Aaron Rents, Inc. Makes Strategic Expansion With Acquisition of Stores In Louisiana and Texas (2/01)

Aaron Rents, Inc., the nation's leader in the rental, rental purchase and specialty retailing of residential and office furniture, consumer electronics and home appliances, today announced the cash acquisition of nine rental stores in Louisiana and Texas. These stores will become part of the fast-growing Aaron's Rental Purchase division.

"This is an important strategic acquisition that complements our already large base of Aaron's stores in this highly desirable market," said R. Charles Loudermilk, Sr., Chairman and Chief Executive Officer of Aaron Rents. "With this acquisition we will now have a total of over 118 stores in the states of Texas and Louisiana."

The stores acquired are located in Beaumont and Groves, Texas and New Iberia, Lake Charles, Opelousas, Jennings, Eunice, and Lafayette, Louisiana.

"The addition of these nine stores further accelerates our growth plan for 2001, building upon our acquisition of 10 stores in Puerto Rico last September and the purchase of over 25 real estate leases of former Heilig-Meyers stores in December," Mr. Loudermilk said.

Aaron Rents, Inc., based in Atlanta, currently has more than 570 Company- operated and franchised stores in 42 states and Puerto Rico for the rental and sale of residential and office furniture, accessories, consumer electronics and household appliances. The Company also manufactures furniture, bedding and accessories at 10 facilities in four states.