Rentcash Inc. (TSXV: RCS) announced that the Company had achieved profits for the last five consecutive quarters.

rentcash.ca

For the third quarter of the 2003 fiscal year, the Company reported operating income (earnings before interest and taxes) of $39,859 compared with $69,789 for the same period last year. Net income reported was $25,859 for this quarter compared with $41,789 for the third quarter of last fiscal year.

Revenues rose to $2,828,342 for the quarter ended March 31, 2003 from $1,453,685 for the same period last fiscal year, an increase of 94%. For the first nine months of the Company's 2003 fiscal year, operating income (earnings before interest and taxes) climbed to $421,707 compared with a loss of ($289,442) for the same period last year. Net income increased to $269,707 for the first nine months of the 2003 fiscal year, when compared to a loss of ($176,442) for the comparable period last fiscal year. Revenues rose to $7,067,800 from $3,284,480 for the first nine months of the last fiscal year, an increase of 115%.

Gordon J. Reykdal
President and Chief Executive Officer
"Rentcash Inc. has been able to maintain profitability in the third quarter even after absorbing $259,000 of new store start-up costs and losses. We have been successful in establishing a credible, recognizable brand through our national chain of stores."

Reykdal also noted that 15 new stores have already been opened since March 31, 2003 with an additional 15 new stores planned by fiscal year end. Rentcash Inc. operates under two store banners: The Cash Store and Insta- rent. The Cash Store acts as broker to facilitate payday cash advance services to income earning consumers. Insta-rent rents brand name furniture, appliances, electronics and computers, with or without an option to purchase.

The Company's presently owns and operates 65 stores, comprised of 52 Cash Stores and 13 Insta-rent outlets. The Company employs 217 people with its head office located in Edmonton, Alberta.