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AARON'S RENT-TO-OWN ANNOUNCES 14 NEW STORES TO BE OPENED

 ATLANTA, April 19 /PRNewswire/ -- Aaron's Rent-To-Own(R), an operating division of Aaron Rents, Inc. (NASDAQ: ARONA ARONB), the nation's largest furniture rental and sales company, today announced that at least 14 new rent-to-own stores operated by the company will be opened by mid-August.
 Negotiations are underway for even additional store locations, and the company's rent-to-own franchise program continues to expand with three new franchises.
 "The construction agreements have been signed for 14 new company- owned stores, and we expect to sign seven more locations soon," said R. Charles Loudermilk Sr., chairman and chief executive officer of Aaron Rents, Inc. "That would give us a total of at least 60 company-owned rent-to-own stores by December this year."
 Aaron's Rent-To-Own(R) currently operates 44 stores, an increase of 42 percent over the 31 stores operated by the division less than one year ago when a program of rapid expansion began.
 The rent-to-own franchise program, which was launched a year ago, has awarded its eighth, ninth and 10th franchises in Columbus, Ga., Albany, Ga., and Syracuse, N.Y.
 "We are impressed with the market demand for rent-to-own, and we are pleased with the acceptance of our new franchise program," Loudermilk said. "Our strategy is to continue a strong rate of expansion."
 The company's approach calls for locating company-owned stores in major metropolitan areas, while awarding franchises in smaller markets with strong growth potential. Studies by the Association of Progressive Rental Organizations (APRO) show that 30 percent of Americans are prospective rent-to-own customers, and that only about 25 percent of the market has been captured.
 Loudermilk said Aaron Rents has advantages in producing its own line of furniture at five manufacturing plants and offering a unique 12-month rent-to-own plan, a highly successful approach contrasting the 18-month industry practice.
 Aaron Rents, Inc., based in Atlanta, operates more than 155 stores in 20 states for the sale and rental of residential and office furniture and equipment. The company produces furniture for its rental stores at five plants in Georgia and Florida and recently opened its first business equipment rental stores in Atlanta and Alexandria, Va.
 -0- 4/19/93
 /CONTACT: Gilbert L. Danielson, vice president, Finance, and chief financial officer of Aaron Rents, 404-231-0011/
 (ARON)


CO: Aaron Rents, Inc. ST: Georgia IN: REA SU:

BN-BR -- AT004 -- 7222 04/19/93 09:34 EDT
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Publication:PR Newswire
Date:Apr 19, 1993
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