RWY Rent Way

Rent-Way Announces Commencement of Exchange Offer ERIE, Pa., Dec. 29 /PRNewswire-FirstCall/ -- Rent-Way, Inc. announced today the commencement of an exchange offer for its 11 7/8% Senior Secured Notes due 2010. Pursuant to the exchange offer, $205 million of Rent- Way's 11 7/8% Senior Secured Notes due 2010, which have been registered under the Securities Act of 1933, as amended, are being offered for exchange for $205 million of its outstanding 11 7/8% Senior Secured Notes due 2010, which were issued on June 2, 2003 in a transaction exempt from registration. The exchange offer will expire at 5:00 p.m., New York City time, on January 29, 2004. The newly issued notes have substantially identical terms to the previously outstanding notes, except that the new notes have been registered under the Securities Act of 1933 and will not be subject to restrictions on transfer. The exchange offer was made to satisfy Rent-Way's obligations under a registration rights agreement entered into with the initial purchaser of the outstanding notes at the time such notes were originally issued. Manufacturers and Traders Trust Company will act as exchange agent for the exchange offer. Rent-Way has filed a registration statement, including a prospectus and other related documents, on Form S-4 with the United States Securities and Exchange Commission in connection with this exchange offer. The terms of the newly issued notes are set forth in the prospectus. This news release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sale of securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. 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 753 stores in 33 states. DATASOURCE: Rent-Way, Inc. CONTACT: William E. Morgenstern of Rent-Way, Inc., +1-814-455-5378 Web site: http://www.rentway.com/

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