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Clearwater, Florida, -
October 4, 2001 - Nicholas Financial, Inc. (Nasdaq, NICK), today announced the promotions of Rick Francis from Regional Director
to Area Vice President and Douglas Marohn from Branch Manager to
Regional Director.
Mr. Francis started with Nicholas Financial in 1996 as the manager of the
Orlando, Florida Business Development Center (BDC). In 1997, he launched the company's expansion into Georgia and
the Carolinas by establishing a BDC in Atlanta, Georgia. Since then Rick has returned to Florida and has been
instrumental in building Region II into a key profit center for the
company. Mr. Francis will
be based out of Orlando, Florida and in his new role will be
responsible as Area Vice President for two Florida East Coast Regions
and assist in employee training at the Nicholas Academy.
Mr. Marohn started with the company in 1998 and built the Longwood,
Florida BDC into the most profitable office in the company during his
3 years there. Doug was
promoted in June to take over the Florida West Coast Region. Mr. Marohn, based in Tampa, Florida will be responsible for
developing new branch expansion at locations throughout the country.
Doug and Rick will report to Matthew Foget, Vice President of
Sales.
Founded in 1985, with assets of 69 million at
June 30, 2001, Nicholas Financial is one of the largest publicly
traded specialty auto finance companies based in the Southeast. The
company operates 22 full service Business Development Centers
throughout Florida, Georgia, North and South Carolina. For an index of
Nicholas Financial Inc.’s news releases or to obtain a specific
release, please visit our web site at www.nicholasfinancial.com
Nicholas Financial, Inc., is a specialized Finance Company that provides funding for
pre-owned automobiles and light trucks. The Company acquires and
services non-prime installment sales contracts through a network of
automobile dealerships through its branch network in Florida, Georgia
and North Carolina. In addition, the company provides consumer loans
primarily to its customer base. Its software subsidiary, Nicholas Data
Services, Inc., designs, develops and supports all the systems related
to the Finance Company and sells proprietary accounting software to
small businesses.
Except for the historical information contained herein, the matters discussed in this
news release include forward-looking statements that involve risks and
uncertainties including competitive factors, the management of growth,
and other risks detailed from time to time in the Company’s filings
and reports with the Securities and Exchange Commission including the
Company’s Annual Report on Form 10-K for the year ended March 31,
2000. Such statements are based on the beliefs of the Company’s
management as well as assumptions made by and information currently
available to Company management. Actual events or results may differ
materially.
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