Cohen & Co Inc. — Director's Dealing 2006

Nov 28, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ALESCO FINANCIAL INC (AFN)
CIK: 0001270436
Period of Report: 2006-11-27

Reporting Person: Patel Shami (COO and CIO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-11-27	Common Stock, $0.001 par value per share	P	16667	$150003	Acquired	78793	Direct

Footnotes

F1: Includes 49,526 shares of restricted stock. The restrictions expire, with respect to 1/3 of Mr. Patel's restricted shares, on January 31, 2007 and, with respect to the remainder of Mr. Patel's restricted shares, pro rata on the last day of each calendar quarter during the following two-year vesting period of the grant.