"These excellent results demonstrate that Rentcash's focus on profitability is compatible with opening an average of two new stores per week"
Gordon J. Reykdal, Rentcash Inc. President CEO

Rentcash Inc. (TSXV: RCS) today reported a record net income of $1.3 million for the first quarter of its new fiscal year ended September 30, 2004 compared with a net loss of ($273,000) for the same quarter of the last fiscal year. In addition, revenues for the quarter nearly tripled to a record $10.9 million compared with $3.8 million for the same fiscal period last year, an increase of $7.1 million or 182 per cent. A strong pace of 27 new store openings was set in the quarter, which also saw new store losses of $542,000 absorbed, compared to 26 new store openings and $490,000 in store opening losses absorbed for the same period last year.

Same store revenues year-over-year for Rentcash's two store divisions advanced by 107%, with The Cash Store division's same store revenues year-over-year increasing by 130% and Insta-rent's same store revenues year-over-year rising by 41%.

Rentcash, as at September 30, 2004, operated 171 stores in nine provinces, 122 of which were Cash Stores and 49 were Insta-rent outlets, compared to 93 stores at September 30, 2003, of which 78 were Cash Stores and 15 were Insta-rent outlets.

"The profitability trend is clearly upward and has now extended to two quarters in a row," said Gordon J. Reykdal, Rentcash Inc. President and Chief Executive Officer. "The record $1.3 million in net income in the first quarter of the new fiscal year was more than double the $589,000 in net earnings reported for the fourth quarter of our last fiscal year. These excellent results demonstrate that Rentcash's focus on profitability is compatible with opening an average of two new stores per week. We are also pleased that same store revenues year-over-year, a measure of retail success, have increased an outstanding 107%."

During the quarter, Rentcash was named 28th in the PROFIT Hot 50, the definitive ranking of emerging Canadian growth companies in just its third fiscal year of operations. Subsequent to the quarter's end, Rentcash also updated its store opening schedule with The Brick Group Income Fund, whereby Insta-rent will rollout more than 100 new store locations over the next 24 months at a rate of 4-5 new openings per month. (see story)

The Company employs more than 600 people and has its head office in Edmonton, Alberta.