Clearwater, Florida, - February 26, 2004: Peter L. Vosotas, Chairman, CEO and President of Nicholas Financial, Inc., (Nasdaq, NICK) announced today that the Company has established March 8, 2004 as the record date for its semi-annual cash dividend of $.05 cents per share with a payment date of March 22, 2004. 

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, 2003. 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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