Cohen & Co Inc. — Director's Dealing 2006

Nov 1, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ALESCO FINANCIAL INC (AFN)
CIK: 0001270436
Period of Report: 2006-10-31

Reporting Person: COHEN DANIEL G (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-10-31	Common Stock, $0.001 par value per share	J	113204	$0.00	Disposed	604800	Direct

Footnotes

F1: Mr. Cohen forfeited all 113,204 of his restricted shares to Alesco Financial Inc. No consideration was received by Mr. Cohen.

F2: Includes 504,000 shares held by Cohen & Company, LLC, a company that Mr. Cohen may be deemed to control. Mr. Cohen disclaims any interest in such shares beyond his pecuniary interest.