Asset Acceptance Capital Corp. Announces Rion Needs to Succeed Brad Bradley as President...

Asset Acceptance Capital Corp. Announces Rion Needs to Succeed Brad Bradley as
President and CEO, Bradley to Remain as Chairman

WARREN, Mich., Aug. 5 /PRNewswire-FirstCall/ -- Asset Acceptance Capital
Corp. (Nasdaq: AACC) announced that Chief Operating Officer Rion Needs will
ascend to President and CEO of the Company effective January 1, 2009, in line
with a succession plan approved by the board of directors. Needs will succeed
current President and CEO Brad Bradley, who will remain as non-executive
Chairman of the Board. The Board also voted to increase the total number of
directors from eight to nine, and appointed Needs to fill the new board seat
effective January 1, 2009.
"This is an important step in the growth and evolution of Asset Acceptance
and after almost three decades in this business, the time is right for me to
hand the reins to Rion," said Bradley. "Rion was hand-picked to lead Asset
Acceptance and has proven his ability to drive our business, execute
operational improvements and lead with conviction. His experienced leadership
and hands-on approach have earned him the respect of our leadership team,
customers and shareholders alike, which gives the Board and me great
confidence in this transition and the future of the organization."
Mr. Needs has served as COO since joining the Company in mid-2007
following more than 22 years with American Express. Under Needs' leadership,
Asset Acceptance is implementing a new collections platform allowing improved
data analytics and account representative productivity, enhanced account
management processes to optimize collections, and has introduced new training
and career development programs to increase retention among collections
associates.
"I have had the opportunity to work alongside Brad and see first hand the
unique blend of experience and passion that he brings to his leadership role,"
said Needs. "I have big shoes to fill and look forward to continuing the
legacy that Brad built, while continuing to seek his guidance and counsel as
Chairman of the Board."
Mr. Bradley will work closely with Needs and the rest of the management
team through the transition and will continue to be active in the growth and
strategic direction of Asset Acceptance as Chairman. Bradley joined the
organization in 1979 and has been president since 1994, adding the CEO title
in 2003. He was instrumental in expanding the company's collections focus to
become one of the most diversified in the accounts receivables purchasing
industry, secured private equity capital to drive the Company's dramatic
growth, and was at the helm when Asset Acceptance went public in 2004.
About Asset Acceptance Capital Corp.
For more than 45 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 .
SOURCE Asset Acceptance Capital Corp.

Jeff Lambert or Jeff Tryka, both of Lambert, Edwards & Associates,
+1-616-233-0500, aacc@lambert-edwards.com, for Asset Acceptance Capital Corp.