FORT WORTH, Texas--(BUSINESS WIRE)--May 9, 2006--AMERICREDIT CORP. (NYSE:ACF) announced today the pricing of a $1.2 billion offering of automobile receivables-backed securities through lead managers Credit Suisse and Lehman Brothers. Co-managers are Barclays Capital, Deutsche Bank Securities, JPMorgan and Wachovia Securities. AmeriCredit uses net proceeds from securitization transactions to provide long-term financing of its receivables.

The securities will be issued via an owner trust, AmeriCredit Automobile Receivables Trust 2006-R-M, in three classes of Notes:

  Note Class      Amount       Average Life    Price     Interest Rate
------------ --------------- -------------- ---------- ---------------
    A-1        $448,000,000     1.50 years   99.99243       5.37%
    A-2         552,000,000     2.80 years   99.98145       5.42%
    A-3         200,000,000     4.04 years   99.96531       5.53%

The weighted average coupon on the Notes to be paid by AmeriCredit is 5.4%.

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                 AAA                 Aaa             AAA
     A-2                 AAA                 Aaa             AAA
     A-3                 AAA                 Aaa             AAA

MBIA Insurance Corporation will provide bond insurance for this transaction. Initial credit enhancement will total 9.5% of the original receivable pool balance building to the total required enhancement level of 15.0% of the then outstanding receivable pool balance. The initial 9.5% enhancement will consist of 2.0% cash and 7.5% overcollateralization.

This transaction employs a revolving structure that will allow the company to fund up to 50% of additional finance receivables within a twelve-month period from closing, after which the amortization period will commence.

This transaction represents AmeriCredit's 53rd securitization of automobile receivables in which a total of more than $43 billion of automobile receivables-backed securities has been issued.

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.

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

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

SOURCE: AmeriCredit Corp.