Nicholas Financial Retains Financial Advisor to Assist in Evaluating Strategic Alternatives

Nicholas Financial Retains Financial Advisor to Assist in Evaluating Strategic

CLEARWATER, Fla., March 20, 2013 (GLOBE NEWSWIRE) -- Nicholas Financial, Inc.
(Nasdaq:NICK) announced today that the Board of Directors of the Company has
retained Janney Montgomery Scott LLC as its independent financial advisor to
assist the Board of Directors in evaluating possible strategic alternatives
for the Company, including, but not limited to, the possible sale of the
Company or certain of its assets, potential acquisition and expansion
opportunities, and/or a possible debt or equity financing.

The Company also announced today that it has received an unsolicited,
non-binding indication of interest from a potential third-party acquirer. The
Company cautions its shareholders and others considering trading in its
securities that its Board of Directors only recently received the indication
of interest, and that the process of considering this proposal as well as
other possible strategic alternatives for the Company is only in its beginning
stages.The Board of Directors will proceed in an orderly and timely manner to
consider possible strategic alternatives for the Company and their
implications.Accordingly, no assurances can be given as to whether any
particular strategic alternative for the Company will be recommended or
undertaken or, if so, upon what terms and conditions.The Company currently
does not intend to make any further public announcements regarding its Board
of Directors' review of possible strategic alternatives until this evaluation
process has been completed.

Nicholas Financial, Inc. is one of the largest publicly traded specialty
consumer finance companies based in the Southeastern United States.The
Company presently operates 64 branch locations in both the Southeastern and
the Midwestern states.The Company has approximately 12,100,000 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

The Nicholas Financial, Inc. logo is available at

Except for the historical information contained herein, the matters discussed
in this news release include forward-looking statements that involve risks and
uncertainties including general economic conditions 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. All forward-looking statements and cautionary statements included
in this document are made as of the date hereby based on information available
to the Company as of the date hereof, and the Company assumes no obligation to
update any forward-looking statement or cautionary statement.

CONTACT: Ralph T. Finkenbrink
         Sr. Vice President, CFO
         Ph# - 727-726-0763
         Web site:

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