Asta Funding Participates in Two Non-Conforming Consumer Receivable Purchases With a Face Value of $90 Million

Asta Funding, Inc., (NASDAQ:ASFI) , a leading consumer receivables asset management and liquidation company, today announced that it has acquired a 35 percent participation in a $46 million portfolio and a 50 percent participation in a $44 million portfolio of consumer receivables.

Both portfolios consisted of performing and non-performing consumer receivables and were purchased at substantial discounts.

“Our strategy has been to focus on niche opportunities in the consumer arena that meet our business model,” said Gary Stern, Asta president and chief executive officer. “The 50 percent participation receivable purchase was from a previous company from whom we have had excellent experience. The 35 percent participation purchase was with a company that has many years experience in this type of consumer receivables. Our partners on both transactions are knowledgeable and further support our confidence in the attractive characteristics of the transactions.”