FORT WORTH, Texas, May 20, 2008, 2008 /PRNewswire-FirstCall via COMTEX News Network/ -- AMERICREDIT CORP. (NYSE: ACF) announced today the pricing of a $750 million offering of automobile receivables-backed securities under the AmeriCredit Automobile Receivables Trust (AMCAR) platform, which primarily includes subprime automobile loan contracts. The lead managers on the transaction are Deutsche Bank Securities and Credit Suisse. The co-managers are Barclays Capital, Lehman Brothers and Wachovia Securities. 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 Automobile Receivables Trust 2008-A-F, in five classes of Notes:

    Note Class        Amount      Average Life      Price        Interest Rate
    ----------        ------      ------------      -----        -------------
    A-1          $ 160,000,000     0.19 years     100.00000          2.6936%
    A-2-A        $ 100,000,000     1.00 years      99.99614            4.47%
    A-2-B        $ 139,000,000     1.00 years     100.00000    LIBOR + 1.75%
    A-3          $ 153,000,000     2.00 years      99.99216           5.680%
    A-4          $ 198,000,000     3.07 years      99.99416            6.96%
                 $ 750,000,000

The weighted average coupon on the Notes to be paid by AmeriCredit is 6.0%.

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

    Note Class     Standard & Poor's     Moody's     Fitch
    ----------     -----------------     -------     -----
    A-1                   A-1+           Prime-1      F1+
    A-2-A                 AAA                Aaa      AAA
    A-2-B                 AAA                Aaa      AAA
    A-3                   AAA                Aaa      AAA
    A-4                   AAA                Aaa      AAA

Financial Security Assurance Inc. will provide bond insurance for this transaction. Initial credit enhancement will total 20.5% of the original receivable pool balance building to the total required enhancement level of 24.5% of the then outstanding receivable pool balance. The initial 20.5% enhancement will consist of 2.0% cash and 18.5% overcollateralization.

Copies of the prospectus relating to this offering of receivables-backed securities may be obtained from the lead 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. AmeriCredit has over one million customers and more than $15 billion in managed auto receivables. The Company was founded in 1992 and is headquartered in Fort Worth, Texas. For more information, visit

Contact: Investor Relations Media Relations Deborah Vestal (817) 302-7627 (817) 302-7210

SOURCE AmeriCredit Corp.