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Aaron Rents, Inc. Declares Semi-Annual Dividend; Increases Payout 54%


ATLANTA, Nov. 19 /PRNewswire-FirstCall/ -- The Board of Directors of Aaron Rents, Inc. (NYSE: RNT), the nation's leader in the rental, sales and lease ownership, and specialty retailing of residential and office furniture, consumer electronics and home appliances and accessories, has declared the Company's thirty-fifth consecutive semi-annual cash dividend. The dividend declared is $.02 per share on Common Stock and $.02 per share on Class A Common Stock, payable January 2, 2004, to shareholders of record as of the close of business on December 2, 2003.

The dividend declared represents a 54% increase over the previous semi- annual rate of $.013 per share. In August 2003 the Company also declared a 50% stock dividend on both Common Stock and Class A Common Stock, which had the effect of a 3 for 2 stock split.

"The Board of Directors felt it appropriate to increase our dividend payout at this time," said R. Charles Loudermilk, Sr., Chairman and Chief Executive Officer of Aaron Rents. "We anticipate record revenues and earnings for 2003, and our future growth prospects are excellent. Our balance sheet is extremely strong and we are confident that the Company can continue funding growth opportunities while increasing dividends to shareholders."

Aaron Rents, Inc. based in Atlanta, currently has over 800 Company- operated and franchised stores in the United States, Puerto Rico, and Canada for the rental and sale of residential and office furniture, accessories, consumer electronics and household appliances. The Company also manufactures furniture, bedding and accessories at 10 facilities in four states.

"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 which could cause actual results to differ materially from those contained in the forward-looking statements. These risks and uncertainties include factors such as changes in general economic conditions, competition, pricing, customer demand and other issues, and the risks and uncertainties discussed under "Certain Factors Affecting Forward Looking Statements" in the Company's Annual Report on Form 10-K for fiscal 2002, 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., +1-404-231-0011

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