The NBA’s youngest head coach received another year on the job yesterday when the Nets picked up the fourth-year option at $2.5 million on coach Lawrence Frank, locking him up through the 2007-08 season.

Frank, 35, who received a four-year, $10 million deal before the 2004-05 season, has compiled a 116-88 (.569) regular-season record with the Nets since replacing Byron Scott in January 2004. He also has a 12-14 (.462) playoff record, his teams having qualified for the postseason three straight years. He began his career with a 13-game winning streak, a feat the Nets bettered this past season when they won 14 straight.

“Lawrence has done an excellent job for the Nets since he was named head coach 2 ½ years ago,” team president Rod Thorn said in a statement. “He has led his team to two Atlantic Division titles, and has made the playoffs every season. We look forward to continued success.”

Said Frank: “I would like to thank the Nets ownership, management, staff and players. The extension is a reflection of the hard work put in by our players, as well as our staff, and their commitment to winning.”