AmeriCredit Announces $1 Billion Whole Loan Purchase Facility

    FORT WORTH, Texas--March 19, 2003--AMERICREDIT CORP. today announced that it has transferred $1 billion of auto finance receivables into a whole loan purchase facility arranged by Deutsche Bank Securities Inc. ("Deutsche"). AmeriCredit will continue to service the transferred receivables earning a fee of 2.25% per annum. Proceeds will be used to pay down outstanding balances on its warehouse credit facilities.
    This facility has a six-month revolving period during which AmeriCredit will transfer additional receivables to the facility as necessary to replenish the amount of principal paid down by consumers and to replace delinquent receivables. After this period, Deutsche may determine the ultimate disposition of the receivables.
    "This whole loan purchase facility is an important complement to our asset-backed program," said Daniel Berce, AmeriCredit's chief financial officer. "This funding option allows us to permanently finance our receivable inventory while we continue to pursue opportunities in the securitization market." This is the first time AmeriCredit has utilized a whole loan purchase facility as a source of funding.

    AmeriCredit Corp. is one of 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 retail installment contracts entered into by auto dealers with 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 $16 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.

    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, 2002. 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.