Asta Funding, Inc. Announces the Acquisition of CBC Settlement Funding, LLC, a Structured Settlement Financing Company

Asta Funding, Inc. Announces the Acquisition of CBC Settlement Funding, LLC, a
Structured Settlement Financing Company

ENGLEWOOD CLIFFS, N.J., Jan. 7, 2014 (GLOBE NEWSWIRE) -- Asta Funding, Inc.
(Nasdaq:ASFI) (the "Company" or "Asta"), a financial services receivable asset
management and liquidation company, today announced the acquisition of an 80%
ownership interest in CBC Settlement Funding, LLC ("CBC"), a structured
settlement financing company whose primary office is located in Conshohocken,
Pennsylvania. On December 31, 2013, the Company, through a subsidiary acquired
100% of the ownership of CBC and its affiliate, CBC Management Services, LLC,
for approximately $5.9 million. At the closing, the operating principals of
CBC, namely William J. Skyrm, Esq. and James Goodman, were issued a 20%
interest in CBC (10% to Mr. Skyrm, and 10% to Mr. Goodman). William J. Skyrm,
Esq. and James Goodman, have over 30 years combined experience in the
structured settlement industry.

CBC purchases periodic payments under a structured settlement and annuity from
individuals in exchange for a lump sum payment. In addition, the Company,
through another subsidiary has agreed to provide financing to CBC of up to $5

CBC has a portfolio of structured settlements with a present value of more
than $30 million, which is financed by approximately $25 million of debt,
including a $12.5 million line of credit from an institutional source and
notes issued by CBC. The value of the future payments of the portfolio is over
$44 million.

As the Company has acquired and managed charged off and non-performing
receivables since its inception, and more recently has been financing personal
injury claims, acquiring a structured settlement business is a further step in
diversifying the Asta portfolio that utilizes the expertise developed over the
last fifty years since the inception of its predecessor, Asta Group, Inc.

Gary Stern, Chairman, President and CEO of the Company commented, "We are very
excited about our investment in CBC Settlement Funding, LLC and the future
prospects of the structured settlement space. Structured settlements are an
asset class that has tremendous growth potential for us and is a synergistic
business that works well with our overall business model." Mr. Stern
continued, "We welcome Bill Skyrm and James Goodman to the management team and
look forward to working with them well into the future to further grow CBC
Settlement Funding."

Mr. Goodman commented, "It is an exciting time in the structured settlement
space as the consumer need for liquidity has never been greater due to
scarcity of consumer lending from traditional banks." Mr. Skyrm continued,
"The investment by Asta will allow CBC to accelerate our growth plans to
increase market share. CBC will further benefit from Asta's ability to access
capital markets efficiently."

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 and other
receivables. For additional information, please visit our website at

Important Information about Forward-Looking Statements: All statements in this
new release other than statements of historical facts, including without
limitation, statements regarding our future financial position, business
strategy, budgets, projected revenues, projected costs, and plans and
objectives of management for future operations, are forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. Forward-looking statements
generally can be identified by the use of forward-looking terminology such as
"may," "will," "expects," "intends," "plans," "projects," "estimates,"
"anticipates," or "believes" or the negative thereof, or any variation
thereon, or similar terminology or expressions. We have based these
forward-looking statements on our current expectations and projections about
future events. These forward-looking statements are not guarantees and are
subject to known and unknown risks, uncertainties and assumptions about us
that may cause our actual results, levels of activity, performance or
achievements to be materially different from any future results, levels of
activity, performance or achievements expressed or implied by such
forward-looking statements. Important factors which could materially affect
our results and our future performance include, without limitation, our
ability to purchase defaulted consumer receivables at appropriate prices,
changes in government regulations that affect our ability to collect
sufficient amounts on our defaulted consumer receivables, our ability to
employ and retain qualified employees, changes in the credit or capital
markets, changes in interest rates, deterioration in economic conditions,
negative press regarding the debt collection industry which may have a
negative impact on a debtor's willingness to pay the debt we acquire, and
statements of assumption underlying any of the foregoing, as well as other
factors set forth under "Item 1A. Risk Factors" in our Annual Report on Form
10-K for the year ended September 30, 2013 and other filings with the SEC. All
subsequent written and oral forward-looking statements attributable to us, or
persons acting on our behalf, are expressly qualified in their entirety by the
foregoing. Except as required by law, we assume no duty to update or revise
any forward-looking statements.

CONTACT: Robert J. Michel, CFO
         Asta Funding, Inc.
         (201) 567-5648

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