July 14, 2010

Nicholas Financial Announces the Opening of Two New Branch Offices

Annual Shareholder Meeting set for Innisbrook Golf Resort in Palm Harbor, Florida
on August 11th at 10:00am.

Clearwater, Florida, - July 14, 2010: Nicholas Financial, Inc. (Nasdaq, NICK) announced the recent opening of two (2) new branch offices located in Morrow, Georgia and Fort Wayne, Indiana. The office in Morrow is Nicholas Financial’s 5th branch in the greater Atlanta metropolitan area, while the Fort Wayne location is Nicholas’ third office in Indiana. The two new offices expand Nicholas Financial’s branch network to fifty-four (54) locations in 12 states.

According to Doug Marohn, Senior Vice President of Branch Operations, “The opening of our 5th branch location in the greater Atlanta market is exciting and emphasizes the Company’s commitment to controlled growth. Having multiple branch operations in our larger markets affords us opportunities of scale and increased market share. We are also very excited to establish our first office in Fort Wayne, which is a new market for our company.” Mr. Marohn went on to state, “Since the beginning of fiscal 2011, we have announced the opening of four branch locations including the new Fort Wayne and Morrow offices. It is the intent of the Company to continue to grow our branch network as aggressively as markets and personnel allow.”

The Company will hold its Annual Shareholders Meeting at the Innisbrook Golf Resort in Palm Harbor, Florida on August 11th at 10:00am.

Nicholas Financial, Inc. is one of the largest publicly traded specialty consumer finance companies based in the Southeast. The Company presently operates out of 54 branch locations in both the Southeast and the Mid-Western states. The Company has approximately 11,716,000 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 at www.NicholasFinancial.com