Asset Acceptance Announces Ribbon-Cutting Ceremony for New Corporate Headquarters

WARREN, MI - Asset Acceptance Capital Corp. (Nasdaq: AACC) today announced it will host a ribbon-cutting ceremony for its new corporate headquarters in Warren, Mich. on Wednesday, Feb. 16 at 10 a.m.

The new 200,000 square-foot facility, located in Warren's Renaissance Zone, more than doubles the size of the Company's former headquarters. The building allows Asset Acceptance to consolidate all of its corporate operations and Warren collections group from three buildings into one and allows for continued growth.

Initially, Asset Acceptance will occupy 75 percent of the 200,000 square- foot building. When fully occupied, the new building will house approximately 1,400 staff. Currently, the Company employs more than 600 at the Warren facility and more than 800 in Michigan.

Asset Acceptance Chairman Bud Reitzel and CEO and President Brad Bradley will host the ribbon-cutting ceremony. They will be joined by State Representative Lisa Wojno, Warren Mayor Mark Steenbergh as well as other local and state dignitaries, the Michigan Economic Development Corporation (MEDC) and other key partners.

"When I began what would become Asset Acceptance more than 40 years ago, I was the only employee — today, we're a public company, employing over 1,800 in eight states and dedicating a new corporate headquarters," said Bud Reitzel, chairman of Asset Acceptance Capital Corp. "Since 1996 we have proudly called Warren home, and with this new building, we will continue to grow and call Warren home for many years to come.

"Our new headquarters is a testament to Renaissance Zones and the hard work and dedication of many people from the City of Warren, the MEDC, the State of Michigan and others," said Reitzel.