Rentrak Closes Chicago Office of 3PF Subsidiary to Improve Operating Efficiencies

Apr 24, 2001, 01:00 ET from Rentrak Corporation

    PORTLAND, Ore., April 24 /PRNewswire Interactive News Release/ --
 Rentrak Corporation (Nasdaq:   RENT) today announced the closing of the Chicago
 offices of its third-party fulfillment subsidiary, 3PF, Inc.  3PF provides
 fulfillment, order processing, inventory management and sophisticated sales
 tracking information services to companies requiring 24/7 just-in-time
 fulfillment.  In its fiscal year ended Dec. 31, 2000, 3PF produced record
 revenues of $20.0 million, up 81.5 percent over the previous year.
     "With the core of 3PF's operations in Ohio, the company decided to
 consolidate its Chicago offices on the grounds of its primary distribution
 center," said Paul Rosenbaum, Rentrak's Chairman and Chief Executive Officer.
 "We appreciate the work that the management group in Chicago performed to
 position 3PF as the country's premier provider of third-party fulfillment
 services, and we believe the office consolidation will further improve
 customer service, provide operational efficiencies and hasten 3PF's primary
 goal to be a profitable enterprise."
     The Chicago office housed five employees.  William J. Polich, 3PF's former
 Chairman, President and Chief Executive Officer declined to move to Ohio and
 is leaving the company.
     George Kuper, a member of Rentrak's board of directors, will assume
 operational management responsibility for 3PF as Chief Operating Officer.  In
 addition to several entrepreneurial ventures, Mr. Kuper's background includes
 the company wide management of productivity improvement programs at General
 Electric and a dramatic turnaround of the Industrial Technology Institute, an
 applied research company for manufacturing technologies.
     During the past three decades, Mr. Kuper has been a recognized leader in
 the national effort to establish a productivity growth policy.  In 1975 he was
 nominated by President Gerald Ford and confirmed by the U.S. Senate to serve
 as executive director of the newly created National Center for Productivity
 and Quality of Working Life.
     Mr. Kuper has spent the last six years as a management and policy
 consultant in the chemical, electronics and software industries on issues that
 include operations as well as environmental and energy issues.  He is a
 graduate of Johns Hopkins University and holds graduate degrees from the
 London School of Economics (International Law) and Harvard Business School
 (Business Administration).
     "I am very pleased to step in to provide operational leadership for this
 very high potential business unit," Mr. Kuper said.  "We expect 3PF to
 continue to grow its revenues at a very rapid pace and to aggressively pursue
 new business from its unified Ohio headquarters."
     Mr. Kuper continued, "We expect the closing of the Chicago office to
 favorably impact employees at 3PF's distribution centers in Ohio.  Employees
 at 3PF's three Ohio distribution centers have consistently exceeded customer
 expectations for fast, accurate and cost effective fulfillment of products.
 In addition to his current responsibilities, Ed Barnick, Executive Vice
 President of Distribution for 3PF in Ohio, will immediately assume
 responsibility for sales and marketing.  Financial functions previously
 provided from the Chicago office will be assumed by Mark Thoenes, Rentrak's
 Chief Financial Officer, and the corporate finance staff."
     Mr. Rosenbaum will immediately assume the additional role of Chairman,
 President and Chief Executive Officer of 3PF.  In addition to Mr. Rosenbaum,
 Mr. Kuper has been elected to the 3PF board.  They join Andre Iseli, Chief
 Executive Officer of Iseli & Iseli Associates and Ralph R. Shaw, General
 Partner of Shaw Venture Partners, who continue as directors.
     "The moves that we have made provide our fast-growing Ohio 3PF operations
 direct access to Rentrak's management, which we believe will benefit both the
 short-term expense picture at 3PF and the subsidiary's long-term growth
 potential," Mr. Rosenbaum said.  "These actions demonstrate Rentrak's new
 board of directors' commitment to building shareowner value by maximizing the
 potential of Rentrak and its subsidiaries."
 
     About Rentrak
     Rentrak Corporation is an information management company and the world's
 largest processor of rental and sales data for videocassettes obtained on a
 revenue-sharing basis.  The company services most motion picture studios and
 over 10,000 retail video rental locations throughout the U.S. and Canada.  For
 further information please refer to Rentrak's corporate Web site at
 www.rentrak.com.  3PF can be accessed on the Web at http://www.3PF.com .
 
      When used in this discussion, the words "anticipates," "expects,"
 "intends" and similar expressions are intended to identify forward-looking
 statements.  Such statements relate to, among other things, the revenues and
 results of operations for both 3PF and PPT(R) and are subject to certain risks
 and uncertainties that could cause actual results to differ materially from
 those projected.  Factors that could affect Rentrak's financial results
 include customer demand for videocassettes subject to company guarantees and
 Rentrak and 3PF customers continuing to comply with the terms of their
 agreements.  Additional factors that could affect Rentrak's financial results
 are described in Rentrak's March 31, 2000, annual report on Form 10-K, filed
 with the Securities and Exchange Commission. Results of operations in any past
 period should not be considered indicative of the results to be expected for
 future periods.
 
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SOURCE Rentrak Corporation
    PORTLAND, Ore., April 24 /PRNewswire Interactive News Release/ --
 Rentrak Corporation (Nasdaq:   RENT) today announced the closing of the Chicago
 offices of its third-party fulfillment subsidiary, 3PF, Inc.  3PF provides
 fulfillment, order processing, inventory management and sophisticated sales
 tracking information services to companies requiring 24/7 just-in-time
 fulfillment.  In its fiscal year ended Dec. 31, 2000, 3PF produced record
 revenues of $20.0 million, up 81.5 percent over the previous year.
     "With the core of 3PF's operations in Ohio, the company decided to
 consolidate its Chicago offices on the grounds of its primary distribution
 center," said Paul Rosenbaum, Rentrak's Chairman and Chief Executive Officer.
 "We appreciate the work that the management group in Chicago performed to
 position 3PF as the country's premier provider of third-party fulfillment
 services, and we believe the office consolidation will further improve
 customer service, provide operational efficiencies and hasten 3PF's primary
 goal to be a profitable enterprise."
     The Chicago office housed five employees.  William J. Polich, 3PF's former
 Chairman, President and Chief Executive Officer declined to move to Ohio and
 is leaving the company.
     George Kuper, a member of Rentrak's board of directors, will assume
 operational management responsibility for 3PF as Chief Operating Officer.  In
 addition to several entrepreneurial ventures, Mr. Kuper's background includes
 the company wide management of productivity improvement programs at General
 Electric and a dramatic turnaround of the Industrial Technology Institute, an
 applied research company for manufacturing technologies.
     During the past three decades, Mr. Kuper has been a recognized leader in
 the national effort to establish a productivity growth policy.  In 1975 he was
 nominated by President Gerald Ford and confirmed by the U.S. Senate to serve
 as executive director of the newly created National Center for Productivity
 and Quality of Working Life.
     Mr. Kuper has spent the last six years as a management and policy
 consultant in the chemical, electronics and software industries on issues that
 include operations as well as environmental and energy issues.  He is a
 graduate of Johns Hopkins University and holds graduate degrees from the
 London School of Economics (International Law) and Harvard Business School
 (Business Administration).
     "I am very pleased to step in to provide operational leadership for this
 very high potential business unit," Mr. Kuper said.  "We expect 3PF to
 continue to grow its revenues at a very rapid pace and to aggressively pursue
 new business from its unified Ohio headquarters."
     Mr. Kuper continued, "We expect the closing of the Chicago office to
 favorably impact employees at 3PF's distribution centers in Ohio.  Employees
 at 3PF's three Ohio distribution centers have consistently exceeded customer
 expectations for fast, accurate and cost effective fulfillment of products.
 In addition to his current responsibilities, Ed Barnick, Executive Vice
 President of Distribution for 3PF in Ohio, will immediately assume
 responsibility for sales and marketing.  Financial functions previously
 provided from the Chicago office will be assumed by Mark Thoenes, Rentrak's
 Chief Financial Officer, and the corporate finance staff."
     Mr. Rosenbaum will immediately assume the additional role of Chairman,
 President and Chief Executive Officer of 3PF.  In addition to Mr. Rosenbaum,
 Mr. Kuper has been elected to the 3PF board.  They join Andre Iseli, Chief
 Executive Officer of Iseli & Iseli Associates and Ralph R. Shaw, General
 Partner of Shaw Venture Partners, who continue as directors.
     "The moves that we have made provide our fast-growing Ohio 3PF operations
 direct access to Rentrak's management, which we believe will benefit both the
 short-term expense picture at 3PF and the subsidiary's long-term growth
 potential," Mr. Rosenbaum said.  "These actions demonstrate Rentrak's new
 board of directors' commitment to building shareowner value by maximizing the
 potential of Rentrak and its subsidiaries."
 
     About Rentrak
     Rentrak Corporation is an information management company and the world's
 largest processor of rental and sales data for videocassettes obtained on a
 revenue-sharing basis.  The company services most motion picture studios and
 over 10,000 retail video rental locations throughout the U.S. and Canada.  For
 further information please refer to Rentrak's corporate Web site at
 www.rentrak.com.  3PF can be accessed on the Web at http://www.3PF.com .
 
      When used in this discussion, the words "anticipates," "expects,"
 "intends" and similar expressions are intended to identify forward-looking
 statements.  Such statements relate to, among other things, the revenues and
 results of operations for both 3PF and PPT(R) and are subject to certain risks
 and uncertainties that could cause actual results to differ materially from
 those projected.  Factors that could affect Rentrak's financial results
 include customer demand for videocassettes subject to company guarantees and
 Rentrak and 3PF customers continuing to comply with the terms of their
 agreements.  Additional factors that could affect Rentrak's financial results
 are described in Rentrak's March 31, 2000, annual report on Form 10-K, filed
 with the Securities and Exchange Commission. Results of operations in any past
 period should not be considered indicative of the results to be expected for
 future periods.
 
                      MAKE YOUR OPINION COUNT - Click Here
                http://tbutton.prnewswire.com/prn/11690X38464482
 
 SOURCE  Rentrak Corporation