Medallion C.F.O. Acquired Shares in Company

    NEW YORK, June 5 Medallion Financial Corporation , a leading finance company
serving the taxi industry in the United States, and one of the nation's
largest taxi top advertising companies, announced that its Chief Financial
Officer,  James E. Jack, acquired 1,000 shares in Medallion stock.  A previous
report incorrectly stated that he had sold the shares.

    Mr. Jack stated, "I have always been a big proponent of management owning
stock and aligning themselves with shareholders. Management owns approximately
20% of the stock already, and I am glad that I was able to increase that
position."