RentWay Announces Additional New Store Openings

RentWay Announces Additional New Store Openings 


ERIE, Pa., Nov. 11  /PRNewswire-FirstCall/ -- Rent-Way, Inc. (NYSE:RWY) today
announced that it has opened 10 new stores in the following cities over the
past 60 days:

   Albuquerque, New Mexico         Clarksville, Indiana
   Flagstaff, Arizona              Philadelphia, Pennsylvania
   Winslow, Arizona                Bridgeport, Connecticut
   Harrison, Arkansas              Lawrence, Massachusetts
   Lexington, Tennessee            New Bedford, Massachusetts



The company expects to open 4-6 additional stores by December 31, 2004. "We
have accelerated our store opening plans for 2005," said William Morgenstern,
CEO of Rent-Way, Inc.  "At this time we expect to open approximately 30-40
additional stores over the next 12 months.  There are many markets where we can
leverage our multi-unit management team and existing advertising coverage.  We
expect these new stores to enhance our operating margins once they ramp up in
12 to 16 months."

Todd Homberger, VP of new stores, said, "We have put together a first rate new
store opening plan that includes a rigorous challenge process for site
location, staffing and financial expectations.  Each site undergoes very
intense demographic and competitive research before its opening is approved by
our senior management team.  I am excited about what we see in the pipeline for
2005."

The company intends to give financial guidance for core operations, new store
expectations and combined company forecast during its earnings call later this
month or early December.

About Rent-Way

Rent-Way is one of the nation's largest operators of rental-purchase stores. 
Rent-Way rents quality name brand merchandise such as home entertainment
equipment, computers, furniture and appliances from 761 stores in 33 states. 

DATASOURCE: Rent-Way, Inc.



CONTACT:  Bill Morgenstern of Rent-Way, Inc., [phone]



Web site:  http://www.rentway.com/

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