Asta Funding Purchases Distressed Consumer Receivable Portfolios Totaling $520 Million

ENGLEWOOD CLIFFS, NJ – Asta Funding, Inc. (Nasdaq: ASFI), a leading consumer receivable asset management and liquidation company, today announced that the Company has recently purchased distressed consumer receivable portfolios aggregating approximately $520 million, for a purchase price of approximately $20 million.

Gary Stern, President and Chief Executive Officer, said, “Our ability to find portfolios that we can purchase at prices that meet our rigorous guidelines is a testament to our extensive distressed receivable portfolio sellers network and our longevity in the business. The acquisition of these substantial portfolios is composed both of telecom and credit card debt. We are delighted with these acquisitions and look forward to adding other suitable portfolios to our large and growing base of distressed consumer receivables.”

Asta Funding, Inc.
Based in Englewood Cliffs, N.J., Asta Funding, Inc., is a leading consumer receivables asset management company that specializes in the purchase, liquidation and management of performing and non-performing consumer receivables. Asta generates revenues and earnings primarily through purchase and collection of performing and non-performing consumer receivables. For additional information, please visit our Web site at www.astafunding.com.