AmeriCredit Expands Warehouse Capacity to $5.9 Billion

    FORT WORTH, Texas--March 11, 2002--AMERICREDIT CORP. announced today it has increased the borrowing capacity available under its warehouse credit agreements from $4.7 billion to $5.9 billion.
    Seven new lenders committed $1.1 billion to a new credit facility. The additional $1.1 billion is part of a new $2.5 billion master warehouse credit facility led by Deutsche Banc Alex. Brown Inc. In addition to the new participants, some lenders with existing credit lines to the Company elected to move, and in one case expand, their commitments into this new facility. This credit facility has maturities of both one year ($370 million) and three years ($2.13 billion). The addition of this facility brings the amount of commitments with maturities greater than one year to $4.4 billion, 75% of total warehouse capacity. In addition to the master warehouse credit facility, AmeriCredit has four remaining commercial paper conduits, three medium term note agreements and a Canadian line of credit. AmeriCredit uses these facilities to finance the purchase of auto finance contracts pending securitization.
    "We're excited to have attracted this level of interest from new lenders given the current economic environment," says Daniel Berce, AmeriCredit's chief financial officer. "The new financing agreements we have completed in the past two weeks lock in sufficient multi-year warehouse funding capacity to support our plan for 20-25 percent annual growth in loan originations for the next several years."
    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, 2001. Such risks include -- but are not limited to -- deteriorating economic environment, adverse portfolio performance, reliance on capital markets, fluctuating interest rates, increased competition, regulatory changes and tightening labor markets. 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.

    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.