Delta Financial Corporation Announces Two New Board Members; CFO Richard Blass Re-Joins Board

John Adamovich has 30 years of experience in corporate financialmanagement and auditing, with in-depth experience in internationalfinance, mergers and acquisitions and Securities and ExchangeCommission compliance. Most recently, Mr. Adamovich was executive vicepresident and chief financial officer of Rainbow Media Enterprises, awholly owned subsidiary of Cablevision Systems Corporation. Prior tojoining Rainbow, he was group vice president, chief financial officerand treasurer of Pall Corporation. In addition, Mr. Adamovich, aCertified Public Accountant, was a professional practice partner atKPMG, LLP.

William Addas brings more than 20 years experience from both afinancial and legal perspective. Currently, Mr. Addas is a managingdirector at Deutsche Bank, where he is the head of specialty financeinvestment banking in the Americas. Previously, Mr. Addas was amanaging director at both Credit Suisse First Boston and Donaldson,Lufkin & Jenrette, Inc. Additionally, Mr. Addas was a partner at thelaw firm Manatt, Phelps and Phillips, LLP.

"We are pleased to welcome John and Will to our Board ofDirectors. With their depth and breadth of experience, they bringrelevant knowledge of the industry and an important financialperspective, which we believe will enhance the goals of the Company,"said Hugh Miller, Delta's president and chief executive officer.

Due to the passing of an independent Delta Board member in April2005, Mr. Blass agreed to resign his Board position to provide theCompany ample time to fill the Board vacancy and remain in compliancewith the American Stock Exchange listing requirements, which do notallow companies to have an equal number of independent and insideboard members. With the appointment of Messrs. Adamovich and Addas,Mr. Blass was re-appointed to the Board, which is now composed ofeight members, five of whom are independent board members.

About the Company

Founded in 1982, Delta Financial Corporation is a nationalspecialty consumer finance company, based in Woodbury, New York, thatoriginates, securitizes and sells non-conforming mortgage loans.Delta's loans are primarily fixed-rate loans secured by firstmortgages on one- to four-family residential properties. Deltaoriginates non-conforming mortgage loans primarily in 29 statesthrough a network of approximately 2,300 independent brokers and theCompany's 11 retail offices. Since 1991, Delta has completed 44asset-backed securitizations, collateralized by approximately $13.1billion in mortgage loans.