June 28, 2011

Nicholas Financial Added to List of Companies in Russell 2000 Index

Clearwater, Florida, - June 28, 2011: Nicholas Financial, Inc. (Nasdaq, NICK) today announced announced it has been included in the Russell 2000® Index during its annual reconstitution of its family of U.S. indexes which became effective at the close of business on June 24 (see: www.russell.com). Russell determines membership for its equity indexes primarily by objective, market-capitalization rankings and style attributes.

Membership in the Russell 2000® Index, which remains in place for one year, means automatic inclusion in the appropriate growth and value style indexes. One year ago, Nicholas Financial was included on the Russell Microcap® Index for the first time during Russell Investment’s 2010 annual reconstitution. Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. An industry-leading $3.9 trillion in assets currently are benchmarked to the Russell 2000®.

Nicholas Financial, Inc. is one of the largest publicly traded specialty consumer finance companies based in the Southeastern states. The Company presently operates 56 branch locations in both the Southeastern and the Midwestern states. The Company has approximately 11,900,000 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 www.NicholasFinancial.com.