Nicholas Financial, Inc. Declares Special Cash Dividend of $2.00

Nicholas Financial, Inc. Declares Special Cash Dividend of $2.00

CLEARWATER, Fla., Dec. 11, 2012 (GLOBE NEWSWIRE) -- Nicholas Financial, Inc.
(Nasdaq:NICK) announced today that its Board of Directors has declared a
special cash dividend of $2.00 per share on its common stock to be paid on
December 28, 2012 to shareholders of record as of December 21, 2012.

Peter L. Vosotas, Chairman and CEO noted, "Today's announcement of a $2.00
special cash dividend, to be paid before the end of the calendar year, is our
effort to return capital to our shareholders in the most tax efficient manner
as possible. Our strong balance sheet and favorable access to the credit
markets allow us to provide shareholders with this dividend while maintaining
our conservative capital structure. The payment is in addition to our $0.12
cent quarterly dividend paid on December 6. Based on the decision to pay this
special dividend, the company may elect to forego future dividends.

The Company will continue expanding by adding additional branch locations
nationwide and added its 64^th full service branch this month in Troy,
Michigan, a suburb of Detroit.

Nicholas Financial, Inc is one of the largest publically traded specialty
consumer finance companies in North America. The Company operates branch
locations in both the Southeastern and the Midwestern states. The Company has
approximately 12,200,000 shares of common stock outstanding. For an index of
Nicholas Financial's news releases and public filings please visit our web
site at www.nicholasfinancial.com

The Nicholas Financial, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=6776

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, 2012. 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.

CONTACT: Ralph Finkenbrink
         Sr.Vice President, Finance
         Nicholas Financial, Inc.
         Ph # - 727-726-0763

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