Asta Funding Purchases Portfolios Totaling $821 million in Current Quarter

Asta Funding, Inc., a leading consumer receivable asset management and liquidation company, today announced that the Company has purchased distressed consumer receivable portfolios aggregating approximately $821 million, for a purchase price of approximately $22 million for the quarter to date.

Gary Stern, President and Chief Executive Officer, said, "We are pleased to announce the closing of these purchases, which are composed of credit card, telecom and other consumer debt and look forward to adding other portfolios in the future. With this acquisition, Asta has purchased $3.1 billion in face value receivables for fiscal 2005, which ends this month."