Exhibit 99.1


                                        FOR IMMEDIATE RELEASE
CONTACT:
                                        Stephen D. Axelrod, CFA
Mitchell Herman, CFO                    Andria Pilo (Media)
Asta Funding, Inc.                      Wolfe Axelrod Weinberger Assoc. LLC
(201) 567-5648                          (212) 370-4500; (212) 370-4505 (Fax)
                                        email: steve@wolfeaxelrod.com


                   ASTA FUNDING ANNOUNCES 2-FOR-1 STOCK SPLIT

ENGLEWOOD CLIFFS, NJ, February 18, 2004 -- Asta Funding, Inc., (NASDAQ: ASFI), a
leading consumer receivables asset management and liquidation company, today
announced that its Board of Directors has declared a 2-for-1 stock split to be
paid in the form of a 100% stock dividend. The stock split will be payable March
23, 2004 to all Asta shareholders of record as of March 9, 2004.

As a result of the stock split, shareholders will receive one additional share
of common stock for every one share held on the record date. Upon completion of
the split, the total number of shares of common stock outstanding will increase
from approximately 6,674,000 to approximately 13,348,000. In addition, the
quarterly dividend, which was recently increased to $0.06 per share, will be
paid at a rate of $0.03 per share to reflect the 2-for-1 stock split. The cash
dividend will be paid to shareholders of record on March 31, 2004 and is payable
on May 1, 2004.

Gary Stern, President and Chief Executive Officer of Asta Funding, commented,
"We are pleased to announce a 2-for-1 stock split, the first in Asta's history.
We believe this split rewards current shareholders for their loyalty and it adds
liquidity to our shares."

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Asta Funding, Inc.

Based in Englewood Cliffs, NJ, Asta Funding, Inc., is a leading consumer
receivables 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 containing 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, and may not be able to continue our new quarterly dividend program. Asta
Funding, Inc.'s reports with the Securities and Exchange Commission are
available free of charge through its website at www.astafunding.com.

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