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Aaron's Rental Purchase Announces New Vice Presidents

01/12/2000

ATLANTA, Jan. 12 /PRNewswire/ -- The Aaron's Rental Purchase division of Aaron Rents, Inc. (NYSE: RNT) announces the appointment of two new vice presidents to newly created positions in operations as the result of rapid growth of the division.

Ken Butler, President of Aaron's Rental Purchase division, announced that Joe Fedorchak was appointed Vice President, Eastern Operations and Dave Buck was named Vice President, Western Operations, in the new management organization.

"Both Joe and Dave have been instrumental in bringing Aaron's to the forefront of the industry," Butler said. "Their new positions of responsibility give us the operational management needed to keep Aaron's moving forward at a fast pace. These promotions reflect our record growth in the past few years and our strategic plan for continuing the strong expansion of Company-operated stores."

Aaron's Rental Purchase has grown from 49 stores at the end of 1993 to 369 stores currently including 213 Company-operated and 156 franchised stores. The division is opening stores at the rate of about one every week and expects to accelerate store openings this year.

Fedorchak, who was Regional Manager of the Florida Region for the past 12 years, has responsibility for the new Eastern Operations that include the Company-operated rental purchase stores in the Eastern Time zone. Starting with the Rent-to-Rent division of Aaron Rents in 1983, Fedorchak rose to District Manager and transferred to the Rental Purchase division, then became Regional Manager over Florida in 1987.

Buck, previously Regional Manager of the Southwest Region for almost 10 years will oversee the Western Operations including Company-operated stores in the Central Time zone and westward to the coast. In 1989 Buck began his career with Aaron's, opening one of two stores in the Greater Houston area before being promoted to Regional Manager for the Southwest Region.

Also announced by Butler were the following promotions: Wayne Hopper to Regional Manager, Southwest, succeeding Buck; Tristan Montanero to Regional Manager, Florida, succeeding Fedorchak; Kevin Hrvann to Regional Manager of a new Mid-Atlantic Region; and Dave Boggan to Regional Manager of a new region covering the Midwest, Louisiana, Mississippi, Alabama and Memphis and Nashville, Tennessee.

Aaron Rents, Inc., based in Atlanta, is the leader in rental, rental purchase and the specialty retailing of residential and office furniture, consumer electronics and home appliances with 476 Company-operated and franchised profit centers nationwide The Company manufactures furniture, bedding and accessories at 11 plants 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 statement" 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 1998, 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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