AmeriCredit to Acquire Bay View Acceptance Corporation

FORT WORTH, Texas--Nov. 7, 2005--AmeriCredit Corp. today announced a definitive agreement for its operating subsidiary, AmeriCredit Financial Services, Inc., to acquire all of the outstanding capital stock of Bay View Acceptance Corporation (BVAC). BVAC is the auto finance subsidiary of Bay View Capital Corporation. The acquisition is an all-cash transaction that values BVAC at $62.5 million, which was approximately book value at June 30, 2005.

Bay View Acceptance Corporation acquires retail auto installment contracts from auto dealers in 32 states offering specialized products, including extended term financing and larger advances, to customers with prime credit scores. As of June 30, 2005, it had approximately 33,000 customers and $684 million in managed auto receivables.

AmeriCredit is a leading independent auto finance company that operates throughout the United States. The company uses its branch network and strategic alliances with auto groups and banks to purchase retail installment contracts entered into by auto dealers with consumers who are typically unable to obtain financing from traditional sources. AmeriCredit has approximately one million customers and $11 billion in managed auto receivables.

"This acquisition provides us with an additional growth platform for the future and allows us to diversify our portfolio by adding some prime quality business," says Dan Berce, President and Chief Executive Officer of AmeriCredit Corp. "Bay View is a strong niche marketer that offers unique products at premium prices to borrowers with excellent credit."

"Since early last year, AmeriCredit has consistently used excess capital to repurchase shares of company stock, and that is going to continue. This acquisition is an effort to further utilize excess capital -- in addition to our share buyback program -- to grow the company in other niches that are complementary and supportive of our core business," Mr. Berce adds.

The AmeriCredit Corp. Board of Directors has approved the acquisition, which is expected to close during the first half of calendar year 2006, subject to customary closing conditions.

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, 2005. Such risks include -- but are not limited to -- variable economic conditions, adverse portfolio performance, volatile wholesale values, reliance on warehouse financing and capital markets, the ability to continue to securitize its loan portfolio, the continued availability of credit enhancement for its securitization transactions on acceptable terms, fluctuating interest rates, increased competition, regulatory changes and exposure to litigation. 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.

About AmeriCredit

AmeriCredit Corp. is a leading independent auto finance company. 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 approximately one million customers and $11 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.