"We have more than doubled the company's size in the past six months"
Gordon J. Reykdal
Rentcash President and Chief Executive Officer

Rentcash Inc announced today that revenues in its first quarter ended September 30, 2003 advanced to $3,848,481 compared with $1,937,567 for the same fiscal period last year, an increase of $1.9 million or 99%.

A strong pace of 23 new store openings was set in the quarter, which also saw new store losses of $490,000 absorbed, compared to 6 new store openings and $115,000 in opening losses for the same period last year.

The Company reported a net loss of ($273,459) in its first fiscal quarter compared with net income of $87,541 in the same quarter last fiscal year prior to start of the expansion phase. The Company, at September 30, 2003, operated 93 stores, 78 of which were Cash Stores and 15 were Insta- rent outlets compared to 30 stores at September 30, 2002, of which 25 were Cash Stores and 5 were Insta-rent outlets.

"We have more than doubled the company's size in the past six months," said Gordon J. Reykdal, Rentcash Inc. President and Chief Executive Officer. "An excellent infrastructure is now in place to manage future growth and the company's focus is now on returning to profitability and maintaining controlled, profitable growth in the future."

Subsequent to the quarter's end, the Company opened its 100th store, an Insta-rent outlet, in Grand Prairie, Alberta in The Brick. It is the Company's fifth Insta-rent store in Alberta and its 19th Insta-rent nationwide. "Since the quarter's end, there have been 4 Insta-rent stores opened, with more scheduled for the balance of the fiscal year," added Reykdal. "All new Insta-rent stores will be inside The Brick, where there are minimal start-up costs to launch an operation."

The Company currently employs 307 people, with its head office located in Edmonton, Alberta.