MEDALLION FINANCIAL CORP — Director's Dealing 2008

May 15, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MEDALLION FINANCIAL CORP (TAXI)
CIK: 0001000209
Period of Report: 2008-05-13

Reporting Person: HALL LARRY D (Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-05-13	Common Stock	M	5000	$4.85	Acquired	23500	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-05-13	Common Stock (right to buy)	$4.85	M	5000	Disposed	2012-06-11	Common Stock (5000)	Direct

Footnotes

F1: One-third of the options vested on the first, second and third anniversaries of the date of grant. All options have fully vested.