Executive Change: Rob Knight Promoted at Asta Funding

Asta Funding, Inc. (Nasdaq: ASFI), a leading consumer receivable asset management and liquidation company, is pleased to announce the appointment of Rob Knight as Vice President of Business Development.

Mr. Knight has 12 years of financial services experience including acquisitions of distressed assets, account collection, loan origination, and loan servicing. Mr. Knight has been a top-producing executive with strategic acquisitions experience and an extensive knowledge of credit issuing organizations and their systems.

Mr. Knight will further complement Asta’s existing team which includes Ms. Nan Beilinson, an industry veteran, who joined Asta Funding in early 2005. Mr. Knight will focus his efforts on emerging markets and alternative asset classes to further the footprint of Asta Funding in the acquisition of distressed debt.

Based in Englewood Cliffs, NJ, 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 http://www.astafunding.com.