William E. Morgenstern

WILLIAM E. MORGENSTERN, a founder of Rent-Way, has served as its
President and Chief Executive Officer since its formation in 1981. Mr.
Morgenstern has directed the implementation of the Company’s systems and
procedures, controls, advertising and marketing concepts. Mr. Morgenstern
began his rental-purchase industry career with Rent-A-Center in 1979 in
Ft. Worth, Texas. While employed by Rent-A-Center, he held the positions
of store manager and district manager for Pennsylvania and New York. Mr.
Morgenstern is currently President of the Pennsylvania Association of
Rental Dealers. From 1986 to 1988, he served on the Board of Directors of
APRO, the industry’s national trade association. Mr. Morgenstern is also
very active in his community. He is a member of the Erie Conference on
Community Development and served as the Chairperson for the Boy Scouts
Annual Golf Outing in 1997. He was also the recipient of the 1996
Entrepreneur of the Year Award. Mr. Morgenstern and his wife Shelley
reside with their three children, Jackie, Chas and Danny, in Erie.