AmeriCredit Announces $1.6 Billion Asset-Backed Securitization

    FORT WORTH, Texas--Feb. 13, 2002--AMERICREDIT CORP. announced today the pricing of a $1.6 billion offering of automobile receivables-backed securities through lead managers Barclays Capital and Credit Suisse First Boston and co-managers Banc of America Securities LLC, Deutsche Bank Alex. Brown, Merrill Lynch & Co. and Wachovia Securities. The company uses proceeds from securitization transactions to provide long-term financing of automobile loans.
    The securities will be issued via an owner trust, AmeriCredit Automobile Receivables Trust 2002-A, in five classes of Notes:

Note Class     Amount     Average Life    Price      Interest Rate    
----------     ------     ------------    -----      -------------
   A-1   $  250,000,000    0.30 years    100.0000        1.92%
 A-2-A      225,000,000    0.89 years     99.9917        2.66%
 A-2-B      225,000,000    0.89 years    100.0000  1 mo. LIBOR + 0.14%
   A-3      500,000,000    2.04 years    100.0000  1 mo. LIBOR + 0.20%
   A-4      400,000,000    3.44 years     99.9826        4.66%
            -----------
         $1,600,000,000

    The weighted average coupon paid by AmeriCredit is 4.0%.

    The Class A-1 Notes will be rated A-1+ by Standard & Poor's, Prime-1 by Moody's Investors Service, Inc. and F-1+ by Fitch, Inc. Notes in classes A-2-A through A-4 will be rated AAA by Standard & Poor's, Aaa by Moody's and AAA by Fitch. Timely principal and interest payments on the Notes are guaranteed by an insurance policy provided by Financial Security Assurance Inc.
    This transaction represents AmeriCredit Corp.'s 30th securitization of automobile receivables in which a total of more than $21.8 billion of automobile receivables-backed securities has been issued.
    AmeriCredit Corp. is the largest independent middle-market auto finance company in North America. Using its branch network and strategic alliances with auto groups and banks, the company makes auto loans to consumers who are typically unable to obtain financing from traditional sources. AmeriCredit has one million active loan customers throughout the United States and Canada and more than $12 billion in managed auto receivables. The company was founded in 1992 and is headquartered in Fort Worth, Texas. For more information visit www.americredit.com.