AmeriCredit Announces $1.3 Billion Asset-backed Securitization; Lowest Weighted Average Coupon in Company History At 3.0%

    FORT WORTH, Texas--Aug. 8, 2002--AmeriCredit Corp. announced the pricing of a $1.3 billion offering of automobile receivables-backed securities through lead managers Credit Suisse First Boston and Barclays Capital and co-managers Deutsche Bank, J.P. Morgan Securities Inc. and Morgan Stanley.
    The company uses proceeds from securitization transactions to provide long-term financing of automobile retail installment contracts.
    The securities will be issued via an owner trust, AmeriCredit Automobile Receivables Trust 2002-C, in four classes of Notes:

Note Class    Amount      Average Life   Price   Interest Rate
----------    ------      ------------   -----   -------------
  A-1      $235,000,000    0.30 years   100.0000    1.71%
  A-2       315,000,000    0.84 years    99.9990    1.94%
  A-3       480,000,000    2.01 years   100.0000    Swaps + 0.18%
  A-4       270,000,000    3.40 years    99.9819    3.55%
            -----------
         $1,300,000,000
         ==============

    The weighted average coupon paid by AmeriCredit is 3.0%.
    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
  A-4              AAA                Aaa        AAA
             

    This transaction represents AmeriCredit's 34th securitization of automobile receivables in which a total of more than $25 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 purchases installment contracts made by auto dealers to consumers who are typically unable to obtain financing from traditional sources. AmeriCredit has more than one million customers throughout the United States and Canada and more than $14 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.