Clearwater, Florida, - December 11, 2008: Nicholas Financial, Inc. (Nasdaq, NICK) today announced announced the opening of a new branch office located in Columbus, Ohio. The new location continues the Company's planned expansion of its branch office network, which now includes, forty-eight (48) offices in Florida, Georgia, North Carolina, South Carolina, Virginia, Ohio, Michigan, Maryland, Kentucky, Indiana, Alabama and Tennessee. Each of the offices is a full-service lending and collection facility. Nicholas employees have been working to develop business in each area for several months prior to the opening of the new locations.

The new office is the second Nicholas Financial branch established in the Columbus area and the sixth in the state of Ohio. The Company will continue to evaluate potential new branch locations in both new and existing markets. Nicholas Financial acquires and services automobile and light truck installment sales contracts that it purchases from over 1,400 new and used car dealers.

Founded in 1985, with current assets of $197,367,000, Nicholas Financial, Inc. is one of the largest publicly traded specialty consumer finance companies based in the Southeast. The Company presently operates out of 48 branch locations in both the Southeast and the Mid-West States. The Company has approximately 10,300,000 shares of common stock outstanding. For an index of Nicholas Financial Inc.’s news releases or to obtain a specific release, visit our web site at www.nicholasfinancial.com

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