Asset Acceptance Capital Corp. Amends Registration Statement for Secondary Offering to Include Preliminary First Quarter Results

WARREN, MI - Asset Acceptance Capital Corp. (Nasdaq: AACC), a leading purchaser and collector of charged-off consumer debt, today announced it has filed with the Securities and Exchange Commission Amendment No. 4 to its registration statement for a secondary public offering of 5,000,000 shares of its common stock. As previously announced, all of these shares will be offered by certain selling stockholders, which include members of management and other holders, and none of the shares will be offered by Asset Acceptance. In addition, certain of the selling stockholders also intend to grant the underwriters an over-allotment option to purchase up to an additional 750,000 shares.

As amended by Amendment No. 4, Asset Acceptance disclosed certain preliminary information regarding its results for the first quarter of 2005 under the caption "Prospectus Summary — Our Business — Recent Developments".

The offer will be made only by means of a prospectus.

A registration statement, as amended through Amendment No. 4, relating to these securities has been filed with the Securities and Exchange Commission, but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.