Medallion Financial (TAXI)

ITEM 2. PROPERTIES

The Company leases approximately 17,000 square feet of office space in New York City for its corporate headquarters under a lease expiring in June 2016, and leases a facility in Long Island City, New York, of approximately 6,000 square feet for certain corporate back-office operations. The Company also leases office space for loan origination offices and subsidiaries operations in Boston, MA, Chicago, IL, Minneapolis, MN, and Princeton, NJ. MB leases space in Salt Lake City, UT. The Company does not own any real property, other than that obtained as a result of lending relationships. The Company believes that its leased properties, taken as a whole, are in good operating condition and are suitable for the Company’s current business operations.

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Table of Contents

ITEM 2. PROPERTIES

The Company leases approximately 17,000 square feet of office space in New York City for its corporate headquarters under a lease expiring in June 2006, and leases a facility in Long Island City, New York, of approximately 6,000 square feet for certain corporate back-office operations. The Company also leases office space for loan origination offices and subsidiaries operations in Boston, MA, Chicago, IL, Hartford, CT, Minneapolis, MN, and West Palm Beach, FL. MB leases space in Salt Lake City, UT. The Company does not own any real property. The Company believes that its leased properties, taken as a whole, are in good operating condition and are suitable for the Company’s current business operations.