Bestway, Inc. Announces Second Amended and Restated Revolving Credit Loan Agreement and Subordinated Note Extension Agreement

Bestway, Inc. Announces Second Amended and Restated Revolving
Credit Loan Agreement and Subordinated Note Extension Agreement 


DALLAS, Aug. 17  /PRNewswire-FirstCall/ -- Bestway, Inc. (NASDAQ:BSTW) today
announced that the Company amended and restated its Revolving Credit Loan
Agreement with Comerica Bank.  In the amendment, Comerica extended the maturity
date from May 31, 2006 to May 31, 2007 and modified certain covenants relating
to Interest Coverage Ratio and Profitability, as well as increased the
aggregate amount for Capital Expenditures and Acquisitions.

The Company also amended the subordinated note payable to O'Donnell & Masur,
L.P. dated October 26, 2001.  The amendment extended the maturity date from May
31, 2006 to May 31, 2007.

"We believe there are great opportunities to expand our presence in the
rent-to-own industry," said David A. Kraemer, President and Chief Executive
Officer.  "The amendment opens the door to develop strategic initiatives aimed
at expansion through new store openings, as well as afford us the opportunity
to aggressively pursue acquisitions that complement our existing stores and
meet our return on investment criteria."

Bestway, Inc. owns and operates a total of sixty-nine rent-to-own stores
located in the southeastern United States.  These stores generally offer high
quality brand name merchandise such as home entertainment equipment,
appliances, furniture and computers under flexible rental purchase agreements
that generally allow the customer to obtain ownership of the merchandise at the
conclusion of an agreed upon rental period.

This press release and the guidance above contain various "forward-looking
statements" that involve risks and uncertainties.  Forward-looking statements
represent the Company's expectations or beliefs concerning future events.  Any
forward-looking statements made by or on behalf of the Company are subject to
uncertainties and other factors that could cause actual results to differ
materially from such statements.  These uncertainties and other factors
include, but are not limited to, (i) the ability of the Company to open or
acquire additional rental-purchase stores on favorable terms, (ii) the ability
of the Company to improve the performance of such acquired stores and to
integrate such opened or acquired stores into the Company's operations, (iii)
the impact of state and federal laws regulating or otherwise affecting rental-
purchase transactions, (iv) the impact of general economic conditions in the
United States and (v) the impact of terrorist activity, threats of terrorist
activity and responses thereto on the economy in general and the rental-
purchase industry in particular.  Undue reliance should not be placed on any
forward-looking statements made by or on behalf of the Company as such
statements speak only as of the date made.  The Company undertakes no
obligation to publicly update or revise any forward-looking statement, whether
as a result of new information, the occurrence of future events or otherwise. 

DATASOURCE: Bestway, Inc.



CONTACT:  Beth A. Durrett, Chief Financial Officer,

 , or David A. Kraemer, President and Chief Executive

Officer,  , both of Bestway, Inc., [phone]

Copyright