(EMAILWIRE.COM, July 26, 2002 ) In Delta Funding Corporation's (OTCBB:DLTO) continuing effort to help the communities where it does business, the Delta Community Action Team through the company's Community Affairs Department has a full schedule of summer events planned.

Kicking off July, Delta sponsored the Brooklyn Blizzards, a youth organization that provides summertime entertainment and athletic events for New York City youngsters. Delta provided basketball equipment, team jerseys and awards for the group's annual tournament.

Delta is lucky to have three Bronx Community College (BCC) students working at its Woodbury headquarters for four weeks, earning college credits and gaining a corporate education as part of a joint internship program with BCC and its Angel Foundation. Delta provides a stipend to the students to help with transportation and meals while at the company.

Delta co-sponsored and participated in the Community Walk for Success held Saturday, July 20, in the Flatbush section of Brooklyn, NY. The Walk coordinated by Rev. Terry Lee of The By-Ways and Hedges Youth for Christ Ministry, Inc. encouraged the community's young people to stay in school, stay out of trouble, and to help prevent crime. Several hundred community members, police officers and clergy members participated in the event that culminated with a gospel concert and a presentation of plaques and certificates to local teens in recognition of their community work and academic achievement. A portion of Delta Funding's contribution helped pay for the awards.

Future community events include a neighborhood clean up in Chicago and working with a Pittsburgh youth organization.

Delta President and Chief Executive Officer Hugh Miller said his company's community involvement is a corporate tradition.

"Delta recognizes the importance of contributing to the communities in which we do business and the community at large," Miller said, "and are one of the few companies our size with a dedicated Community Affairs Department."

"Delta's community involvement is part and parcel of our mortgage education programs," said Community Affairs Director Russell Carter, "that includes seminars for borrowers and sponsoring worthwhile community programs that might not survive without our involvement."

About Delta Funding Corporation

Delta Funding Corporation is a wholly owned subsidiary of Delta Financial Corporation, a specialty consumer finance company that that since 1982 originates, acquires and sells non-conforming home equity loans. Throughout its operating history, Delta has focused on lending to individuals who generally do not qualify for conforming credit. The company makes loans to borrowers for purposes that include debt consolidation, home improvement, refinancing and education. The loans are primarily secured by first mortgages on one to four-family residential properties. Delta is very proud of the work it does in the communities it serves. The New York City Council awarded Delta a citation for its work in the community calling it a "company worthy of the esteem of both the community and the Great City of New York." And New York City-based Caribbean Images presented Delta with its 2002 Martin Luther King Day Award for service to the community.

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Produced for Delta Funding Corporation

Contact:

Drew Biondo
Director of Corporate Communications
Delta Funding Corporation
516-812-8208 or 516-359-9015
dbiondo@deltafunding.com

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Contact Information:
Delta Funding Corporation
Joseph Nchor
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