Asta Funding, Inc. Appoints New Board Member

Asta Funding, Inc. (Nasdaq:ASFI), today announced the election of Michael R. Feinsod to the Company’s Board of Directors. He is a principal of Infinity Capital, LLC. With his election, Asta’s Board of Directors has increased to nine members.

Mr. Feinsod, 30, currently serves as Managing Member of Infinity Capital, LLC, a New York based money management firm. Prior to founding Infinity, he had previously been a securities analyst and portfolio manager at Mark Boyar & Company. Mr. Feinsod also was an associate at Paul, Hastings, Janofksy & Walker, LLP, where he worked in the corporate law department, specializing in mergers & acquisitions. Commenting on Mr. Feinsod’s election to the Board, Asta’s President & CEO, Gary Stern said, “We’re very fortunate to have Michael on the board. His experience in finance and public markets will be of great help to the Asta management team. We look forward to his contribution as we continue to pursue our business strategy of generating strong results from our existing businesses while diversifying Asta’s revenue and earnings base through new ventures.”

Headquartered in Englewood Cliffs, NJ, Asta Funding, Inc., is a financial services company engaged in the consumer receivables liquidation and management business and commercial factoring business. The company generates revenues and earnings primarily through the purchase and collection of previously charged-off consumer credit card receivables and commercial factoring receivables. For more information, please visit the company’s web site at www.astafunding.com.