Asset Acceptance Capital Corp. Announces Record Date and Meeting Date for Special Meeting of Stockholders

  Asset Acceptance Capital Corp. Announces Record Date and Meeting Date for
  Special Meeting of Stockholders

Business Wire

WARREN, Mich. -- May 06, 2013

Asset Acceptance Capital Corp. (Nasdaq: AACC) (“Asset Acceptance”) announced
today that it has established a record date and a meeting date for a special
meeting of its stockholders to consider and vote upon, among other things, the
proposal to approve the adoption of the Agreement and Plan of Merger, dated as
of March 6, 2013, by and among Asset Acceptance, Encore Capital Group, Inc., a
Delaware corporation (“Encore”) and Pinnacle Sub, Inc., a Delaware corporation
and wholly owned subsidiary of Encore, under which Encore has agreed to
acquire Asset Acceptance for $6.50 per share. Asset Acceptance stockholders
will have the option to receive their consideration in cash or Encore stock or
any combination of cash and Encore stock, at their election, with the
aggregate stock consideration across all stockholder capped at 25% of the
total equity consideration to be received.

Asset Acceptance stockholders of record at the close of business on the record
date, May 3, 2013, will be entitled to notice of the special meeting and to
vote at the special meeting. The special meeting will be held on June13, 2013
at 9:00 a.m. local time at the offices of Kirkland & Ellis LLP located at 601
Lexington Avenue, New York, New York 10022.

The parties continue to target a second quarter 2013 closing of the merger,
subject to the approval of a majority of the outstanding shares of Asset
Acceptance common stock, in addition to other customary closing conditions.

The Registration Statement on Form S-4, File No. 333-187581, which contains
the Company’s proxy statement and also constitutes a prospectus of Encore, was
filed by Encore with the Securities and Exchange Commission (the “SEC”) on
March 27, 2013 and has been declared effective. The prospectus pursuant to
Rule 424(b)(3) under the Securities Act of 1933 was filed with the SEC on May
6, 2013. The definitive proxy statement on Schedule 14A for the Company’s
special meeting of its stockholders was filed by the Company on May 6, 2013.
The Company expects to mail the final proxy statement/prospectus to the
Company’s stockholders over the course of the coming week.

About Asset Acceptance Capital Corp.

For 50 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 www.AssetAcceptance.com.

Additional Information and Where to Find It

THIS PRESS RELEASE IS NOT A REQUEST FOR OR SOLICITATION OF A PROXY OR AN OFFER
TO ACQUIRE ANY SHARES OF THE COMMON STOCK OF ASSET ACCEPTANCE. IN CONNECTION
WITH THE  PROPOSED TRANSACTION WITH ENCORE, ENCORE HAS FILED WITH THE SEC A
REGISTRATION STATEMENT ON FORM S-4, FILE NO. 333-187581 (AS AMENDED, THE
“REGISTRATION STATEMENT”) WITH THE SEC ON MARCH 27, 2013, WHICH CONTAINS ASSET
ACCEPTANCE’S PROXY STATEMENT AND ALSO CONSTITUTES A PROSPECTUS OF ENCORE.
ENCORE HAS FILED WITH THE SEC ON MAY 6, 2013 A PROSPECTUS PURSUANT TO RULE
424(b)(3) UNDER THE SECURITIES ACT OF 1933 AND THE COMPANY HAS FILED WITH THE
SEC ON MAY 6, 2013 ITS DEFINITIVE PROXY STATEMENT ON SCHEDULE 14A FOR ITS
SPECIAL MEETING OF STOCKHOLDERS. THE REGISTRATION STATEMENT HAS BEEN DECLARED
EFFECTIVE BY THE SEC AND ASSET ACCEPTANCE EXPECTS TO MAIL THE FINAL PROXY
STATEMENT/PROSPECTUS TO THE COMPANY’S STOCKHOLDERS OVER THE COURSE OF THE
COMING WEEK. BEFORE MAKING ANY VOTING DECISION, ASSET ACCEPTANCE’S
STOCKHOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT (AND THE ASSET
ACCEPTANCE'S PROXY STATEMENT CONTAINED THEREIN) IN ITS ENTIRETY AND ALL OTHER
RELEVANT DOCUMENTS FILED WITH THE SEC IN CONNECTION WITH THE PROPOSED MERGER
OR INCORPORATED BY REFERENCE IN THE REGISTRATION STATEMENT (AS WELL AS ANY
AMENDMENTS AND/OR SUPPLEMENTS TO THOSE DOCUMENTS) BECAUSE THEY WILL CONTAIN
IMPORTANT INFORMATION ABOUT THE PROPOSED MERGER AND THE PARTIES TO THE MERGER.

ASSET ACCEPTANCE’S STOCKHOLDERS WILL BE ABLE TO OBTAIN THESE DOCUMENTS (WHEN
AVAILABLE) FREE OF CHARGE AT THE SEC’S WEB SITE, HTTP://WWW.SEC.GOV. IN
ADDITION, THEY MAY OBTAIN FREE COPIES OF THESE BY CONTACTING ASSET ACCEPTANCE
CAPITAL CORP. BY MAIL ADDRESSED TO 28405 VAN DYKE AVENUE, WARREN, MICHIGAN
48093, ATTENTION: MARY ARRAF, BY TELEPHONE AT (586) 939-9600 (OPTION 5) OR VIA
ELECTRONIC MAIL TO IR@ASSETACCEPTANCE.COM. ASSET ACCEPTANCE’S STOCKHOLDERS
ALSO MAY READ AND COPY ANY REPORTS, STATEMENTS AND OTHER INFORMATION FILED
WITH THE SEC AT THE SEC PUBLIC REFERENCE ROOM AT 100 F STREET, N.E.,
WASHINGTON, D.C. 20549. PLEASE CALL THE SEC AT 1-800-SEC-0330 OR VISIT THE
SEC’S WEBSITE FOR FURTHER INFORMATION ON ITS PUBLIC REFERENCE ROOM.

ASSET ACCEPTANCE AND ITS DIRECTORS, EXECUTIVE OFFICERS AND CERTAIN OTHER
MEMBERS OF MANAGEMENT AND EMPLOYEES OF ASSET ACCEPTANCE MAY BE DEEMED
“PARTICIPANTS” IN THE SOLICITATION OF PROXIES FROM STOCKHOLDERS OF ASSET
ACCEPTANCE IN FAVOR OF THE PROPOSED MERGER. INFORMATION REGARDING THE PERSONS
WHO MAY, UNDER THE RULES OF THE SEC, BE CONSIDERED PARTICIPANTS IN THE
SOLICITATION OF THE STOCKHOLDERS OF ASSET ACCEPTANCE IN CONNECTION WITH THE
PROPOSED MERGER IS SET FORTH IN THE REGISTRATION STATEMENT AND THE OTHER
RELEVANT DOCUMENTS TO BE FILED WITH THE SEC. YOU CAN FIND INFORMATION ABOUT
ASSET ACCEPTANCE’S EXECUTIVE OFFICERS AND DIRECTORS IN ITS ANNUAL REPORT ON
FORM 10-K FOR THE FISCAL YEAR ENDED DECEMBER 31, 2012, WHICH WAS FILED WITH
THE SEC ON MARCH 7, 2013, AMENDMENT NO. 1 TO THE COMPANY’S ANNUAL REPORT ON
FORM 10-K/A FOR THE FISCAL YEAR ENDED DECEMBER 31, 2012, WHICH WAS FILED WITH
THE SEC ON APRIL 26, 2013, AND IN ITS DEFINITIVE PROXY STATEMENT FOR ITS 2012
ANNUAL MEETING OF STOCKHOLDERS FILED WITH THE SEC ON SCHEDULE 14A ON MARCH 28,
2012.

This document shall not constitute an offer to sell or the solicitation of an
offer to buy any securities, nor shall there be any sale of securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any such
jurisdiction. No offering of securities shall be made except by means of a
prospectus meeting the requirements of Section 10 of the U.S. Securities Act
of 1933, as amended.

Forward Looking Statements

The statements in this press release that are not historical facts, including,
most importantly, those statements preceded by, or that include, the words
"may," "believe," "projects," "expects," "anticipates" or the negation
thereof, or similar expressions, constitute "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act of 1995
(the "Reform Act"). These statements may include, but are not limited to,
statements regarding our future operating results, performance, business plans
or prospects. For all "forward-looking statements," Asset Acceptance claims
the protection of the safe harbor for forward-looking statements contained in
the Reform Act. Such forward-looking statements involve risks, uncertainties
and other factors which may cause actual results, performance or achievements
of Asset Acceptance and its subsidiaries to be materially different from any
future results, performance or achievements expressed or implied by such
forward-looking statements. These risks, uncertainties and other factors are
discussed in the reports filed by Asset Acceptance with the Securities and
Exchange Commission, including the most recent reports on Forms 10-K, 10-Q and
8-K, each as it may be amended from time to time. Asset Acceptance disclaims
any intent or obligation to update these forward-looking statements

Contact:

Asset Acceptance Investor Relations
Mary Arraf, 586-983-7087
marraf@assetacceptance.com
 
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