Medallion Financial Corp.

Alvin Murstein has been the Chairman of the Board of Directors of Medallion Financial Corp. since its founding in 1995 and has been Chief Executive Officer of Medallion Financial Corp. since February, 1996. Mr. Murstein has also been the Chairman and Chief Executive Officer of Medallion Funding Corp. since its founding in 1979 and of Medallion Taxi Media, Inc. since its founding in 1994. Mr. Murstein also served as Chairman of the Board of Directors and Chief Executive Officer of Tri-Magna Corp. from its founding in 1989 until its acquisition by Medallion Financial Corp. in 1996. Mr. Murstein received a B.A. and an M.B.A. from New York University and has been an executive in the taxicab industry for over 40 years. Alvin Murstein is the father of Andrew Murstein.

Andrew Murstein is a founder, Board Member, and President of Medallion Financial Corp., a publicly traded investment Company (NASDAQ:TAXI). His family is also the largest shareholder. Medallion's predecessor company was started in 1937 and has invested over $2 billion in small businesses since its I.P.O. in 1996. He and Medallion Financial Corp. have been featured in articles in the Wall Street Journal, American Banker, U.S. Banker and Forbes. Additionally, Crain's New York Business voted him one of the top 40 executives in New York under the age of 40. Mr. Murstein received a B.A. graduating cum laude from Tufts University and an M.B.A. from New York University.

Michael J. Kowalsky has been an Executive Vice President of Medallion Financial Corp. since 1996. Mr. Kowalsky has also been the President of Medallion Funding Corp. since 1996. Prior to this he served as the Chief Operating Officer of Edwards Capital Co. from 1992 until its acquisition by Medallion Financial Corp. in 1996. Prior to joining Edwards Capital Co. Mr. Kowalsky was a Senior Vice President at General Cigar Co., Inc. Mr. Kowalsky received a B.A. and M.A. from the University of Kentucky and an M.B.A. from the New York University Graduate School of Business.

Jeffrey Yin has been Chief Compliance Officer and General Counsel of Medallion Financial Corp. since June 2005. Prior to Medallion Financial Corp, Mr. Yin served as Corporate Counsel of Marsh & McLennan Companies, Inc. Prior to joining Marsh & McLennan Companies, Mr. Yin was an associate in the New York office of Orrick, Herrington & Sutcliffe LLP. Mr. Yin received a B.A. in Economics and Rhetoric from the University of California at Berkeley and a J.D. from the New York University School of Law.

Larry D. Hall has been Corporate Controller and Assistant Treasurer of Medallion Financial Corp. since October 2000. Prior to joining Medallion Financial Corp., Mr. Hall was employed by Citibank as Vice President - Corporate Financial Control/Corporate Reporting/Analysis from October 1995 to October 2000. Mr. Hall was Vice President - Finance/Controller Treasurer and Secretary of Consolidated Waste Services of America from April 1993 to March 1995. Prior to that, he was Vice President - Manager of Line Accounting for Wells Fargo and Co. from November 1987 to March 1993 and Senior Audit Manager in the Financial Services Industry Group for Arthur Andersen & Company from September 1976 to October 1987. Mr. Hall received his B.S. from the University of Southern California.

Dean R. Pickerell is Exerutive Vice President of Medallion Capital, Inc. Mr. Pickerell has held various controller and financial management positions and has been involved in the venture capital industry since 1985. He has served on the board of directors of numerous private and public companies. Mr. Pickerell has an undergraduate degree from Iowa State University and completed the course work for an MBA degree from Makato State University.

Brian O'Leary joined Medallion Financial Corp. in December, 1999 as Senior Vice President and Chief Credit Officer. From April, 1996 to December, 1999, Mr. O'Leary was Executive Vice President of Atlantic Bank of New York, initially serving as Chief Credit Officer and Chief Administrative Officer and later as head of middle market banking which included the bank's Leasing and Premium Finance subsidiaries. Mr. O'Leary was also a member of the Management Credit Committee. From May, 1990 to April, 1996 Mr. O'Leary was with Bank Leumi Trust Co. of New York, first as a Deputy Division Head of the Lending Division and a Deputy Chief Lending Officer and then as EVP and Division Executive of domestic banking. He was also a member of the Senior Credit Committee. From July, 1977 to May, 1990, he was with Marine Midland Bank, most recently as a Regional Executive Vice President. He began his banking career in 1970 with Bankers Trust Co. in the metropolitan banking division. Mr. O'Leary received a B.A. from Fordham University and an MBA from Pace University.

Connie Mitchko came to Medallion to serve as Senior Vice President of Medallion Business Credit in 1998. Prior to joining Medallion Business Credit, Ms. Mitchko was Vice President of Continental Business Credit, a wholly-owned subsidiary of Continental Bank. Prior to her positions in commercial finance, she held positions of management with First Jersey National Bank, Automatic Data Processing and Donaldson, Lufkin & Jenrette. Ms. Mitchko attended Montclair State University and is a certified paralegal.

Henry L. Aaron has served as our director since November 2004. Mr. Aaron served as a director of Turner Broadcasting System, Inc. from 1980 until its acquisition by Time Warner, Inc. in 1996. Mr. Aaron is currently Senior Vice President of Atlanta National League Baseball Club, Inc. He is currently President of Hank Aaron Automotive Group. Mr. Aaron sits on the board of directors of Retail Ventures, Atlanta Technical Institute, the Atlanta Falcons, and the Atlanta Braves. He is a member of the Board of Governors for Boys and Girls Clubs of America. Mr. Aaron is a recipient of the Presidential Medal of Freedom, the nation s highest civilian award, awarded by President George W. Bush. Henry D. Jackson has served as our director since November 2002. Mr. Jackson is Managing Partner and Chief Executive of Merchant Equity Partners LLP, a private investment fund headquartered in London, England and focused on special situations in the European retail industry. Prior to establishing Merchant Equity, he spent 20 years as an investment banker to the retail sector in Europe and the United States and was a Managing Director of Deutsche Bank and Credit Suisse First Boston. Mr. Jackson received a B.Sc., with honors, from the Wharton School, a B.A., with honors, from the University of Pennsylvania, and was elected to Phi Beta Kappa.

Marie Russo has been Senior Vice President and Secretary of Medallion Financial Corp. since 1996. Ms. Russo has also been Senior Vice President and Secretary of Medallion Funding Corp., since 1996. Ms. Russo served as Vice President of Operations of Tri-Magna from 1989 until its acquisition by Medallion Financial Corp. in May 1996. From 1989 to 1996 she was Vice President of Medallion Funding Corp. and from 1983 to 1986 she was Controller of Medallion Funding Corp. Ms. Russo received a B.S. from Hunter College.

Stephen A. Lewis is the Senior Vice President of Medallion Capital, Inc. Prior to joining Medallion Capital, Mr. Lewis was the president of a company that provided strategic planning, marketing, financial analysis and general management services to small businesses and venture capital companies. He has served as CEO of a number of small enterprises and has turnaround experience. Prior to 1988, Mr. Lewis was a marketing executive at Control Data Corporation. Mr. Lewis holds undergraduate and masters degrees in engineering form Ohio University.

Gerald Grossman joined Medallion Business Credit in 1998 as President of the newly formed asset based division. Prior to joining Medallion Business Credit, Mr. Grossman headed the asset based divisions of Israel Discount Bank and Sterling National Bank as well as Continental Business Credit, a new subsidiary of Continental Bank. Mr. Grossman's career in commercial finance began in high school when he worked at Commercial Trading Company, a family-owned enterprise. Upon graduating Cornell University in 1954 with a B.A., he went on to New York University Law School, graduated in 1961 and was thereafter admitted to the New York Bar.

Paul Meyering is President of Medallion Capital, Inc. Prior to joining the company in 2000, he was Vice President of Corporate Finance for an investment banking firm that provided debt and equity capital raising and merger & acquisition services to middle-market businesses. A Chartered Financial Analyst, he also has experience in venture capital, asset based lending and asset securitization, and serves on the boards of several companies. Mr. Meyering has an undergraduate degree in finance and economics from Northwest Missouri State University and an MBA degree from the University of Minnesota.

Mario M. Cuomo is our director and is of counsel in the law firm of Willkie Farr & Gallagher LLP, which serves as our legal counsel in connection with various matters. We have paid Willkie Farr & Gallagher LLP $542,144 in legal fees for the fiscal year ended December 31, 2006. Mr. Cuomo does not have a direct interest in the payment of such legal fees, but has an indirect interest in such fees as an employee of the law firm. Certain of our directors, officers and shareholders are also directors of our wholly owned subsidiaries Medallion Funding Corp., Medallion Capital, Inc., Medallion Business Credit, LLC, Freshstart Venture Capital Corp., and Medallion Bank. Officer salaries are set by our Board of Directors.