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BESTWAY RENTAL COMPLETES ACQUISITION OF 12 STORES IN MISSISSIPPI

 DALLAS, Sept. 24 /PRNewswire/ -- Bestway Rental, Inc. today announced that it has completed the acquisition of 12 rent-to-own stores in Mississippi. Bestway's President, Jack Morgan, stated, "The acquisition would provide the company with an immediate presence in the rent-to-own industry in Mississippi."
 Morgan also stated, "For the last several years the company has concentrated on its existing store operations where it has experienced in excess of 30 percent annual improvements in same store sales. We are now in a position to begin our expansion into new markets. Mississippi is the first step in that program and we are very excited about the growth opportunities it offers our company."
 Morgan explained, "The purchase price was approximately $1.95 million and all the funds were available under an existing line of credit with our bank."
 Bestway currently owns and operates 42 stores in five states.
 -0- 9/24/93
 /CONTACT: Beth A. Durrett, vice president/controller of Bestway Rental, Inc., 214-630-6655/


CO: Bestway Rental, Inc. ST: Texas, Mississippi IN: REA SU: TNM

CK -- NY073 -- 5561 09/24/93 16:47 EDT
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Publication:PR Newswire
Date:Sep 24, 1993
Words:179
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