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Credit Acceptance Corp. Announces Stock Repurchase Program

6 August 1999

Credit Acceptance Corp. Announces Stock Repurchase Program

    SOUTHFIELD, Mich.--Aug. 5, 1999--Credit Acceptance Corp. announced today that its board of directors has authorized a common stock repurchase program of up to 1,000,000 shares of the company's common stock.
    The shares, which can be repurchased through the open market or in privately negotiated transactions, represent 2.2 percent of the approximately 46 million outstanding shares as of July 31, 1999.
    Credit Acceptance Corp. is a specialized financial services company which provides funding, receivables management, collection, sales training and related products and services to automobile dealers selling vehicles to consumers with limited access to traditional sources of consumer credit.