Clearwater, Florida, - December 4, 2003: Nicholas Financial, Inc. (Nasdaq, NICK) audit committee chairman, Alton R. “Charlie” Neal, today announced that the accounting firm of Crisp Hughes Evans LLP has been appointed to become the Company’s new independent public accountants, effective December 3, 2003.

 Crisp Hughes Evans LLP is a professional service Firm dedicated to providing service in the areas of audit, tax, management consulting, financial planning, business valuations, retirement plan administration, and technology consulting. Since it was founded in 1979, the Firm has grown to become one of the 40 largest accounting firms in the nation and one of the top five in the Southeast, operating from its nine offices in North Carolina, South Carolina, and Georgia. Larry H. Evans, managing partner of the Atlanta office of Crisp Hughes Evans LLP said, “We are excited about adding Nicholas Financial, Inc. to our specialty finance client base.”

Crisp Hughes Evans LLP has announced a merger with another large regional firm, Dixon Odom PLLC. This merger will be effective on January 1, 2004. The combined Firm will be known as Dixon Hughes PLLC. With a staff of more than 725 in 24 cities in eight states, Dixon Hughes PLLC will be the largest certified public accounting firm headquartered in the Southeast region and the 15th largest nationwide.

Founded in 1985, with current assets of $98,502,000 as of September 30, 2003, Nicholas Financial is one of the largest publicly traded specialty consumer finance companies based in the Southeast. The company has approximately 5,050,000 shares of common stock outstanding and has reported record revenues and earnings every year for the past 13 years. For an index of Nicholas Financial Inc.’s news releases or to obtain a specific release, visit our web site at www.nicholasfinancial.com.