Aaron Rents, Inc. Reports Record Revenues and Earnings

ATLANTA - (March 15, 1999) - Aaron Rents, Inc., one of the nation's leading furniture rental and sales companies, today announced record revenues and earnings for both the fourth quarter and year 1998. This marked the Company's seventh consecutive year of record growth in revenues and earnings.

For the three months ended December 31, 1998, revenues advanced 21% t a record $97.1 million compared to $80.6 million for the corresponding 1997 period. Net earnings gained 24% t $5.7 million versus $4.6 million. Earnings per share rose to $.28 ($.27 assuming dilution) compared to $.25 ($.24 assuming dilution) for the fourth quarter of 1997.

Revenues for the year ended December 31, 1998, increased 22% t $379.7 million compared to $310.8 million for 1997. Earnings rose 17% t a record $21.5 million versus $18.4 million. Earnings per share reached $1.06 ($1.04 assuming dilution) compared to $.96 ($.94 assuming dilution) for 1997.

Aaron's Rental Purchase division's revenues increased 33% t $53.3 million for the fourth quarter of 1998 versus $40.2 million for the 1997 quarter. For the year Aaron's Rental Purchase revenues rose 38% t $200.0 million compared to $144.4 million for 1997. Systemwide revenues for the Company, including revenues of rental purchase franchised stores, were up 26% t $120.9 million for the quarter and up 27% to $464.2 million for the year compared to 1997.

Aaron Rents, Inc., based in Atlanta, currently has a total of 438 owned and franchised stores in 36 states for the rental and sales of residential and office furniture and accessories, consumer electronics and household appliances. The Company manufactures furniture, bedding, and accessories at 11 facilities in four states.

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