Release Details

Plano, Texas, April 05, 2001. - Rent-A-Center, Inc. (NASDAQ/NNM:RCII) today announced the filing of a registration statement with the Securities and Exchange Commission for a public offering of 4,400,000 shares of its common stock, 2,200,000 of which will be offered by Rent-A-Center and 2,200,000 of which will be offered by selling stockholders. Rent-A-Center anticipates using approximately $50.0 million of the net proceeds to pay down existing long-term debt. The offering will be led by Morgan Stanley & Co. Incorporated and co-managed by Bear, Stearns & Co. Inc., Lehman Brothers, Inc. and The Robinson-Humphrey Company, LLC.

Rent-A-Center is the largest rent-to-own operator in the United States with an approximate 27% market share based on store count. At March 31, 2001, Rent-A-Center operated 2,179 stores and franchised 359 stores, located in 50 states, the District of Columbia and Puerto Rico.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This announcement shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

Copies of the prospectus relating to the offering may be obtained, when available, from Morgan Stanley & Co. Incorporated, 1585 Broadway, New York, New York 10036.

Contacts for Rent-A-Center, Inc.:

Mark Speese, Chief Executive Officer
Chairman of the Board
(972) 801-1199
mspeese@racenter.com

Mitchell E. Fadel, President
(972) 801-1114
mfadel@racenter.com

Robert D. Davis, Chief Financial Officer
(972) 801-1204
rdavis@racenter.com