FORT WORTH, Texas, Dec 12, 2008 (BUSINESS WIRE) -- AMERICREDIT CORP. (NYSE:ACF) today announced the appointment of Bruce R.
Berkowitz to its board of directors. AmeriCredit's board now includes
Mr. Berkowitz is the President of Fairholme Funds, Inc., and is also a
member of its board of directors. He has more than 24 years of
investment management experience and is the Managing Member and Chief
Investment Officer of Fairholme Capital Management, L.L.C. Mr. Berkowitz
also serves as a director and member of the audit committee of TAL
International and White Mountains Insurance Group.
"We are pleased to add such a well-respected and experienced
professional to our board of directors. I am certain that our company
and our shareholders will benefit greatly from his knowledge and
insight," said AmeriCredit's Chairman Clifton Morris Jr.
Additionally, in consummation of the transaction announced on Nov. 24,
2008, between AmeriCredit and Fairholme Funds, Inc., AmeriCredit has
issued approximately 15.1 million shares of its common stock to
Fairholme Funds, Inc., valued at $6.02 per share, in exchange for $108
million of par value of AmeriCredit's 8.50% Senior Notes due 2015.
AmeriCredit Corp. is a leading independent automobile finance company
that provides financing solutions indirectly through auto dealers across
the United States. AmeriCredit has over one million customers and
approximately $14 billion in auto receivables. The Company was founded
in 1992 and is headquartered in Fort Worth, Texas. For more information,
SOURCE: AmeriCredit Corp.
Caitlin DeYoung, 817-302-7394