Asset Acceptance Announces Extension of Tender Offer

Asset Acceptance Capital Corp. (NASDAQ: AACC), a leading purchaser and collector of charged-off consumer debt, announced Friday that it will extend until June 12, 2007 the expiration date of its previously announced cash tender offer to purchase up to 1,858,000 shares (plus up to an additional 2% of shares outstanding) in a price range of $18.25 to $20.00 per share. 

The expiration of the Offer has been extended to coincide with the financing timeline, which has been revised to accommodate more favorable pricing terms. 

The tender offer will now expire at 5 p.m. EDT on June 12, 2007, unless further extended.  Tenders of AACC common stock must be made prior to the extended expiration time of the Offer and may be withdrawn at any time prior to that time.  Holders of AACC common stock who tendered their shares prior to the date of this release are NOT required to submit a new Letter of Transmittal to tender their shares.  As of midnight, EDT, on May 31, 2007, 499 shares had been tendered.

J.P. Morgan Securities Inc. is the dealer manager for the Offer.  MacKenzie Partners, Inc. is the information agent and LaSalle Bank, National Association is the depositary in the Offer.