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Aaron Rents, Inc. Names Kenneth A. Mallernee Corporate Real Estate Counsel


ATLANTA, Aug. 28 /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 that Kenneth A. Mallernee has been named corporate real estate counsel for the Company.

Mr. Mallernee previously was general counsel for M&H Properties, Ltd., an Atlanta-based company, and all related entities, who, together operate numerous properties throughout the country. In this position, he served as the company's legal advisor in all aspects of the business and had significant involvement in commercial and residential real estate transactions.

"We are very pleased to have Ken Mallernee bring his specialized knowledge and experience in real estate to Aaron Rents," said R. Charles Loudermilk, Sr., Chairman and Chief Executive Officer of the Company. "His area of expertise is especially important to us as we continue the rapid expansion of our rental purchase stores across America with the fastest rate of store openings in our history occurring this year. We are now opening a new store about every six days."

Mr. Mallernee received a B.B.A. in finance from Kent State University in 1986 and the juris doctorate from the University of Akron School of Law in 1989. His experience includes serving as associate attorney with law firms in Cleveland, Ohio, and Charlotte, North Carolina, and corporate counsel for Title Loans of America, Inc., Atlanta, prior to joining M&H Properties, Ltd. in 1997. He is a member of the State Bar of Georgia, the Florida Bar, the American Corporate Counsel Association, and the Atlanta Bar Association.

Aaron Rents, Inc., based in Atlanta, currently has more than 515 Company- operated and franchised stores in 39 states for the rental and sale of residential and office furniture, accessories, consumer electronics and household appliances. The Company manufactures furniture, bedding and accessories at 10 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, Chief Financial Officer of Aaron Rents, Inc., 404-231-0011/

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