Release Details

PLANO, Texas--(BUSINESS WIRE)--May 24, 2004--Rent-A-Center, Inc. (the "Company") (NNM:RCII) announced today that Richard K. "Dick" Armey has been named to its Board of Directors. Congressman Armey served the nation for 18 years in the U.S. House of Representatives, culminating in eight years as Majority Leader. During that time, he served as the ranking Republican on the Joint Economic Committee, Chairman of the Republican Conference and most recently as Chairman of the Select Committee on Homeland Security. Congressman Armey earned his Ph.D. in Economics from the University of Oklahoma, his Masters degree from the University of North Dakota and his Bachelor of Arts from Jamestown College.

"Dick Armey is an outstanding addition to our Board of Directors," stated Mark E. Speese, Chairman of the Board and Chief Executive Officer of the Company. "His experience in governmental affairs and economics speaks for itself, and his perspective should prove to be invaluable to the Company," Speese said.

"I am very pleased to be joining the Board of Directors of Rent-A-Center," said Congressman Armey. "The Rent-A-Center management team has established the leading name in its industry. I am pleased to become part of such a talented organization experiencing clear, positive momentum under the leadership of Mark Speese," he concluded.

In addition to joining the Board of Directors, the Company reported that Congressman Armey has become a member of the Board's Audit Committee and Compensation Committee.

Rent-A-Center, Inc., headquartered in Plano, Texas, currently operates 2,836 company-owned stores nationwide and in Canada and Puerto Rico. The stores generally offer high-quality, durable goods such as home electronics, appliances, computers, and furniture and accessories to consumers 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. ColorTyme, Inc., a wholly-owned subsidiary of the Company, is a national franchisor of approximately 322 rent-to-own stores, 310 of which operate under the trade name of "ColorTyme," and the remaining 12 of which operate under the "Rent-A-Center" name.

    CONTACT: Rent-A-Center, Inc., Plano
             David E. Carpenter, 972-801-1214
             dcarpenter@racenter.com

    SOURCE: Rent-A-Center, Inc.