FORT WORTH, Texas, Sep 12, 2006 (BUSINESS WIRE) -- AmeriCredit Corp. (NYSE:ACF) today announced that its
board of directors has authorized a stock repurchase plan for up to
$300 million. Since the inception of the Company's share repurchase
program in April 2004, the board of directors has authorized a total
of $1.6 billion of stock repurchases, including approximately $254
million of common stock repurchased in conjunction with the Company's
$500 million convertible senior notes issuance. AmeriCredit may
purchase the stock from time to time, depending on market conditions,
in the open market or in privately negotiated transactions.
About AmeriCredit
AmeriCredit Corp. is a leading independent automobile finance
company that provides financing solutions indirectly through auto
dealers and directly to consumers in the United States and Canada.
AmeriCredit has approximately one million customers and $12 billion in
managed auto receivables. The Company was founded in 1992 and is
headquartered in Fort Worth, Texas. For more information, visit
www.americredit.com.
Except for the historical information contained herein, the
matters discussed in this news release include forward-looking
statements that involve risks and uncertainties detailed from time to
time in the Company's filings and reports with the Securities and
Exchange Commission including the Company's annual report on Form 10-K
for the year ended June 30, 2006. Such risks include -- but are not
limited to -- variable economic conditions, adverse portfolio
performance, volatile wholesale values, reliance on warehouse
financing and capital markets, the ability to continue to securitize
its loan portfolio, the continued availability of credit enhancement
for its securitization transactions on acceptable terms, fluctuating
interest rates, increased competition, regulatory changes and exposure
to litigation. These forward-looking statements are based on the
beliefs of the Company's management as well as assumptions made by and
information currently available to Company management. Actual events
or results may differ materially.
SOURCE: AmeriCredit Corp.
AmeriCredit Corp.
Investor Relations:
Caitlin DeYoung, 817-302-7394
or
Media Relations:
John Hoffmann, 817-302-7627