AmeriCredit Announces $945 Million Senior Subordinate Asset-Backed Securitization.

FORT WORTH, Texas -- AMERICREDIT CORP. (NYSE:ACF) announced today the pricing of a $945 million offering of automobile receivables-backed securities through lead managers Deutsche Bank Securities and JPMorgan. Co-managers are Barclays Capital, Credit Suisse 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, overcollateralization and restricted cash to support the ratings in place of bond insurance. This transaction represents the Company's sixth senior subordinate securitization.

The securities will be issued via an owner trust, AmeriCredit Automobile Receivables Trust 2006-1, in seven classes of Notes:

Note Class      Amount      Average Life      Price     Interest Rate
----------- -------------- --------------- ------------ --------------
       A-1   $166,000,000      0.25 years    100.00000           4.78%
       A-2    309,000,000      0.95 years     99.99870           5.11%
       A-3    200,000,000      2.12 years     99.99342           5.11%
         B     75,000,000      2.95 years     99.97757           5.20%
         C     80,000,000      3.52 years     99.99176           5.28%
         D     50,000,000      3.68 years     99.97768           5.49%
         E     65,000,000      1.67 years     99.99515           6.62%
            --------------
             $945,000,000
            ==============

The weighted average coupon on the Notes to be paid by AmeriCredit is 5.3%. For comparative purposes, senior subordinate structures do not require payments to a bond insurance guarantor.

The 2006-1 transaction will have initial credit enhancement of 7.00% of the original receivable pool balance, building to the total required enhancement level of 16.5% of the then-outstanding receivable pool balance. The initial 7.00% enhancement will consist of a 1.50% cash deposit and 5.50% 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                     Aa2
                    C                       A                      A2
                    D                    BBB+                    Baa2
                    E                      BB                     Ba2

This transaction represents AmeriCredit's 52nd securitization of automobile receivables in which a total of more than $42 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.