AmeriCredit Announces Pricing of Securitization of $1 Billion of Receivables.

Business Editors

FORT WORTH, Texas--(BUSINESS WIRE)--Sept. 3, 2003

AmeriCredit Corp. (NYSE:ACF) announced the pricing of a securitization of $1 billion of automobile retail installment contracts. Asset-backed securities totaling $915 million were offered through lead manager Deutsche Bank Securities. Co-managers are JP Morgan, Lehman Brothers and Wachovia Securities. AmeriCredit uses net proceeds from securitization transactions to provide long-term financing of its receivables.

The securities will be issued via an owner trust, AmeriCredit Automobile Receivables Trust 2003-C-F, in four classes of Notes:

Note Class        Amount     Average Life      Price     Interest Rate
-----------   -------------- ------------- ------------- -------------
     A-1       $195,000,000     0.22 years   100.000000       1.12563%
     A-2       $326,000,000     1.00 years    99.991491          1.74%
     A-3       $188,000,000     2.00 years    99.995840          2.75%
     A-4       $206,000,000     2.93 years    99.990041          3.48%
              --------------
               $915,000,000
              ==============

The weighted average coupon is 2.8%.

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

Note Class          Standard & Poor's       Moody's        Fitch
------------------- -----------------   -------------- ---------------
     A-1                  A-1+             Prime-1          F1+
     A-2                   AAA                 Aaa          AAA
     A-3                   AAA                 Aaa          AAA
     A-4                   AAA                 Aaa          AAA

Financial Security Assurance will provide bond insurance for this transaction. Initial credit enhancement will total 11.5% of the original receivable pool balance building to the total required enhancement level of 18% of the then outstanding receivable pool balance. The initial 11.5% enhancement will consist of 2% cash and 9.5% overcollateralization.

This transaction represents AmeriCredit's 40th securitization of automobile receivables in which a total of more than $30 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 manager 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 middle-market 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 more than one million customers and over $14 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.