AmeriCredit Announces $750 Million Senior Subordinate Asset-Backed Securitization.

FORT WORTH, Texas -- AmeriCredit Corp. (NYSE:ACF) announced today the pricing of a $750 million offering of automobile receivables-backed securities through lead managers Credit Suisse First Boston and Deutsche Bank Securities. Co-managers are Barclays Capital, JPMorgan and Wachovia Securities. AmeriCredit uses net proceeds from securitization transactions to provide long-term financing of its receivables.

This transaction employs a combination of subordinated notes, overcollateralizaton and restricted cash to support the ratings in place of bond insurance. This transaction represents the Company's fifth senior subordinate securitization.

The securities will be issued via an owner trust, AmeriCredit Automobile Receivables Trust 2005-1, in seven classes of Notes:

Note Class         Amount         Average Life     Price    Interest
                                                                Rate
-------------- ------------------- -------------- ----------- --------
     A-1          $138,000,000       0.22 years    100.0000   3.1425%
     A-2          256,000,000        0.95 years    99.99510    3.82%
     A-3          107,330,000        1.94 years    99.99645    4.26%
      B            63,660,000        2.54 years    99.98843    4.48%
      C            79,570,000        3.22 years    99.97347    4.73%
      D            53,710,000        3.64 years    99.97810    5.04%
      E            51,730,000        1.48 years    99.98927    5.82%
               -------------------
                  $750,000,000
               ===================

The weighted average coupon on the Notes to be paid by AmeriCredit is 4.5%. For comparative purposes, senior subordinate structures do not require payments to a bond insurance guarantor.

The 2005-1 will have initial credit enhancement of 7.75% of the original receivable pool balance, building to the total required enhancement level of 17.5% of the then-outstanding receivable pool balance. The initial 7.75% enhancement will consist of a 2.0% cash deposit and 5.75% overcollateralization.

Overcollateralization in a senior subordinate securitization is not comparable to a bond-insured transaction due to credit enhancement support needed for the subordinated bonds under certain severe loss assumptions as required by the rating agencies.

The Note Classes are rated by Standard & Poor's and Moody's Investors Service. The ratings by Note Class are:

Note Class          Standard & Poor's            Moody's
---------------------- ------------------------ ----------------------
         A-1                     A-1+                  Prime-1
         A-2                     AAA                     Aaa
         A-3                     AAA                     Aaa
          B                       AA                     Aa1
          C                       A                       A1
          D                      BBB                     Baa2
          E                       BB                     Ba2

This transaction represents AmeriCredit's 48th securitization of automobile receivables in which a total of more than $37 billion of automobile receivables-backed securities has been issued.

Copies of the prospectus relating to this offering of receivables-backed securities may be obtained from the managers and co-managers. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities described in this press release, nor shall there be any sale of these securities in any State in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such State.

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.