PR – Asset Acceptance Announces Amendment to Credit Agreement

Warren, Mich.-based Asset Acceptance Capital Corp. (Nasdaq: AACC), a leading purchaser and collector of charged-off consumer debt, announced that it entered into an amendment today to its credit agreement. As previously reported on February 22, 2008, Asset Acceptance obtained a temporary waiver of noncompliance with its total liabilities to tangible net worth covenant until March 17, 2008 to permit it time to obtain the amendment.

The amendment to its credit agreement, pursuant to which Asset Acceptance maintains a $100 million revolving credit facility and a $150 million term loan facility, resets two financial covenants and increases the rate of interest the Company pays on borrowings under the credit facility by 25 basis points (0.25 percent). The two financial covenants reset by the amendment are (1) the ratio of consolidated total liabilities to tangible net worth, and (2) the leverage ratio. The amendment also permanently waives the earlier default on the consolidated total liabilities to tangible net worth covenant.