AACC Asset Acceptance Capital Corp. (MM)

Asset Acceptance Capital Corp. Announces Executive 10b5-1 Trading Plans WARREN, Mich., Jan. 27 /PRNewswire-FirstCall/ -- Asset Acceptance Capital Corp. (NASDAQ:AACC) today announced that several members of its executive management team have established pre-determined trading plans. The stock trading plans comply with Rule 10b5-1 under the Securities Exchange Act of 1934 and allow executives to sell a limited portion of their holdings during open trading periods based upon pre-determined stock prices. The aggregate amount of stock which could be sold under these plans is 94,747 shares. The executives who established these plans are: Philip Allen, Vice President - Operations; Deborah Everly, Vice President - Marketing; Elise Gray, Vice President - Human Resources; Diane Kondrat, Vice President - Legal Collections; Mark Redman, Vice President - Finance, and Chief Financial Officer; and Barbara Sinsley, Compliance Counsel. In each case, the amount of stock placed into the 10b5-1 plans constitutes 20 percent or less of the total common stock owned by each of the executives. Taken together, the total amount of stock being sold constitutes 6.4 percent of the stock holdings of the participating executives and approximately 0.25 percent of the issued and outstanding common stock of the Company. "Several members of the executive management team have established pre- arranged stock trading plans to gradually diversify their holdings in an orderly fashion," said Brad Bradley, president and CEO of Asset Acceptance Capital Corp. "The management team will continue to have significant holdings in Asset Acceptance, reflecting their confidence and long-term outlook of the Company. This is especially true when it is considered that the executives who established the plans will own 1,384,652 shares of the Company's stock even if all of the stock placed in the plan is sold during the terms of the plan." Rule 10b5-1 plans permit directors and corporate officers to adopt written, pre-determined stock trading plans during open trading periods and when not in possession of material non-public information. In addition to asset diversification, such plans aim to reduce market impact and alleviate concerns about whether the corporate officers were in possession of material, non-public information at the time of their sales. 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 http://www.assetacceptance.com/ . Asset Acceptance Safe Harbor Statement This press release contains certain statements, including the Company's plans and expectations regarding its operating strategies, charged-off receivables and costs, which are forward-looking statements and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. These forward-looking statements reflect the Company's views, at the time such statements were made, with respect to the Company's future plans, objectives, events and financial results such as revenues, expenses, income, earnings per share, capital expenditures, and other financial items. Forward- looking statements are not guarantees of future performance; they are subject to risks and uncertainties. In addition, words such as "estimates," "expects," "intends," "should," "will," variations of such words and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions ("Risk Factors") that are difficult to predict with regard to timing, extent, likelihood and degree of occurrence. There are a number of factors, many of which are beyond the Company's control, which could cause actual results and outcomes to differ materially from those described in the forward-looking statements. Risk Factors include, among others: ability to purchase charged-off consumer receivables at appropriate prices, ability to continue to acquire charged-off receivables in sufficient amounts to operate efficiently and profitably, employee turnover, ability to compete in the marketplace, acquiring charged-off receivables in industries that the Company has little or no experience, integration and operations of newly acquired businesses, and additional factors discussed in the Company's reports filed with the Securities and Exchange Commission and exhibits thereto. Other Risk Factors exist, and new Risk Factors emerge from time to time that may cause actual results to differ materially from those contained in any forward-looking statements. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results. Furthermore, the Company expressly disclaims any obligation to update, amend or clarify forward-looking statements. DATASOURCE: Asset Acceptance Capital Corp. CONTACT: Tim Hanson or Jeff Lambert of Lambert, Edwards & Associates, Inc., +1-616-233-0500, , for Asset Acceptance Capital Corp. Web site: http://www.assetacceptance.com/

Copyright