ASTA Funding to Announce Third Quarter and Nine Months Financial Results Aug 4

ENGLEWOOD CLIFFS, NJ – Asta Funding, Inc., (Nasdaq: ASFI), a leading consumer receivable asset management and liquidation company, today announced that it will release its fiscal third quarter and nine months financial results for the periods ended June 30, 2004, on Wednesday, August 4, 2004, before the market opens.

The Company will host a conference call for the investment community that morning at 11:00 am EDT. Asta’s president and chief executive officer, Gary Stern and its chief financial officer, Mitchell Herman, will conduct the call.

Interested parties may participate in the conference call by dialing USA/Canada (877) 511-5818, International (706) 634-1462 about 5 -10 minutes prior to 11:00 am EDT. Please refer to the Asta Funding earnings teleconference ID 9002003. A recording of the conference call will be available from 1:00 pm EDT August 4th through August 11th, by dialing USA/ Canada (800) 642-1687, International (706) 645-9291, conference ID 9002003.

Asta Funding, Inc.
Based in Englewood Cliffs, NJ, Asta Funding, Inc., is a leading consumer receivable asset management company that specializes in the purchase, management and liquidation of performing and non-performing consumer receivables. For additional information, please visit our website at www.astafunding.com.

Except for historical information contained herein, the matters set forth in this news release are “forward- looking” statements (as defined in the Private Securities Litigation Reform Act of 1995). Although Asta Funding, Inc. believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, there can be no assurance that its expectations will be realized. Forward-looking statements involve certain risks and uncertainties that could cause actual results to differ materially from Asta Funding, Inc.’s expectations. Factors that could contribute to such differences include those identified in Asta Funding, Inc.’s Form 10-K for the fiscal year ended September 30, 2003, and those described from time to time in Asta Funding, Inc.’s other filings with the Securities and Exchange Commission, news releases and other communications, including that Asta may not be able to purchase consumer receivable portfolios at favorable prices or on sufficiently favorable terms or at all. Asta Funding, Inc.’s reports with the Securities and Exchange Commission are available free of charge through its website at http://www.astafunding.com.