EXHIBIT 1 AGREEMENT REGARDING JOINT FILING UNDER RULE 13D-1(K) OF THE EXCHANGE ACT In accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended, each of the undersigned agrees to the filing on behalf of each of a Statement on...

                                    EXHIBIT 1

    AGREEMENT REGARDING JOINT FILING UNDER RULE 13D-1(K) OF THE EXCHANGE ACT

In accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, as
amended, each of the undersigned agrees to the filing on behalf of each of a
Statement on Schedule 13D, and all amendments thereto, with respect to the
shares of common stock, par value $.0001, of Ameritrans Capital Corporation.

Dated: December 18, 2002

                                  INFINITY CAPITAL PARTNERS, L.P.

                                  By: Infinity Capital, LLC, its General Partner

                                  By: /s/ Xxxxxxx Xxxxxxx
                                      ------------------------------------------
                                      Name:  Xxxxxxx Xxxxxxx
                                      Title: Managing Member


                                  INFINITY CAPITAL, LLC

                                  By: /s/ Xxxxxxx Xxxxxxx
                                      ------------------------------------------
                                      Name:  Xxxxxxx Xxxxxxx
                                      Title: Managing Member


                                  INFINITY MANAGEMENT, LLC

                                  By: /s/ Xxxxxxx Xxxxxxx
                                      ------------------------------------------
                                      Name:  Xxxxxxx Xxxxxxx
                                      Title: Managing Member


                                           /s/ Xxxxxxx Xxxxxxx
                                  ----------------------------------------------
                                               Xxxxxxx Xxxxxxx


                                 Page 10 of 10