, Executive Vice President and Chief Financial Officer of Aaron Rents, Inc., 404-231-0011/

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