"We remain focused on aggressive training and marketing initiatives...strategic efforts this year include focusing on opportunities for expansions or relocations of current stores based on targeted market analysis."
David A. Kraemer
President and Chief Executive Officer

Bestway, Inc. (BSTW), today released financial results for its fiscal first quarter, ended October 31, 2003.

The Company had total revenues for the quarter ended October 31, 2003 of $9,059,027, a $786,065 increase from $8,272,962 for the same period in the prior year. We achieved this 9.5% year-over-year revenue increase from same stores. Net earnings for the first quarter ended October 31, 2003 increased to $64,505, or $.04 per share on a diluted basis, compared to net loss of $236,690, or $.14 per diluted share, for the same period last year.

The year-over-year increase in total revenues and net earnings is primarily attributable to several strategic efforts implemented in fiscal year 2003. Specifically, the Company implemented strategies to improve profitability, including eliminating lower-cost, lower-margin merchandise from our product mix, focusing on higher revenue-generating merchandise, investing in training and developing our people and implementing a more aggressive and targeted marketing campaign.

"We are very pleased with increased results in both revenues and earnings and look forward to continued growth this year," said David A. Kraemer, President and Chief Executive Officer. "We remain focused on aggressive training and marketing initiatives implemented this last year, while strategic efforts this year include focusing on opportunities for expansions or relocations of current stores based on targeted market analysis."

Bestway, Inc. owns and operates a total of sixty-nine rent-to-own stores located in the southeastern United States.