Credit Acceptance Corp. and Western Diversified announce alliance finance program to be marketed nationwide.

SOUTHFIELD, Mich.--(BUSINESS WIRE)--May 21, 1996--Credit Acceptance Corp. (CAC) and Western Diversified today announced a joint program created to expand the availability of alternative financing to automobile dealers across the United States.

The companies, which have had a three-year relationship, will immediately roll out the program nationwide.

Directed toward the sub-prime finance market, CAC and Western Diversified will provide participating dealers with the opportunity to fund installment loans for buyers who might otherwise be unable to obtain financing. By providing a secure source of financing, dealers are able to create additional profit opportunities for their dealerships.

CAC has expertise in servicing automobile dealers since 1972 and is publicly traded on the Nasdaq Stock Market System. Utilizing state-of-the-art technology, CAC is able to service dealers' account receivables while enhancing dealership cashflow and providing valuable dealer training.

Western Diversified, a leading provider of high quality services for the automobile industry for over 32 years, will assist in providing training and marketing support for CAC's financing program to certain dealers serviced by Western Diversified.

Through this joint program, both CAC and Western Diversified will directly respond to the increasing need for dealer and consumer financing sources in the area of sub-prime credit.

CONTACT: Credit Acceptance Corp.

Richard E. Beckman, 810/353-2700, ext. 422

or

Western Diversified

Rob Mancuso, 800/323-5771