Rentcash Inc. announced today that revenues for the third quarter ended March 31, 2004 doubled to $5.5 million from $2.8 million for the third quarter of fiscal 2003, an increase of $2.7 million or 96%.

During the quarter, the Company opened 19 new stores and absorbed start-up losses of $520,000 related to those and previously opened new stores that had not reached profitability. After taking these losses into account, the Company reported a net loss of ($173,000) for the third fiscal quarter compared with net income of $26,000 for the same quarter of the last fiscal year. As of March 31, 2004, the Company operated 123 stores in nine provinces, of which 97 were Cash Stores and 26 were Insta-rent operations. The Company operated just 50 stores as of March 31, 2003, comprised of 42 Cash Stores and 8 Insta-rent operations.

For the nine-month period ended March 31, 2004, the Company reported revenues of $13.9 million, an increase of $6.8 million or 97% over the nine- month period ended March 31, 2003. The Company opened 54 new stores during the nine-month period ended March 31, 2004, compared with 25 in the same nine months of the last fiscal year, and reported a net loss of ($807,000) for the nine-month period ended March 31, 2004, compared with net income of $270,000 for the same period last year. During the nine-month period ended March 31, 2004, the Company absorbed start-up losses of $1.6 million to fund new store expansion compared with $603,000 in start-up losses expensed for the same period last year.

"As stores mature they contribute to the bottom line and help fund the vigorous pace of new store openings," said Gordon J. Reykdal, President and Chief Executive Officer of Rentcash. "Revenues doubled, both for the quarter and for the nine-month period, demonstrating continuing growth in consumer acceptance. During the third quarter and continuing into fiscal 2005, we will continue to focus our new store opening expansion in our Insta-rent division."

Mr. Reykdal is also pleased to announce that the Company is one of the founding members of CACFS, the Canadian Association of Community Financial Service providers. The Association's mission is to speak in a unified voice for the entire industry, to educate the public and government on the importance of our services, to initiate and maintain contact with legislative and regulatory bodies and to reinforce public awareness about the industry. The members of the Association have also endorsed an industry wide Best Practices, which include full disclosure to customers, strict compliance with federal and provincial laws, truth in advertising, encouragement of customer responsibility and promotion of customer responsibility.

The Company has been served with Statements of Claim in British Columbia and Ontario in which the claimants seek to have the actions certified as class actions in the respective provinces and which allege, among other things, that the Company is in breach of the Criminal Code when charging brokerage fees to its customers. As was previously disclosed in the Company's Q1 2004 report to shareholders for the three months ended September 30, 2003, the Company was served with a similar claim in Alberta. The Company believes that it conducts its business in accordance with applicable law, that the claims are frivolous and without merit. The Company will defend each of the actions vigorously.

The Company employs more than 400 people as of March 31, 2004 and has its head office located in Edmonton, Alberta.