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FIRST CASH REPORTS ACQUISITION OF FOUR STORES IN JACKSON, MISSISSIPPI

 ARLINGTON, Texas, Oct. 28 /PRNewswire/ -- First Cash, Inc. (NASDAQ: PAWN) announced that it has entered into an agreement to acquire four stores in Jackson, Mississippi. This acquisition will increase the Company's total number of stores to 30. As a result of this acquisition, the Company will have operations in three states. Two of the acquired stores are less than two years old and the other two stores are less than three months old. The four stores have aggregate outstanding loans of approximately $110,000 and an aggregate inventory of approximately $100,000. The purchase price of these four stores will be approximately $500,000.
 Mr. Powell, Chief Executive Officer, stated, "The acquisition of these four stores is directly on target with the Company's strategic plan to expand our store base and to diversify our store locations into additional geographic locations. This acquisition involves very young stores with enormous growth and profitability potential. We anticipate the aggregate loan balances will increase to $400,000 within the first year. Pawn laws in Mississippi are very favorable, which will provide the Company with excellent financial returns. In addition to this acquisition, we are currently identifying possible store locations in the western region of the United States."
 Mr. Powell further stated that on Oct. 20, 1993 the Company filed a registration statement on Form S-1 to register 590,000 shares of common stock to be purchased by Partridge Capital Corporation from John R. Payne, Robert Hudiburg, Tommy Abbott, and their affiliates for a price of $4.00 per share. The Company will receive no proceeds from this offering.
 -0- 10/28/93
 /CONTACT: Mary Ann Jost, Investor Relations of First Cash, Inc., 817-633-7296/
 (PAWN)


CO: First Cash Inc. ST: Texas IN: REA SU: TNM

WB -- NY096 -- 7972 10/28/93 13:23 EDT
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Publication:PR Newswire
Date:Oct 28, 1993
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