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Asta Funding Reports First Quarter Results

27 January 1999

Asta Funding Reports First Quarter Results

    ENGLEWOOD CLIFFS, N.J., Jan. 27 -- Asta Funding, Inc.
today announced results for the Company's first quarter ended
December 31, 1998.
    The Company reported net income of $54,867 or $.01 per share for the
quarter ended December 31, 1998 compared to a net loss of $215,028 or ($.05)
per share for the same period in the prior fiscal year.  Revenues for the
first quarter were $436,129 compared to $783,695 in the prior year period.
    Asta Funding, Inc., located in Englewood Cliffs, New Jersey, is a
sub-prime automobile lender and liquidator of distressed consumer receivables.
    Except for historical information contained herein, the matters set forth
in this news release are forward-looking statements.  Although Asta Funding,
Inc. believes that 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 most recent Form 10-KSB for the fiscal year ended September 30, 1998
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.