AmeriCredit Reports Second Quarter Operating Results.

* Quarterly loan originations increased 30% from the prior year

* 2(nd) quarter earnings of $95 million, $0.74 per share

* FY07 earnings guidance updated

FORT WORTH, Texas -- AMERICREDIT CORP. (NYSE:ACF) today announced net income of $95 million, or $0.74 per share, for its fiscal second quarter ended December 31, 2006. AmeriCredit reported net income of $87 million, or $0.59 per share, for the same period a year earlier. For the six months ended December 31, 2006, AmeriCredit reported net income of $170 million, or $1.27 per share, versus earnings of $141 million, or $0.93 per share, for the six months ended December 31, 2005.

Net income for the three and six months ended December 31, 2006, included a $23 million after-tax gain ($36 million pre-tax), or $0.18 per share and $0.17 per share, respectively, related to the partial sale of AmeriCredit's investment in DealerTrack Holdings, Inc. Net income for all periods ended December 31, 2005, included a $6 million after-tax gain ($9 million pre-tax), or $0.04 per share, related to the partial sale of AmeriCredit's investment in DealerTrack Holdings, Inc.

Automobile loan purchases increased to $1.74 billion for the second quarter of fiscal year 2007, compared to $1.34 billion for the same period last year. Loan purchases for the six months ended December 31, 2006, were $3.42 billion compared to $2.86 billion for the same period a year earlier. Managed receivables totaled $12.58 billion at December 31, 2006, compared to $11.00 billion at December 31, 2005.

Annualized net charge-offs totaled 5.8% of average managed receivables for the December 2006 quarter compared to 5.9% for the December 2005 quarter. For the six months ended December 31, 2006, annualized net charge-offs were 5.6% compared to 5.8% for the same period last year.

Managed auto receivables 31-to-60 days delinquent were 6.7% of the portfolio at December 31, 2006, compared to 6.5% at December 31, 2005. Accounts more than 60 days delinquent were 2.6% of the portfolio at December 31, 2006, compared to 2.8% at December 31, 2005.

"With the broader product spectrum provided by our recent acquisitions and solid origination trends coming out of the first half of our fiscal year, we are well positioned to take advantage of the seasonally strong March and June quarters," said President and Chief Executive Officer Dan Berce.

Regulation FD

Pursuant to Regulation FD, the Company provides its expectations regarding future business trends to the public via a press release or 8-K filing. The Company anticipates some risks and uncertainties with its business.

The following net income and earnings per share forecasts have been updated from guidance provided on October 24, 2006, to reflect the impact of the acquisition of Long Beach Acceptance Corp. on January 1, 2007, and a pre-tax gain of $16 million on the sale of the Company's remaining investment in DealerTrack Holdings, Inc., in January 2007.

Net income and EPS forecasts

                         <                      <  Revised

Previous




                         <                      <  Fiscal year ending

Fiscal year ending




                         <                      <  June 30, 2007

June 30, 2007




Net income ($ millions)  <                      <  $337 - $367

$325 - $355




                         <                      <






Earnings per share       <                      <  $2.54 - $2.74

$2.45 - $2.65

The forecasts for fiscal year 2007 incorporate, but are not limited to, the following assumptions, which include Long Beach:

* New loan origination volume of $7.8 to $8.4 billion;

* Net interest margin of 11.6% to 12.6% of average receivables;

* Operating expenses of 2.8% to 3.2% of the portfolio;

* Credit losses to average between 4.3% and 5.3% overall for the fiscal year, but varying seasonally by quarter; and

* Annualized provision for loan losses as a percent of average receivables to range between 4.8% and 5.8%.

These forecasts do not include any future share repurchase activity.

AmeriCredit will host a conference call for analysts and investors today at 5:30 P.M. Eastern Time. For a live Internet broadcast of this conference call, please go to the Company's Web site to register, download and install any necessary audio software. For those who cannot listen to the live broadcast, a replay will be available shortly after the call.

About AmeriCredit

AmeriCredit Corp. is a leading independent automobile finance company that provides financing solutions indirectly through auto dealers and directly to consumers in the United States and Canada. AmeriCredit has over one million customers and approximately $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.

Except for the historical information contained herein, the matters discussed in this news release include forward-looking statements that involve risks and uncertainties detailed from time to time in the Company's filings and reports with the Securities and Exchange Commission including the Company's annual report on Form 10-K for the year ended June 30, 2006. Such risks include - but are not limited to - variable economic conditions, adverse portfolio performance, volatile wholesale values, reliance on warehouse financing and capital markets, the ability to continue to securitize its loan portfolio, the continued availability of credit enhancement for its securitization transactions on acceptable terms, fluctuating interest rates, increased competition, the ability to integrate operational and strategic platforms, regulatory changes and exposure to litigation. These forward-looking statements are based on the beliefs of the Company's management as well as assumptions made by and information currently available to Company management. Actual events or results may differ materially.

AmeriCredit Corp.

Consolidated Income Statements 

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Consolidated Balance Sheets 

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Consolidated Statements of Cash Flows

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Other Financial Data

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The Company's net margin as reflected on the consolidated statements of income, excluding a $36 million and a $9 million pre-tax gain on the partial sale of the Company's investment in DealerTrack Holdings, Inc., realized during the three and six months ended December 31, 2006 and 2005, respectively, is as follows:

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The following table provides additional information for comparative purposes related to the Company's acquisition of Bay View Acceptance Corporation on May 1, 2006:

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