Asta Funding Inc (ASFI): Mangrove Partners Ups Its Stake and Demands Representation on the Board

Page 9 of 14 – SEC Filing

A.	Mangrove Master Fund

(a)

As of the close of business on the date hereof, Mangrove Master Fund directly owned 4,005,701 Shares.

Percentage: Approximately 33.3%

(b)

1. Sole power to vote or direct vote: 0

2. Shared power to vote or direct vote: 4,005,701

3. Sole power to dispose or direct the disposition: 0

4. Shared power to dispose or direct the disposition: 4,005,701

(c)

The transactions in the Shares by Mangrove Master Fund during the past sixty (60) days are set forth in Schedule B and are incorporated herein by reference.

B.	Mangrove Fund

(a)

As of the close of business on the date hereof, Mangrove Fund, as a controlling shareholder of Mangrove Master Fund, may be deemed to beneficially own the 4,005,701 Shares directly owned by Mangrove Master Fund.

Percentage: Approximately 33.3%

(b)

1. Sole power to vote or direct vote: 0

2. Shared power to vote or direct vote: 4,005,701

3. Sole power to dispose or direct the disposition: 0

4. Shared power to dispose or direct the disposition: 4,005,701

(c)

Mangrove Fund has not entered into any transactions in the Shares during the past sixty (60) days.

C.	Mangrove Fund Cayman

(a)

As of the close of business on the date hereof, Mangrove Fund Cayman, as a significant shareholder of Mangrove Master Fund, may be deemed to beneficially own the 4,005,701 Shares directly owned by Mangrove Master Fund.

Percentage: Approximately 33.3%

(b)

1. Sole power to vote or direct vote: 0

2. Shared power to vote or direct vote: 4,005,701

3. Sole power to dispose or direct the disposition: 0

4. Shared power to dispose or direct the disposition: 4,005,701

(c)

Mangrove Fund Cayman has not entered into any transactions in the Shares during the past sixty (60) days.