Credit Acceptance Corporation Announces Final Results of Its Modified Dutch Auction Tender Offer

Credit Acceptance Corporation announced the final results of its modified Dutch auction tender offer, which expired at 5:00 p.m. Eastern Standard Time, on September 26, 2006.

Credit Acceptance commenced the tender offer on August 28, 2006, to purchase up to 3,500,000 shares of its common stock at a price between $28.00 and $31.50 per share, net to the seller in cash, without interest. Based on the final count by Computershare Trust Company of New York, the depositary for the tender offer, 20,552,028 shares of common stock were properly tendered and not withdrawn at prices between $28.00 and $31.50 per share.

The final count of shares properly tendered is less than the amount communicated in the Company’s preliminary announcement on September 27, 2006 by 24,584 shares due to failed deliveries of guaranteed delivery shares. Because more than the maximum 3,500,000 shares were tendered, the Company purchased only a prorated portion of the shares tendered by each tendering shareholder, other than odd lot shareholders, as described in the Company’s Offer to Purchase.

The proration factor used by the Company in purchasing tendered shares was 17.0%. Credit Acceptance has purchased 3,500,000 tendered shares of its common stock at a price of $31.50 per share, at a total cost of approximately $110.3 million, which includes 3,313,629 shares owned by Donald Foss, the Company’s Chairman of the Board. The Company financed the purchase of its securities in the tender offer by borrowing under its $135.0 million revolving credit facility and $325.0 million revolving warehouse facility.

As a result of the completion of the tender offer, Credit Acceptance has approximately 30.1 million shares of common stock outstanding. Georgeson Shareholder Communications, Inc. was the information agent for the offer.