Clearwater, Florida, - August 11, 2005: Nicholas Financial, Inc. (Nasdaq, NICK) today announced the opening of a new branch office location in Conyers, Georgia. The new location continues the Company's planned expansion of its branch office network, which now includes thirty-seven (37) branch offices in Florida, Georgia, North Carolina, South Carolina, Ohio, Michigan, Virginia, Kentucky and Indiana.

The new Conyers office is a full-service lending and collection facility. Nicholas employees have been working to develop business in the Conyers area for several months prior to the opening of the new location. The branch has approximately $500,000 in outstanding loans on its books at this time. The company intends to continue opening additional branch offices throughout the year.

Founded in 1985, with assets of $120,815,000 as of March 31, 2005, Nicholas Financial, Inc. is one of the largest publicly traded specialty consumer finance companies based in the Southeast. The Company presently operates out of 37 full-service branch locations in both the Southeast and the Mid-West States. For an index of Nicholas Financial Inc.’s news releases or to obtain a specific release, visit our website at www.nicholasfinancial.com.

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