AmeriCredit Completes 2nd Asset-Backed Securitization in Canada.

Business Editors

FORT WORTH, Texas--(BUSINESS WIRE)--Nov. 18, 2002

AMERICREDIT CORP. (NYSE:ACF) announced the pricing of a C$246,125,000 offering of automobile receivables-backed securities through lead manager Merrill Lynch Canada Inc. and selling agents CIBC World Markets Inc., TD Securities Inc. and Royal Bank Capital Markets.

AmeriCredit uses proceeds from securitization transactions to provide long-term financing of automobile loans.

This transaction represents AmeriCredit's second securitization of its Canadian loan portfolio. This transaction is similar to the

company's US dollar denominated senior subordinated securitizations

and employs a combination of subordinated notes, overcollateralization and a reserve fund to support the ratings instead of bond insurance.

The securities will be issued via AmeriCredit Canada Automobile Receivables Trust and represent Series C2002-1. Four classes of notes will be issued in addition to a variable pay note (VPN) in the amount of C$65,000,000. The four classes are:

-0-

Note Class     Amount          Average Life      Interest Rate
----------  -------------      ------------     ------------------
   A-1      C$ 36,437,000       0.54 years       3 mo CDOR + 0.20%
   A-2        100,000,000       2.04 years          4.084%
     B         22,688,000       4.04 years          7.395%
     C         22,000,000       4.04 years          8.539%
               ----------
            C$181,125,000
            =============

The weighted average coupon paid by AmeriCredit is 5.5% (including the VPN).

The note classes are rated by Standard & Poor's, Moody's Investors Service, Inc. and Dominion Bond Rating Service Limited (DBRS). The

ratings by note class are:

-0-

Note Class         Standard & Poor's        Moody's            DBRS
----------         -----------------        -------            ----
    A-1                 AAA                   Aaa          R-1 (high)
    A-2                 AAA                   Aaa               AAA
      B                   A                    A2                 A
      C                 BBB                  Baa2               BBB

This transaction represents AmeriCredit's 37th securitization of automobile receivables in which a total of more than $27 billion of

automobile receivables-backed securities has been issued.

AmeriCredit Corp. is the largest independent middle-market auto finance company in North America. Using its branch network and

strategic alliances with auto groups and banks, the company purchases installment contracts made by auto dealers to consumers who are

typically unable to obtain financing from traditional sources.

AmeriCredit has more than one million customers throughout the United States and Canada and more than $15 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.