Company announces $1 billion senior subordinate asset-backed securitization

FORT WORTH, Texas--(BUSINESS WIRE)--May 23, 2007--AMERICREDIT CORP. (NYSE: ACF) announced today the pricing of a $1 billion offering of automobile receivables-backed securities through lead managers JPMorgan and Wachovia Securities. Co-managers are BMO Capital Markets, Barclays Capital and UBS Investment Bank. This represents AmeriCredit's first securitization under its prime/near-prime retail auto loan securitization platform, AmeriCredit Prime Automobile Receivables Trust. Net proceeds from securitization transactions will be used to provide long-term financing of receivables.

The securities will be issued via an owner trust, AmeriCredit Prime Automobile Receivables Trust 2007-1, in eight classes of Notes:

Note Class        Amount      Average Life    Price     Interest Rate
----------    --------------- ------------  ----------  -------------
       A-1    $  155,000,000    0.27 years  100.00000        5.32233%
       A-2       320,000,000    0.95 years   99.99584           5.34%
       A-3       210,000,000    1.90 years   99.99827           5.27%
       A-4       186,800,000    2.83 years  100.00000   LIBOR + 0.03%
         B        35,190,000    3.50 years   99.98092           5.35%
         C        32,680,000    3.52 years   99.98652           5.43%
         D        35,190,000    3.52 years   99.96915           5.62%
         E        25,140,000    2.15 years   99.99696           6.96%

The weighted average coupon on the Notes is 5.4%.

The 2007-1 transaction will have initial credit enhancement of 1.5% of the original receivables pool balance, building to the total required enhancement level of 4.5% of the then-outstanding receivables pool balance. The initial 1.5% enhancement will consist of a 1.0% cash deposit and 0.5% overcollateralization.

The Note Classes are rated by Standard & Poor's and Moody's Investors Service. The ratings by Note Class are:

Note Class  Standard & Poor's    Moody's
----------  -----------------  -----------
      A-1      A-1+                Prime-1
      A-2       AAA                    Aaa
      A-3       AAA                    Aaa
      A-4       AAA                    Aaa
        B        AA                    Aa2
        C         A                     A1
        D      BBB+                   Baa2
        E        BB                    Ba2

Copies of the prospectus relating to this offering of receivables-backed securities may be obtained from the managers and co-managers. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities described in this press release, nor shall there be any sale of these securities in any State in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such State.

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 over one million customers and approximately $15 billion in managed auto receivables. The Company was founded in 1992 and is headquartered in Fort Worth, Texas. For more information, visit

CONTACT: AmeriCredit Corp.
Investor Relations:
Caitlin DeYoung, 817-302-7394
Media Relations:
John Hoffmann, 817-302-7627

SOURCE: AmeriCredit