Exhibit 99


Tuesday February 12, 9:55 am Eastern Time

Press Release

SOURCE: MicroFinancial, Inc.

                    New Chairman of the Board and President
                    Announced at MicroFinancial Incorporated


WALTHAM,   Mass.--(BUSINESS   WIRE)--Feb.   12,   2002--On   January  17,  2002,
MicroFinancial's  Board of  Directors  appointed  Dr.  Peter  R.  von  Bleyleben
Chairman  of the Board.  Bleyleben  will  assume the role of  Chairman  and also
continue his duties as CEO effective immediately.

The  position  of  President  of  MicroFinancial  will be  assumed by Richard F.
Latour,  who will continue to serve the corporation in the roles of COO and, for
the time being,  CFO of the company.  Mr.  Latour will also be  recommended  for
nomination to the Board of Directors at the next special meeting of shareholders
in May 2002.

Under  the   leadership  of  Bleyleben  and  Latour  since  its  earliest  days,
MicroFinancial is a leader in the "microticket" segment of the leasing industry.
It has paid a quarterly dividend for twenty-seven  consecutive  quarters and has
been profitable  since 1987.  MicroFinancial  had its initial public offering in
early 1999.

Previous to his  promotion  to Chairman  of the Board,  Bleyleben  has served as
President,  Chief  Executive  Officer  and  Director  of  MicroFinancial  or its
predecessor  since  January  1987.  Before  joining  the  company,  he was  Vice
President  and  Director of the Boston  Consulting  Group,  Inc. in Boston.  Dr.
Bleyleben earned an M.B.A. with distinction and honors from the Harvard Business
School,  an  M.B.A.  and a  Ph.D.  in  Business  Administration  and  Economics,
respectively,  from the Vienna Business School in Vienna,  Austria and a B.S. in
Computer Science from the Vienna Institute of Technology.

From 1986 to 1995,  Latour was Vice  President  of Finance  and Chief  Financial
Officer  of the  company.  Prior  to  joining  MicroFinancial,  Latour  was Vice
President of Finance for eleven years with Trak  Incorporated,  an international
manufacturer and distributor of consumer products,  where he was responsible for
all financial and  operational  functions.  He earned a B.S. in Accounting  from
Bentley College.

Started in 1986,  MicroFinancial,  Inc. is a publicly traded company on the NYSE
(Stock symbol: MFI). Its wholly-owned subsidiary,  Leasecomm, finances equipment
ranging in price from  $500-$10,000.  Leasecomm is the preferred leasing company
of thousands of companies  nationwide.  Leasecomm uses  proprietary  software in
developing a  sophisticated,  risk-adjusted  pricing model and in automating its
credit approval and collection systems. They provide leasing services to dealers
selling business equipment and fixtures ranging from point of sale authorization
equipment to security equipment to restaurant and medical  equipment.  Leasecomm
is  distinguished  by its financial  stability,  a solid 15-year track record in
business,  as well as the  ability to offer  financing  to lessees  with a broad
spectrum of credit histories.

For  more   information,   contact   MicroFinancial's   Director  of   Marketing
Communications, Kathleen Bennett at 1-781-890-0369 ext. 7418.


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Contact:

     MicroFinancial, Inc.
     Kathleen Bennett
     1-781-890-0369 x7418