Rentcash Inc. (TSX-VEN) announced that for the year ended June 30, 2003, revenue climbed to $10.320 million compared with $4.875 million last year, an increase of 112%. Startup expenses from the company's rapid expansion were the primary cause of a net loss of $354,000 for the year.

"In our second fiscal year of operations, we opened 38 new Cash Stores and 8 Insta-rent operations while expensing and absorbing $1.3 million in start up losses during the fiscal year compared to the opening of 14 new Cash Stores and 2 new Insta-rent operations while expensing $330,000 in fiscal 2002," said Gordon J. Reykdal, Rentcash Inc. President and Chief Executive Officer.

Rentcash Inc. opened 15 Cash Stores and 5 Insta-Rent operations during the quarter. Rentcash Inc. operates under two store banners: The Cash Store and Insta-rent.

The Company's overall store count as of the year ended June 30, 2003 stood at 70 stores in six provinces, comprising 57 Cash Stores and 13 Insta- rent operations. The Company added 154 full-time positions in the year ended June 30, 2003, currently employing 238 people with its head office located in Edmonton, Alberta. (Table follows) The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Net losses for the year ended June 30, 2003 were ($354,000) compared with ($148,000) last fiscal year. Revenue advanced to $3.253 million for the quarter compared with $1.591 million in revenue for the same fiscal period last year, a 104 per cent increase. The net loss for the quarter ended June 30, 2003 was ($623,000) compared with net income of $28,000 for the same period last fiscal year. The magnitude of the loss for the quarter was directly related to the new store opening losses that were ($768,000) for the 20 new stores opened in Q-4 2003 compared to 6 new store openings and ($91,000) in opening losses for Q-4 2002. In the quarter, the Company also expensed $133,000 of free rent negotiated on its store leases and will amortize the benefit received over the term of the leases. The Company also accrued an additional $100,000 in salary expense during Q-4 2003.