Asset Acceptance Capital Corp. to Join Russell 2000 Index

WARREN, Mich., — Asset Acceptance Capital Corp. (Nasdaq: AACC) today announced it has been selected to join the Russell 2000® Index when the broad-market index is reconstituted June 25, 2004.

We are honored that Asset Acceptance has been selected as one of the respected companies listed on the Russell 2000 Index," said Brad Bradley, President and CEO of Asset Acceptance Capital Corp. "This prestigious ranking will increase our visibility, enhance shareholder value and build upon the success started by our recent initial public offering."

Annual reconstitution of the Russell Index captures the 3,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization. The largest 1,000 companies in the ranking comprise the Russell 1000® Index while the remaining 2,000 companies become the widely used Russell 2000 Index.

About The Frank Russell Company
The Frank Russell Company, one of the world's leading investment managers and advisory firms, established the Russell 3000® Index. Russell's investment management business employs a manager-of-managers approach with $60 billion in assets under management. The company has retainer-consulting relationships with clients representing more than US$1 trillion worldwide. Frank Russell became a subsidiary of The Northwestern Mutual Life Insurance Company in January 1999. Founded in 1936, Russell is headquartered in Tacoma, Wash., and has offices in New York, Toronto, London, Paris, Sydney, Singapore and Tokyo.

About Asset Acceptance Capital Corp.
For more than 40 years, Asset Acceptance has provided credit originators, such as credit card issuers, consumer finance companies, retail merchants, utilities and others an efficient alternative in recovering defaulted consumer debt. For more information, please visit the Company's web site at www.assetacceptance.com.