Exhibit 99
FOR IMMEDIATE RELEASE
CONTACT: Jeanne McDonald, Senior Vice President
(212) 599-8000
FINANCIAL FEDERAL CORPORATION
ANNOUNCES STEVEN F. GROTH HAS JOINED ITS SENIOR MANAGEMENT TEAM AS
SENIOR VICE PRESIDENT AND CHIEF FINANCIAL OFFICER
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NEW YORK, NY: September 14, 2000 - Paul R. Sinsheimer, President of
Financial Federal Corporation ("FIF" - NYSE) announced today that
Steven F. Groth has joined the Company as Senior Vice President and
Chief Financial Officer. Mr. Groth will be responsible for all
aspects of Liability Management, Accounting and Investor Relations.
Prior to joining Financial Federal, Mr. Groth was Senior Banker and
Managing Director of the Specialty Finance and Transportation
division, a unit of Fleet Bank's Corporate and Investment Banking
group. Mr. Groth formerly managed the bank's relationship with
Financial Federal. He was with Fleet Bank and a predecessor, National
Westminster Bank, since 1985. Mr. Groth is Vice Chairman and Director
of the Equipment Leasing Association Foundation Board and is a
frequent guest speaker at industry conferences. Mr. Groth is a
Chartered Financial Analyst and received his B.S. from Quinnipiac
University and his MBA in Finance from Pace University.
Paul R. Sinsheimer, President, remarked: "Steve Groth has been
directly involved in lending to the equipment finance and leasing
industry for over 10 years, and thus has an extensive depth of
knowledge and experience with Financial Federal Corporation and the
industries in which the Company is active. Steve is highly respected
in the banking community and capital markets. We are most fortunate
to have Steve join our senior management team. We believe Steve will
enhance our depth of management to support future growth and
corporate development."
The Company also announced that Michael C. Palitz, who served as Chief
Financial Officer since the Company's inception in 1989, will continue
to serve as Executive Vice President and Treasurer, and will become
Managing Director of Corporate Development.
This document contains forward-looking statements, involving
management assumptions, risks and uncertainties. Readers are referred
to the documents filed by the Company with the SEC, specifically the
most recent reports on Forms 10-K and 10-Q, which identify important
risk factors that could cause actual results to differ from those
contained in the forward-looking statements.
Financial Federal Corporation is a national, independent financial
services company specializing in financing industrial and commercial
equipment through installment sales, leasing and loan programs for
equipment manufacturers, dealers and end users. In addition to its
New York office, the Company has six full-service operations centers
in Texas, Illinois, New Jersey, North Carolina, Arizona and Georgia
and numerous additional marketing locations throughout the country.
For additional information, please visit the Company's website at
www.financialfederal.com.
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