Exhibit 99.1

              FINANCIAL FEDERAL CORPORATION REPORTS
           FOURTH QUARTER AND FISCAL YEAR 2008 RESULTS

NEW YORK, NY:  September 24, 2008 - Financial Federal Corporation
(NYSE: FIF) today announced results for its fourth quarter and
fiscal year ended July 31, 2008.  Net income for the quarter
decreased 5% to $12.1 million from $12.7 million in the fourth
quarter of fiscal 2007.  Diluted earnings per share decreased by 2%
to $0.49 from $0.50.  Finance receivables originated during the
quarter were $208 million compared to $297 million in the fourth
quarter of fiscal 2007.

Net income was $50.1 million in fiscal 2008 and 2007.  Diluted
earnings per share increased by 6% to $2.01 from $1.90.  Finance
receivables originated were $924 million in fiscal 2008 compared to
$1.21 billion in fiscal 2007.  Finance receivables outstanding
decreased 9% to $1.94 billion at July 31, 2008 compared to $2.13
billion at July 31, 2007.


Paul R. Sinsheimer, Chairman and CEO, said: "I am proud to report
record earnings and earnings per share for fiscal 2008 and that we
increased our available liquidity to over $350 million.  These
achievements are outstanding considering the continuing extreme
turmoil in the capital markets and sluggish economic conditions.
We are positioned to seize opportunities that may arise in the
aftermath of this difficult environment."


Steven F. Groth, CFO, added: "Our sound underwriting practices and
conservative capital structure continue to lead us through this
difficult economic time.  Our asset quality is holding up well, our
liquidity is at an all-time high and we have a healthy return-on-
equity with low leverage.  Not many financial institutions can
currently make these statements."


Asset Quality
Asset quality has been declining due to economic conditions but
remained favorable in the fourth quarter of fiscal 2008:
   *  Net charge-offs were $1.2 million or 0.24% (annualized) of
      average finance receivables compared to $1.0 million or 0.19%
      for the quarter ended April 30, 2008 and $123,000 or 0.02% for
      the quarter ended July 31, 2007.
   *  Non-performing assets were 2.41% of finance receivables at
      July 31, 2008 compared to 2.01% at April 30, 2008 and 0.99% at
      July 31, 2007.
   *  Delinquent receivables (60 days or more past due) were 1.18%
      of total receivables at July 31, 2008 compared to 1.14% at
      April 30, 2008 and 0.46% at July 31, 2007.

Net charge-offs were $3.2 million or 0.16% of average finance
receivables for fiscal 2008 compared to $108,000 or 0.01% for fiscal
2007.

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Other Financial Highlights
   *  Net interest margin improved to 5.67% in the fourth quarter
      from 5.08% in the fourth quarter of fiscal 2007 and improved to
      5.48% in fiscal 2008 compared to 5.15% in fiscal 2007 because of
      decreases in short-term market interest rates.  The net yield
      on our finance receivables declined to 8.82% in the fourth
      quarter from 9.25% in the fourth quarter of fiscal 2007 and our
      cost of debt declined to 4.15% from 5.35%.  The net yield
      declined to 9.14% in fiscal 2008 from 9.25% in fiscal 2007 and
      our cost of debt declined to 4.75% from 5.36%.
   *  The provision for credit losses was $1.3 million in the fourth
      quarter and $4.0 million in fiscal 2008 because we increased the
      allowance for credit losses due to higher levels of net
      charge-offs, delinquencies and non-performing assets.  No
      provisions were recorded in fiscal 2007.
   *  Salaries and other expenses increased by 9% to $7.0 million in
      the fourth quarter from $6.5 million in the fourth quarter of
      fiscal 2007.  The efficiency ratios were 25.0% and 23.8% and the
      expense ratios were 1.42% and 1.21% in the fourth quarter of
      fiscal 2008 and 2007, respectively.  Salaries and other expenses
      increased 10% in fiscal 2008 to $27.3 million from $24.9 million
      in fiscal 2007.  The efficiency ratios were 24.2% and 23.4% and
      the expense ratios were 1.33% and 1.21% in fiscal 2008 and 2007,
      respectively.  Expenses increased mostly because of higher
      non-performing asset costs.
   *  Return on equity declined to 11.8% for the fourth quarter
      compared to 13.1% for the fourth quarter of fiscal 2007, and
      declined to 12.5% for fiscal 2008 compared to 12.9% for fiscal
      2007 as leverage decreased to 3.5 at July 31, 2008 from 4.3 at
      July 31, 2007.


Conference Call
The Company will host a conference call September 25, 2008 at 11:00
a.m. (ET) to discuss its fourth quarter and fiscal year results.
The call can be listened to on the Company's website
www.financialfederal.com (click on Investor Relations).


About Financial Federal
Financial Federal Corporation is an independent financial services
company specializing in financing construction, road transportation
and refuse equipment through installment sales and leasing programs
for dealers, manufacturers and end users nationwide.  Please visit
www.financialfederal.com for more information.

This press release contains certain "forward-looking" statements
concerning the Company's expectations.  Actual results could differ
materially from those contained in the forward-looking statements
because they involve risks, uncertainties and assumptions.
Information about risk factors that could cause actual results to
differ materially is included in the Company's Annual Report on Form
10-K for the year ended July 31, 2008.  Risk factors include (i) an
economic slowdown (ii) the inability to collect finance receivables
and the sufficiency of the allowance for credit losses (iii) the
inability to obtain capital or maintain liquidity (iv) rising short-
term market interest rates and adverse yield curve changes (v)
increased competition (vi) the inability to retain key employees and
(vii) adverse conditions in the construction and road transportation
industries.  The Company is not obligated to update or revise
forward-looking statements for subsequent events or circumstances.


CONTACT:  Steven F. Groth, Chief Financial Officer
          (212) 599-8000

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                   CONSOLIDATED INCOME STATEMENTS
              (In thousands, except per share amounts)

=====================================================================
                            Three months ended            Years ended
                                     July 31,*               July 31,
                            -----------------------------------------
                                2008      2007        2008       2007
=====================================================================
Finance income               $43,737   $49,451    $188,402   $191,254
Interest expense              15,626    22,322      75,473     84,828
---------------------------------------------------------------------
Net finance income before
  provision for credit losses
  on finance receivables      28,111    27,129     112,929    106,426
Provision for credit losses
  on finance receivables       1,300         -       4,000          -
---------------------------------------------------------------------
  Net finance income          26,811    27,129     108,929    106,426
Salaries and other expenses    7,040     6,451      27,323     24,945
---------------------------------------------------------------------
  Income before income taxes  19,771    20,678      81,606     81,481
Provision for income taxes     7,629     7,963      31,522     31,431
---------------------------------------------------------------------
    NET INCOME               $12,142   $12,715     $50,084    $50,050
=====================================================================
Earnings per common share:
    Diluted                    $0.49     $0.50       $2.01      $1.90
    Basic                      $0.50     $0.51       $2.05      $1.94
=====================================================================
Number of shares used:
    Diluted                   24,831    25,346      24,918     26,381
    Basic                     24,435    24,733      24,454     25,813
=====================================================================
* unaudited


                CONDENSED CONSOLIDATED BALANCE SHEETS
                           (In thousands)

=====================================================================
July 31,                                       2008              2007
=====================================================================
ASSETS

Finance receivables                      $1,940,792        $2,128,353
Allowance for credit losses                 (24,769)          (23,992)
---------------------------------------------------------------------
    Finance receivables - net             1,916,023         2,104,361

Cash                                          8,232             5,861
Other assets                                 18,613             9,852
---------------------------------------------------------------------
     TOTAL ASSETS                        $1,942,868        $2,120,074
=====================================================================

LIABILITIES

Debt                                     $1,467,000        $1,660,600
Accrued interest, taxes and
  other liabilities                          60,996            71,721
---------------------------------------------------------------------
    Total liabilities                     1,527,996         1,732,321

STOCKHOLDERS' EQUITY                        414,872           387,753
---------------------------------------------------------------------
     TOTAL LIABILITIES AND EQUITY        $1,942,868        $2,120,074
=====================================================================

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