-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, StRM/ADMlIiPwSRFo/y3QI7EfS4PMlhKbO4Qt2DWx6rM9ipi/EkBW1XfeYh6BFeT IAOmJrB7sXo6NvMBphZPuw== 0000893046-99-000022.txt : 19990701 0000893046-99-000022.hdr.sgml : 19990701 ACCESSION NUMBER: 0000893046-99-000022 CONFORMED SUBMISSION TYPE: 11-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19981231 FILED AS OF DATE: 19990630 FILER: COMPANY DATA: COMPANY CONFORMED NAME: RENT WAY INC CENTRAL INDEX KEY: 0000893046 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-EQUIPMENT RENTAL & LEASING, NEC [7359] IRS NUMBER: 251407782 STATE OF INCORPORATION: PA FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 11-K SEC ACT: SEC FILE NUMBER: 000-22026 FILM NUMBER: 99656619 BUSINESS ADDRESS: STREET 1: ONE RENTWAY PLACE CITY: ERIE STATE: PA ZIP: 16505 BUSINESS PHONE: 8148360618 MAIL ADDRESS: STREET 1: 3230 WEST LAKE RD STREET 2: 3230 WEST LAKE RD CITY: ERIE STATE: PA ZIP: 16505 11-K 1 11-K SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 11-K [X] FOR ANNUAL REPORTS OF EMPLOYEE STOCK PURCHASE, SAVINGS AND SIMILAR PLANS PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES ACT OF 1934 For the fiscal year ended December 31, 1998 [ ]2 TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transaction period from ____________ to __________ Commission file number: 000-22026 A. Full title of the plan and the address of the plan,if different from that of the issuer name below: RENT-WAY, INC. 401(k) RETIREMENT SAVINGS PLAN B. Name of issuer of securities held pursuant to the plan and the address of its principal executive office: RENT-WAY, INC. ONE RENTWAY PLACE ERIE, PENNSYLVANIA 16505 REQUIRED INFORMATION CONTENTS
Report of Independent Accountants 3 Financial Statements: Statement of Net Assets Available for Benefits, With Fund Information at December 31, 1998 4 Statement of Net Assets Available for Benefits, With Fund Information at December 31, 1997 5 Statement of Changes in Net Assets Available for Benefits, With Fund Information for the year ended December 31, 1998 6 Notes to Financial Statements 7-9 Supplemental Schedules: Item 27a - Schedule of Assets Held for Investment Purposes at December 31, 1998 10 Item 27d - Schedule of Reportable Transactions for the year ended December 31, 1998 11
REPORT OF INDEPENDENT ACCOUNTANTS To the Employee Benefits Committee, Participants and Administrator of Rent-Way, Inc. 401(k) Retirement Savings Plan: In our opinion, the accompanying statements of net assets available for benefits and the related statements of changes in net assets available for benefits present fairly, in all material respects, the net assets available for benefits of the Rent-Way, Inc. 401(k) Retirement Savings Plan (the "Plan") at December 31, 1998 and December 31, 1997, and the changes in net assets available for benefits for the year ended December 31, 1998 in conformity with generally accepted accounting principles. These financial statements are the responsibility of the Plan's management; our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits of these statements in accordance with generally accepted auditing standards which require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for the opinion expressed above. Our audits were conducted for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental schedules of Assets Held for Investment Purposes and Reportable Transactions as of and for the year ended December 31, 1998, are presented for the purpose of additional analysis and are not a required part of the basic financial statements but are supplementary information required by the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. The fund information in the statements of changes in net assets available for benefits and statement of changes in net assets available for benefits is presented for purposes of additional analysis rather than to present the net assets available for plan benefits and changes in net assets available for plan benefits of each fund. These supplemental schedules and fund information are the responsibility of the Plan's management. The supplemental schedules and fund information have been subjected to the auditing procedures applied in the audits of the basic financial statements and, in our opinion, are fairly stated in all material respects in relation to the basic financial statements taken as a whole. PricewaterhouseCoopers LLP June 18, 1999
RENT-WAY, INC. Statement of Net Assets Available for Benefits, With Fund Information for the Year Ended December 31, 1998 PUTNAM THE CONVERTIBLE PUTNAM GEORGE INCOME- THE PUTNAM MONEY PUTNAM GROWTH GROWTH AND PUTNAM NEW PUTNAM MARKET FUND OF TRUST INCOME OPPORTUNITIES VOYAGER II FUND BOSTON FUND FUND FUND FUND ---------------------------------- ------------ ------------- ----------------- ---------------- ------------------ ------------- Investments: Investments, at fair value $ 610,167 $ 193,487 $ 641,386 $ 731,940 $ 2,274,821 Cash equivalents $ 287,234 Employer contributions receivable Participants contributions receivable 5,754 8,090 4,398 28,238 34,582 32,379 Participant notes receivable Total assets $ 292,988 618,257 197,885 669,624 766,522 2,307,200 --------- -------- --------- ---------- ------------ ------------ Net assets available for plan benefits $ 292,988 $ 618,257 $ 197,885 $ 669,624 $ 766,522 $ 2,307,200 ========= ========= ========= ========== ============ ============
PUTNAM PUTNAM INTERNATIONAL HIGH YIELD RENT-WAY GROWTH TRUST LOAN STOCK FUND FUND FUND FUND TOTAL ------------------------------------ --------------------------- --------------- ------------- ------------- ----------------- Investments: Investments, at fair value $ 360,382 $ 49,751 - $ 2,369,864 $ 7,231,798 Cash equivalents $ 287,234 Employer contribution receivable 63,791 63,791 Participants contributions receivable 13,653 4,711 1,881 25,783 159,469 Participant notes receivable - - 236,247 - 236,247 ---------- -------- --------- ----------- ------------- Total assets 374,035 54,462 238,128 2,459,438 7,978,539 ---------- -------- --------- ----------- ------------- Net assets available for plan benefits $ 374,035 $ 54,462 $ 238,128 $ 2,459,438 $ 7,978,539 ========== ======== ========= =========== ============= The accompanying notes are an integral part of these financial statements.
4 RENT-WAY, INC. Statement of Net Assets Available for Benefits, With Fund Information for the Year Ended December 31, 1997 PUTNAM THE CONVERTIBLE PUTNAM GEORGE INCOME- THE PUTNAM MONEY PUTNAM GROWTH GROWTH AND PUTNAM NEW PUTNAM MARKET FUND OF TRUST INCOME OPPORTUNITIES VOYAGER II FUND BOSTON FUND FUND FUND FUND ---------------------------------- ------------ ------------- ----------------- ---------------- ------------------ ------------- Investments: Investments, at fair value $ 108,548 $ 97,304 $ 45,815 $ 366,545 $ 384,368 $ 848,907 Cash equivalents Employer contributions receivable Participants contributions receivable 1,531 1,468 767 11,024 19,707 13,262 Participant notes receivable Total assets 110,079 98,772 46,582 377,569 404,075 862,169 --------- -------- --------- ---------- ------------ ---------- Net assets available for plan benefits $ 110,079 $ 98,772 $ 46,582 $ 377,569 $ 404,075 $ 862,169 ========= ======== ========= ========== ============ ==========
PUTNAM PUTNAM INTERNATIONAL HIGH YIELD RENT-WAY GROWTH TRUST LOAN STOCK FUND FUND FUND FUND TOTAL ------------------------------------ --------------------------- --------------- ------------- ------------- ----------------- Investments: Investments, at fair value $ 243,730 $ 34,058 - $ 1,548,346 $ 3,569,073 Cash equivalents $ 108,548 Employer contributions receivable 26,839 26,839 Participants contributions receivable 6,641 1,945 $ 2,713 9,955 69,013 Participant notes receivable - - 101,637 - 101,637 ----------- -------- ---------- ----------- ------------ Total assets 250,371 36,003 104,350 1,585,140 3,875,110 ----------- -------- ---------- ----------- ------------ Net assets available for plan benefits $ 250,371 $ 36,003 $ 104,350 $ 1,585,140 $ 3,875,110 =========== ======== ========== =========== ============ The accompanying notes are an integral part of these financial statements.
5
RENT-WAY, INC. Statement of Changes in Net Assets Available for Benefits, With Fund Information for theYear Ended December 31, 1998 THE PUTNAM THE PUTNAM GEORGE CONVERTIBLE PUTNAM PUTNAM MONEY PUTNAM INCOME- GROWTH- PUTNAM NEW PUTNAM INTERNATIONAL MARKET FUND OF GROWTH INCOME OPPORTUNITIES VOYAGER II GROWTH FUND BOSTON TRUST FUND FUND FUND FUND FUND - ------------------------------ ------------- ----------- ------------- ------------ ------------------ ------------- -------------- Net appreciation (depreciation) $ (33,358) $ (23,321) $ 19,002 $ 106,797 $ 166,250 $ 41,890 in fair market value of assets Interest $ 1,462 403 168 1,460 3,166 2,964 1,355 Dividends 11,669 52,771 22,537 53,926 22,580 83,703 10,370 ---------- --------- --------- --------- --------- ---------- -------- 13,131 19,816 (616) 74,388 132,543 252,917 53,615 Contributions: Participants 63,853 53,565 31,798 269,882 317,311 308,307 118,668 Employer's - - - - - - - Transfer of assets 105,808 527,277 147,502 - - 1,275,753 - Loan principal repayments 24,594 1,339 924 13,325 19,553 18,195 12,040 ---------- --------- --------- --------- --------- ----------- -------- 194,255 582,181 180,224 283,207 336,864 1,602,255 130,708 ---------- --------- --------- --------- --------- ----------- -------- Total additions 207,386 601,997 179,608 357,595 469,407 1,855,172 184,323 Deductions: Withdrawals 142,626 78,004 22,562 53,008 57,582 330,514 40,263 Loans 7,248 2,411 2,981 12,315 26,790 31,261 9,099 ---------- --------- --------- --------- --------- ----------- -------- Total deductions 149,874 80,415 25,543 65,323 84,372 361,775 49,362 Net increase 57,512 521,582 154,065 292,272 385,035 1,493,397 134,961 ---------- --------- --------- --------- --------- ----------- -------- Transfer between funds 125,397 (2,097) (2,762) (217) (22,588) (48,366) (11,297) ---------- --------- --------- --------- --------- ----------- -------- Net increases 182,909 519,485 151,303 292,055 362,447 1,445,031 123,664 Beginning net assets 110,079 98,772 46,582 377,569 404,075 862,169 250,371 ---------- --------- --------- --------- --------- ----------- -------- Ending net assets $ 292,988 $ 618,257 $ 197,885 $ 669,624 $ 766,522 $ 2,307,200 $ 374,035 ========== ========= ========= ========= ========= =========== =========
PUTNAM HIGH YIELD LOAN RENT-WAY TRUST FUND FUND STOCK FUND TOTAL ----------------------------------- -------------- --------------- ---------------- --------------- Additions to net assets attributed to: Net appreciation (depreciation) in fair value of assets $ (7,623) $ 13,186 $ 481,355 $ 764,178 Interest 160 (13,186) 2,048 - Dividends 4,066 - 8 261,630 -------- --------- ---------- ---------- (3,397) - 438,411 1,025,808 Contributions: Participants 30,926 (832) 252,792 1,446,270 Employer's - - 454,848 454,848 Transfer of assets - 132,180 - 2,188,520 Loan principal repayments 493 (101,331) 10,868 - -------- --------- ---------- ---------- 31,419 30,017 718,508 4,089,638 -------- --------- ---------- ---------- Total additions 28,022 30,017 1,201,919 5,115,446 Deductions: Withdrawals 6,811 39,972 240,675 1,012,017 Loans 2,140 (143,733) 49,488 - -------- --------- ---------- ---------- Total deductions 8,951 (103,761) 290,163 1,012,017 Net increase/decrease prior to interfund transfers 19,071 133,778 911,756 4,103,429 -------- -------- ---------- ---------- Transfer between funds (621) - (37,458) - -------- -------- ---------- ---------- Net increase/decrease 18,459 133,778 874,298 4,103,429 Net assets available for plan benefits, At beginning of year (Note 1) 36,003 104,350 1,585,140 3,875,110 -------- -------- ---------- ---------- At end of $ 54,462 $ 238,128 $ 2,459,438 $ 7,978,539
6 RENT-WAY, INC. Notes to Financial Statements December 31, 1998 and 1997 1. DESCRIPTION OF PLAN: The following description of the Rent-Way, Inc. 401(k) Retirement Savings Plan ("the Plan") provides only general information. Participants should refer to the Plan agreement for a more complete description of the Plan's provisions. GENERAL: The Plan is a defined contribution plan covering all full-time employees of Rent-Way, Inc. (the "Company") who are age eighteen or older. It is subject to the provisions of the Employee Retirement Income Security Act of 1974 (ERISA). CONTRIBUTIONS: Each year, participants may contribute up to fifteen percent of pre-tax annual compensation, as defined in the Plan. Participants may also contribute amounts representing distributions from other qualified defined benefit or contribution plans. The Company makes a matching contribution equal to a specified percentage of the participant's contribution (up to a maximum of six percent of a participants' total compensation). Additional amounts may be contributed at the Company's discretion. All employer contributions are invested in the Company's common stock, with the exception that, to avoid the retention of idle funds, such contributions may be invested in cash equivalent securities for periods generally not exceeding thirty days. PARTICIPANT ACCOUNTS: Each participant's account is credited with the participant's contribution and allocations of (a) the Company's contributions and, (b) Plan earnings. Allocations are based on participant earnings, as defined in the Plan agreement. The benefit to which a participant is entitled is the benefit that can be provided from the participant's vested account. VESTING: Participants are immediately vested in their contributions plus actual earnings thereon. The Company's matching contributions plus actual earnings thereon vest based on years of continuous service, as defined in the Plan agreement. A participant's employer contributions vest in twenty percent increments per year and are fully vested after five years of credited service. CASH EQUIVALENTS: Cash equivalents consist of short-term highly liquid investments, with a three-month or less maturity, which are readily convertible into cash. INVESTMENT OPTIONS: Upon enrollment in the Plan, a participant may direct employee contributions in five percent increments in any of the investment options: o PUTNAM MONEY MARKET FUND -- Putnam Money Market Fund seeks as high a rate of current income as Putnam Investment Management, Inc. believes is consistent with preservation of capital and maintenance of liquidity. It is designed for investors seeking current income with stability of principal. o THE GEORGE PUTNAM FUND OF BOSTON -- The George Putnam Fund of Boston seeks to provide a balanced investment composed of a well-diversified portfolio of stocks and bonds, which will produce both capital growth and current income. o PUTNAM CONVERTIBLE INCOME-GROWTH TRUST FUND -- Putnam Convertible Income-Growth Trust seeks, with equal emphasis, current income and capital appreciation. Its secondary objective is conservation of capital. A particular security selected for the fund's portfolio need not reflect all aspects of the fund's investment objectives. o THE PUTNAM GROWTH AND INCOME FUND -- The Putnam Growth and Income Fund seeks capital growth and current income. The fund is designed for investors seeking a diversified portfolio offering the opportunity for capital growth while also providing current income. o PUTNAM NEW OPPORTUNITIES FUND -- Putnam New Opportunities Fund seeks long-term capital appreciation. Current income is only an incidental consideration. o PUTNAM VOYAGER II FUND -- Putnam Voyager II Fund seeks long-term growth of capital. The fund is designed for investors willing to assume above-average risk in return for above-average capital growth potential. 7 RENT-WAY, INC. Notes to Financial Statements, continued December 31, 1998 and 1997 1. DESCRIPTION OF PLAN, CONTINUED: o PUTNAM INTERNATIONAL GROWTH FUND -- Putnam International Growth Fund seeks capital appreciation. The fund is designed for investors seeking capital appreciation primarily through a diversified portfolio of equity securities of companies located in a country other than the United Stated. o PUTNAM HIGH YIELD TRUST FUND -- Putnam High Yield Trust is registered under the Investment company Act of 1940, as amended, as a diversified, open-end management investment company. The fund seeks high current income by investing primarily in high-yielding, lower-rated fixed-income securities constituting a portfolio that Putnam Investment Management, Inc. believes does not involve undue risk to income or principal. o RENT-WAY STOCK FUND -- This fund is comprised exclusively of Common Shares, without par value of the Company (Common Shares). Each participant electing to purchase Common Shares through the Stock Fund is permitted to vote such Common Shares in the same manner as any other shareholder and is furnished proxy materials to such effect. If a participant does not vote their proxy, the trustee votes the proxy for the participant's Common Shares. Common Shares purchases under the account are generally purchased on the open market for cash. The price of Common Shares purchased on the open market is priced for each participant's account at an average purchase price of all shares purchased, plus brokerage fees, taxes, commissions and expenses incident to the purchase. No more than 50% of a participant's contributions may be invested in the Stock Fund. PARTICIPANT LOANS: Participants may borrow from their fund accounts a minimum of $1,000 up to a maximum equal to the lesser of $50,000 or 50 percent of their account balance. Loan transactions are treated as a transfer to (from) the investment fund from (to) the Loan Fund. Loan terms shall not exceed 5 years except in the case of a loan for the purpose of acquiring any house, apartment, condominium, or in certain circumstances a mobile home. The loans are collateralized by the balance in the participant's account and bear interest at a rate commensurate with local prevailing rates as determined quarterly by the Plan administrator. Interest rates range from 6 percent to 10 percent. Principal and interest are paid at least quarterly. PAYMENT OF BENEFITS: On termination of service due to death, disability or retirement, a participant or beneficiary receives a lump-sum amount equal to the value of the participant's vested interest in his or her account. For termination of service due to other reasons, a participant may receive the value of the vested interest in his or her account as a lump-sum distribution. FORFEITED ACCOUNTS: At December 31, 1998 and 1997, forfeited nonvested accounts totaled $53,523 and $38,436, respectively. These amounts are used to fund administrative expenses otherwise funded by the Company. PLAN TERMINATION: Although the Company has not expressed any intent to do so, the Company has the right under the Plan to discontinue its contributions at any time and to terminate the Plan subject to the provisions of ERISA. In the event the Plan is terminated, participants will become fully vested in all contributions and related earnings in their accounts. ADMINISTRATIVE EXPENSES: Administrative expenses of the Plan are paid by the Company. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: BASIS OF ACCOUNTING: The financial statements of the Plan are prepared under the accrual basis of accounting. USE OF ESTIMATES: The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of additions and deductions during the reporting period. Actual results could differ from those estimates. RISKS AND UNCERTAINTIES: The Plan provides for various investment options in any combination of stocks and mutual funds. Investment securities are exposed to various risks, such as interest rate, market and credit. Due to the level of risk associated with certain investment securities, it is at least reasonably possible that changes in risks in the near term could materially affect 8 RENT-WAY, INC. 401(k) RETIREMENT SAVINGS PLAN NOTES TO FINANCIAL STATEMENTS, continued DECEMBER 31, 1998 and 1997 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, CONTINUED: participants' account balances and the amounts reported in the Statements of Net Assets Available for Benefits and the Statements of Changes in Net Assets Available for Benefits. INVESTMENT VALUATION AND INCOME RECOGNITION: The Plan's investments are stated at fair value. Shares of registered investment companies are valued at quoted market prices which represent the net asset value of shares held by the Plan at year-end. The Company stock is valued at the last sales price of the last business day of the year. Participant notes receivable are valued at cost which approximates fair value. Purchases and sales of securities are recorded on a trade-date basis. Interest income is recorded on the accrual basis. Dividends are recorded on the ex-dividend date. The Plan presents in the statement of changes in net assets available for plan benefits, the net appreciation (depreciation) in the fair value of its investment which consists of the realized gains or losses and the unrealized appreciation (depreciation) on those investments. PAYMENT OF BENEFITS: Benefits are recorded when paid. 3. RECONCILIATION OF FINANCIAL STATEMENTS TO FORM 5500: There were no differences between net assets available for plan benefits at December 31, 1998 and 1997 or between changes in net assets available for plan benefits for the year ended December 31, 1998 per the financial statements and the respective Form 5500's. In addition, investments at fair value per the financial statements and Form 5500 agree in total. However, minor differences (less than $100) of the amount of investments at fair value within certain individual investment funds exist between the 1998 financial statements and the 1998 Form 5500. 4. TAX STATUS: The Internal Revenue Service has determined and informed the Employer by a letter dated January 27, 1999, that the Plan and related trust are designed in accordance with applicable sections of the Internal Revenue Code ("IRC"). 5. TRANSFER OF ASSETS: In 1998, the Company acquired Champion Rentals, Inc. ("Champion"). The Plan was amended to allow employees of Champion, who have met the eligibility requirements of the Plan, to become participants in the Plan effective June 30, 1998. Accordingly, investments of $2,188,520 were transferred from the Champion Rent to Own 401 (k) Plan to the Plan's investment funds in July, 1998.
9 RENT-WAY, INC. Schedule of Assets Held for Investment Purposes - Item 27a December 31, 1998 CURRENT ISSUE DESCRIPTION COST VALUE -------------------------- --------------------------------------------------- --------------- --------------------- Putnam Investments Putnam Money Market Fund* $ 287,234 287,234 The George Putnam Fund of Boston* 635,567 610,167 Putnam Convertible Income -Growth Trust Fund* - - Trust Fund 215,300 193,487 The Putnam Growth and Income Fund* 634,072 641,386 Putnam New Opportunities Fund* 605,654 731,940 Putnam Voyager II Fund 1,967,722 2,274,821 Putnam International Growth Fund* 318,035 360,382 Putnam High Yield Trust Fund* 56,978 49,751 Loan Fund N/A 236,247 Rent-Way Stock Fund** 1,535,114 2,369,864 * These investment options are interests in registered investment companies therefore the securities do not have maturity dates, rates of interest, collateral, par or maturity values. ** The Rent-Way Stock Fund includes sponsoring company common stock therefore maturity dates, rates of interest, collateral, par or maturity values are not applicable.
10 RENT-WAY, INC. Schedule of Reportable Transactions - Form 5500, Item 27d Year Ended December 31, 1998 CURRENT EXPENSE VALUE OF INCURRED WITH ASSET ON PURCHASE SELLING LEASE TRANSACTIONS COST OF TRANSACTION NET GAIN PARTY DESCRIPTION PRICE PRICE RENTAL ASSET DATE OR (LOSS) - -------------------- -------------------- ---------- -------- ---------- ------------- ---------- ----------- -------- Individual Purchase Transactions - ------------ None Series of Purchase / Sale Transactions - ------------------- Putnam Investments The Putnam Growth and Income Fund $ 354,508 N/A N/A $ - $ 354,508 $ 354,508 $ - Putnam Voyager II Fund 427,232 N/A N/A - 427,232 427,232 - Putnam Voyager II Fund N/A $ 443,321 N/A - 461,997 443,321 - Putnam New Opportunities Fund 357,414 N/A N/A - 357,414 357,414 - Rent-Way Stock Fund 834,637 N/A N/A - 834,637 834,637 - Rent-Way Stock Fund N/A 493,641 N/A - 309,024 493,641 184,617 Putnam Money Market Fund 224,240 N/A N/A - 224,240 224,240 -
RENT-WAY, INC. 401(k) RETIREMENT SAVINGS PLAN Signatures Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized. RENT-WAY, INC. 401(k) RETIREMENT Date: June 30, 1999 SAVINGS PLAN By: /s/ Jeffrey A. Conway ----------------------------- Jeffrey A. Conway, Trustee INDEX TO EXHIBITS Exhibit No. Name - ----------- ---- 23 Consent of PricewaterhouseCoopers LLP EX-23 2 RENT-WAY, INC. EXHIBIT 23 Consent of Independent Accountants We consent to the incorporation by reference in the registration statement of Rent-Way, Inc. on Form S-8 (File Number 0-22026) of our report dated June 18, 1999, on our audits of the financial statements and supplemental schedules of Rent-Way, Inc. 401(k) Retirement Savings Plan as of December 31, 1998 and 1997 anf for the year ended December 31, 1998, which report is included in this Annual Report on 11-K. PricewaterhouseCoopers LLP Cleveland, Ohio June 29, 1999 -----END PRIVACY-ENHANCED MESSAGE-----