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Aaron Rents, Inc. Declares Another 3-for-2 Stock Split

07/12/2004

ATLANTA, July 12 /PRNewswire-FirstCall/ -- 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, today announced that the Board of Directors of the Company has declared a 3-for-2 stock split that will be effected in the form of a 50% stock dividend on both Common Stock (RNT) and Class A Common Stock (RNT.A).

The holders of both Common Stock and Class A Common Stock will receive 1/2 new share for each share held. The stock dividend will be distributed on August 16, 2004 to shareholders of record as of the close of business on August 2, 2004. Based upon the total number of outstanding shares of Common Stock and Class A Common Stock as of June 30, 2004, the stock dividend will increase the outstanding shares of Common Stock to approximately 41.2 million shares and increase the outstanding shares of Class A Common Stock to approximately 8.4 million shares.

"This 50% stock dividend follows a similar 50% stock dividend in August of 2003," said R. Charles Loudermilk, Sr., Chairman and Chief Executive Officer of Aaron Rents. "We feel the stock dividend will continue to help broaden the Company's shareholder base and further strengthen the marketability of its shares, and is a reflection of our strong performance and outlook for the future."

Aaron Rents Common Stock has more than doubled in share value over the past 24 months.

Aaron Rents will release its second quarter earnings after the close of the market on July 28, 2004. The Company will hold a conference call to discuss its quarterly financial results on Wednesday, July 29, 2004, at 10:30 am Eastern Time. The public is invited to listen in to the conference call by webcast accessible through the Company's website, http://www.aaronrents.com , in the "Investor Relations" section. The webcast will be archived for playback at that same site.

Aaron Rents, Inc., based in Atlanta, currently has over 945 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 2003, 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., +1-404-231-0011, ext. 3314

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