(PR NEWSWIRE) Rent-Way's Officers and Directors to Purchase Shares in Open Ma
Rent-Way's Officers and Directors to Purchase Shares in Open Market
ERIE, Pa., Dec. 20 /PRNewswire/ -- Rent-Way, Inc. (NYSE: RWY) today
announced that several of its executive officers and directors have advised
that they intend to begin purchasing shares of common stock of the company in
the open market. The timing and amount of these purchases will be determined
by the officers and directors. However, no purchases will be made prior to
December 26, 2000, nor will any purchases occur during any period when the
existence of material, non-public information regarding the company makes
those purchases inappropriate. Rent-Way's common stock closed yesterday at
$2.75 per share, down approximately 89% from its closing price on October 27,
2000, the last trading day prior to the company's announcement of its
accounting investigation, and down approximately 91% from its 52-week high.
Rent-Way is the second-largest operator of rental-purchase stores in the
United States. Rent-Way rents quality name-brand merchandise such as home
entertainment equipment, computers, furniture and appliances from 1,142 stores
in 42 states.
CONTACT: William Morgenstern, Chief Executive Officer of Rent-Way,
814-455-5378.
SOURCE Rent-Way, Inc.
-0- 12/20/2000
/CONTACT: Bill Morgenstern of Rent-Way, 814-455-5378/
/Web site: rentway.com /
(RWY)
CO: Rent-Way, Inc.
ST: Pennsylvania
IN: REA
SU:
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