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AARON RENTS DIVESTS BALL STALKER TO CONCENTRATE ON CORE RENTAL BUSINESS

 ATLANTA, June 8 /PRNewswire/ -- Aaron Rents, Inc. (NASDAQ: ARONA ARONB), the nation's largest furniture rental and sales company, today announced that it has reached an agreement to sell its Ball Stalker contract furniture subsidiary to Atlanta-based Corporate Environments, Inc. in a cash transaction.
 Terms were not disclosed.
 "The divesting of this high-end office furniture retailer allows Aaron Rents to concentrate totally on its core business of rental and rental purchase for a far larger market in which we are enjoying strong growth and profitability," said R. Charles Loudermilk Sr., chairman and chief executive officer of the company. "The sale of Ball Stalker will have no effect on earnings for the current quarter or fiscal year," Loudermilk said.
 "We are very pleased that such a well respected company as Corporate Environments has acquired Ball Stalker. With the acquisition, this Atlanta-based firm becomes one of the largest distributors of contract office furniture in the country."
 Ball Stalker, acquired by Aaron Rents in 1987, had fiscal 1993 revenues of approximately $16 million, or slightly more than 10 percent of the company's record fiscal 1993 revenues of $157.6 million, and the subsidiary has not contributed to earnings in recent years. In the last fiscal year, the company elected to write off the remaining $1.4 million of goodwill associated with the purchase of Ball Stalker to more accurately value the company's investment in the subsidiary.
 Aaron Rents, Inc., based in Atlanta, at present operates 160 stores in 20 states for the rental and sale of residential and office furniture and equipment. The company also produces furniture at five plants in Georgia and Florida.
 -0- 6/8/93
 /CONTACT: Gilbert L. Danielson, vice president-Finance and chief financial officer of Aaron Rents, 404-231-0011/
 (ARON)


CO: Aaron Rents, Inc.; Ball Stalker; Corporate Environments, Inc. ST: Georgia IN: REA SU: TNM

RA-BN -- AT006 -- 6573 06/08/93 12:34 EDT
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Publication:PR Newswire
Date:Jun 8, 1993
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