AmeriCredit Announces 31st Asset-Backed Securitization for $990 Million

    FORT WORTH, Texas--April 10, 2002--AMERICREDIT CORP. announced today the pricing of a $990 million offering of automobile receivables-backed securities through lead managers Deutsche Bank and Banc of America Securities LLC. The company uses proceeds from securitization transactions to provide long-term financing of automobile loans.
    This transaction is similar to the company's 2000-1 and 2001-1 securitizations and employs a combination of subordinated notes, overcollateralizaton and a reserve fund to support the ratings instead of bond insurance. This transaction represents the Company's third senior subordinated securitization and the first for calendar year 2002.
    The securities will be issued via an owner trust, AmeriCredit Automobile Receivables Trust 2002-1, in seven classes of Notes:

Note Class      Amount       Average Life     Price   Interest Rate
----------      ------       ------------      -----   -------------
   A-1     $  160,000,000     0.21 years     100.0000       1.94%
   A-2        354,000,000     1.01 years      99.9954       3.06%
   A-3        236,000,000     2.19 years      99.9839       4.23%
     B         90,000,000     3.05 years      99.9782       5.28%
     C         50,000,000     3.57 years      99.9988       5.98%
     D         47,500,000     3.63 years      99.9687       6.53%
     E         52,500,000     0.83 years      99.9980       8.40%
              -----------
             $990,000,000
              =========== 

    The weighted average coupon paid by AmeriCredit is 4.7%. For comparative purposes, senior subordinate structures do not require payments to a bond insurance guarantor.
    The Note Classes are rated by Standard & Poor's, Moody's Investors Service, Inc. and Fitch, Inc. The ratings by Note Class are:

Note Class     Standard & Poor's        Moody's     Fitch
----------    ---------------------     -------     -----
   A-1              A-1+                Prime-1      F-1+
   A-2               AAA                    Aaa       AAA
   A-3               AAA                    Aaa       AAA
     B                AA                    Aa3        AA
     C                 A                     A3         A
     D               BBB                   Baa3       BBB
     E                BB                    Ba1        BB

    This transaction represents AmeriCredit's 31st securitization of automobile receivables in which a total of more than $22.8 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.