Asta Funding Announces Its Inclusion in the New NASDAQ Global Select Market

Asta Funding, Inc., a leading consumer receivable asset management and liquidation company, today announced that it is included in the new NASDAQ Global Select Market. The NASDAQ Global Select Market has the highest initial listing standards of any exchange in the world based on financial and liquidity requirements. Prior to the change, the company had been listed on the NASDAQ National Market.

Beginning July 3, NASDAQ-listed companies will be classified under three listing tiers — NASDAQ Global Select Market, NASDAQ Global Market, and NASDAQ Capital Market. NASDAQ also plans to launch indexes based on these new tiers. NASDAQ announced the new three tier listing classification in February 2006. All three market tiers will maintain rigorous listing and corporate governance standards.

"Asta Funding is an example of an industry leader that has achieved superior listing standards, which clearly defines the essence of the NASDAQ Global Select Market," said Bruce Aust, Executive Vice President, Corporate Client Group. "NASDAQ is focused on leading a race to the top in terms of listing qualifications. In recognizing these companies, we are highlighting their achievement in meeting the requirements to be included in the market with the highest listing standards in the world," added Mr. Aust.

Gary Stern, President and Chief Executive Officer, said, "We are pleased Asta has met the stringent criteria to be listed under the new NASDAQ Global Select Market and to be showcased among the largest and most renown companies in the world. This listing is a true testament to the financial achievements the company has experienced in recent years and we look forward to many more continued years of growth on the NASDAQ."

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