Exhibit 99
FOR IMMEDIATE RELEASE
CONTACT: Jeanne McDonald, Senior Vice President
(212) 599-8000
FINANCIAL FEDERAL CORPORATION MOURNS THE PASSING
OF CHAIRMAN CLARENCE Y. PALITZ, JR.
NEW YORK, NY: November 24, 2000 - With deep regret, Financial Federal
Corporation ("FIF" - NYSE) announced today the passing away of its Chairman
Clarence Y. Palitz, Jr. on November 23, 2000.
Paul R. Sinsheimer, President, said: "Cal Palitz was an icon in the
equipment finance and leasing business, and was renowned for his
unparalleled success over a 40+ year career in the industry. I joined
him in the business in 1970 and many of us here at Financial Federal have
worked together under his leadership for many years. On behalf of all
of Financial Federal's officers and employees, we extend our heartfelt
sympathies to the Palitz family. Mr. Palitz's vision was for Financial
Federal to be the best equipment finance company in the nation, and we
are deeply grateful for his tireless efforts in helping to build a fine
foundation for our Company's future."
Clarence Y. Palitz, Jr. joined his father, Clarence Y. Palitz, in the
equipment finance business in 1956. In 1963, Cal and his brother Bernard
founded Commercial Alliance Corporation which traded on the American Stock
Exchange from 1968 until its sale in 1984 to First Interstate Bancorp.
Commercial Alliance Corporation had a 21-year record of consecutive
increases in earnings and receivable growth. Mr. Palitz, who retired as
CEO of Financial Federal Corporation in February 2000, was a co-founder of
the Company in 1989 along with his brother Bernard, a Director, his son
Michael, Executive VP, Paul R. Sinsheimer, President, and other senior
executives.
Mr. Palitz is survived by his wife, Anka, his brother Bernard, a Director
of Financial Federal Corporation, his daughter Dr. Suzanne Palitz, his
son Michael, Executive Vice President of Financial Federal Corporation,
and his granddaughters Elianora and Sophie.
Financial Federal Corporation is a nationwide, independent financial
services company specializing in financing industrial, commercial and
professional equipment through installment sales and leasing programs
for manufacturers, dealers and end users of such equipment.
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