First Cash Announces 62 Percent Increase in Net Income During Third Quarter of FY 1996.

ARLINGTON, Texas--(BUSINESS WIRE)--June 4, 1996--First Cash, Inc. (Nasdaq Stock Market: "PAWN") today reported record revenues and net income for the third quarter of its 1996 fiscal year.

During the three-month period ended April 30, 1996, the Company's revenues approximated $9.7 million, compared with revenues of $8.3 million in the corresponding period of the previous fiscal year. Net income rose to $330,000 vs. $204,000 in the prior-year period, for a 62 percent gain. On a per-share basis, First Cash earned $0.08 in the February-April 1996 quarter, for a 33 percent gain when compared with $0.06 per share in the year-earlier period. The average number of shares outstanding increased 7 percent to 3,945,000 (vs. 3,695,000) in the most recent quarter. This increase was due to the impact of the increase in the market price of the Company's stock on its common stock equivalents, which increased the Company's share count during the quarter because of the dilutive effect of outstanding options and warrants that have exercise prices that are now below the current market price.

For the nine months ended April 30, 1996, First Cash reported a 21 percent increase in revenues, which reached $28.5 million, compared with $23.5 million in the year-earlier period. Net income increased to $1,104,000 ($.29 per share) during the first nine months of the Company's 1996 fiscal year, vs. a net profit of $852,000 ($0.23 per share) in the nine months ended April 30, 1995. This represents a 30 percent gain in net income and a 26 percent increase in earnings per share.

The 17 percent, or $1,380,000 increase in third quarter revenues reflected a $1,262,000, or 16 percent increase in same-store revenues at the Company's 41 stores in operation during the third quarters of both FY1995 and FY1996. The remaining increase of $118,000 was contributed by three stores opened or acquired subsequent to Feb. 1, 1995, net of the consolidation of one store.

Pawn loans outstanding increased 10 percent, from $8.5 million at April 30, 1995 to $9.3 million at April 30, 1996. On a same-store basis, loans at the 41 stores which were open at both April 30, 1995 and April 30, 1996 grew 8 percent, or $679,000. The three new stores opened or acquired since April 30, 1995 (net of one store consolidated into another) contributed approximately $163,000 to the Company's overall loan portfolio as of April 30, 1996.

Rick Powell, the company's Chairman and Chief Executive Officer, stated that "management was pleased with the Company's operating performance during the most recent quarter. In the first nine months of fiscal 1996, First Cash has surpassed its net income for all of the prior fiscal year. With the May 1996 acquisition of a three-store chain of pawnshops in Baltimore, Maryland, the Company has entered what management considers to be a promising new market. We remain committed to an aggressive high growth strategy for our company."

First Cash, Inc. is engaged in the acquisition, establishment and operation of pawn stores, which lend money on the collateral of pledged personal property and retail previously-owned merchandise acquired through loan forfeitures. The Company currently operates 47 stores in Texas, Oklahoma, Maryland and Washington, D.C. Its common stock is traded on the Nasdaq Stock Market under the symbol "PAWN". -0-

                    SELECTED OPERATING INFORMATION
                    ------------------------------
                   (In thousands, except per share)

                             Quarter Ended       Nine Months Ended
                          --------------------  --------------------
                          April 30,  April 30,  April 30,  April 30,
                            1996       1995       1996       1995
                          ---------  ---------  ---------  ---------
Revenues:
 Merchandise sales        $   6,474  $   5,480  $  18,884  $  14,987
 Pawn service charges         3,242      2,826      9,533      8,330
 Other                           12         42         43        150
                          ---------  ---------  ---------  ---------
                              9,728      8,348     28,460     23,467
                          ---------  ---------  ---------  ---------

Cost of goods sold            4,374      3,748     12,736      9,609
Operating expenses            4,816      4,278     13,923     12,507
                          ---------  ---------  ---------  ---------
                              9,190      8,026     26,659     22,116
                          ---------  ---------  ---------  ---------
Income before income taxes      538        322      1,801      1,351
Provision for income taxes      208        118        697        499
                          ---------  ---------  ---------  ---------
Net income                $     330  $     204  $   1,104  $     852
                          =========  =========  =========  =========

Earnings per share        $    0.08  $    0.06  $    0.29  $    0.23
                          =========  =========  =========  =========

Weighted average common
 shares outstanding           3,945      3,695      3,754      3,732
                          =========  =========  =========  =========

CONTACT: First Cash, Inc.

Rick Powell (CEO) or Rick Wessel (CFO), 817/460-3947