Rent-A-Center Announces Increased Authorization of Stock Repurchases

  Rent-A-Center Announces Increased Authorization of Stock Repurchases

Business Wire

PLANO, Texas -- April 26, 2013

Rent-A-Center, Inc. (the “Company”) (NASDAQ/NGS: RCII) today announced that
its Board of Directors has increased the authorization for stock repurchases
under the Company’s common stock repurchase plan from $1 billion to $1.25
billion. Under the Company’s common stock repurchase plan, shares may, from
time to time, be repurchased in the open market or in privately negotiated
transactions at amounts considered appropriate by the Company. To date, the
Company has repurchased a total of 31,585,314 shares of the Company’s common
stock for an aggregate purchase price of approximately $794.8 million since
the repurchase plan’s inception. In the current year, the Company has
repurchased a total of 465,035 shares for approximately $17.4 million in cash.

Rent-A-Center, Inc., headquartered in Plano, Texas, is the largest rent-to-own
operator in North America, focused on improving the quality of life for its
customers by providing them the opportunity to obtain ownership of
high-quality, durable goods such as consumer electronics, appliances,
computers, furniture and accessories, under flexible rental purchase
agreements with no long-term obligation. The Company owns and operates
approximately 3,111 stores in the United States, Canada, Mexico and Puerto
Rico, and approximately 1,053 RAC Acceptance kiosk locations in the United
States and Puerto Rico. ColorTyme, Inc., a wholly owned subsidiary of the
Company, is a national franchiser of approximately 224 rent-to-own stores
operating under the trade name of “ColorTyme.” For additional information
about the Company, please visit www.rentacenter.com.

Contact:

Rent-A-Center, Inc.
David E. Carpenter, 972-801-1214
Vice President of Investor Relations
david.carpenter@rentacenter.com
 
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