FORT WORTH, Texas, Oct. 11, 2007, 2007 /PRNewswire-FirstCall via COMTEX News Network/ -- AMERICREDIT CORP. (NYSE: ACF) announced today the pricing of a $1 billion offering of automobile receivables-backed securities under the AmeriCredit Prime Automobile Receivables Trust (APART) platform, which primarily includes prime/near-prime automobile loan contracts. The lead managers are JPMorgan, RBS Greenwich Capital and Wachovia Securities. Co-managers are BMO Capital Markets and UBS Investment Bank. 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 2007-2-M, in six classes of Notes:

     Note Class          Amount     Average Life      Price      Interest Rate
     ----------          ------     ------------      ------     -------------
     A-1            $183,000,000     0.23 years     100.00000    5.2715%
     A-2-A            85,000,000     0.85 years     99.998400    5.34%
     A-2-B           177,000,000     0.85 years     100.00000    LIBOR + 0.38%
     A-3             270,000,000     1.86 years     99.995190    5.22%
     A-4-A           139,000,000     3.17 years     99.988810    5.35%
     A-4-B           146,000,000     3.17 years     100.00000    LIBOR + 0.50%

The weighted average coupon on the Notes is 5.3%.

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-A                         AAA                     Aaa
     A-2-B                         AAA                     Aaa
     A-3                           AAA                     Aaa
     A-4-A                         AAA                     Aaa
     A-4-B                         AAA                     Aaa

MBIA Insurance Corporation will provide bond insurance for this transaction. Initial credit enhancement will total 3.5% of the original receivable pool balance building to the total required enhancement level of 7.75% of the then outstanding receivable pool balance. The initial 3.5% enhancement will consist of 1.0% cash and 2.5% overcollateralization.

Since 1994 AmeriCredit has issued over $53 billion of automobile receivables-backed securities.

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 $16 billion in managed auto receivables. The Company was founded in 1992 and is headquartered in Fort Worth, Texas. For more information, visit


     Investor Relations                         Media Relations
     ------------------                         ---------------
     Caitlin DeYoung                            John Hoffmann
     (817) 302-7394                             (817) 302-7627

SOURCE AmeriCredit Corp.