AmeriCredit to Acquire Competing Subprime Auto Lender

  

The AmeriCredit Corp. Board of Directors has approved the transaction, which is expected to close during the first quarter of calendar year 2007 (subject to customary closing conditions). Throughout the acquisition process, Wachovia Securities served as exclusive financial advisor to AmeriCredit.

Except for the historical information contained herein, the matters discussed in this news release include forward-looking statements that involve risks and uncertainties detailed from time to time in the Company's filings and reports with the Securities and Exchange Commission including the Company's annual report on Form 10-K for the period ended June 30, 2006. Such risks include - but are not limited to - variable economic conditions, adverse portfolio performance, volatile wholesale values, reliance on warehouse financing and capital markets, the ability to continue to securitize its loan portfolio, the continued availability of credit enhancement for its securitization transactions on acceptable terms, fluctuating interest rates, increased competition, the Company's ability to integrate operational and strategic platforms, regulatory changes and exposure to litigation. These forward-looking statements are based on the beliefs of the Company's management as well as assumptions made by and information currently available to Company management. Actual events or results may differ materially.

 

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