Asset Acceptance Announces Plan for Former Company Officers to Sell 3,500,000 Shares

Asset Acceptance Capital Corp. today announced that, effective June 14, 2006, Rufus “Bud” Reitzel, Jr., a former director and officer of the company, and Heather Reitzel, a former officer of the company and the spouse of Mr. Reitzel, as well as certain trusts controlled by them, have entered into a 10b5-1 trading plan pursuant to Rule 10b5-1 of the Securities Exchange Act of 1934. Mr. Reitzel, at age 71, officially retired from the Company on Feb. 28, 2006 after 45 years with the company and its predecessors, and Ms. Reitzel officially retired from the Company on May 16, 2006. Under the terms of Mr. and Mrs. Reitzel’s 10b5-1 plan, they may sell up to 3,558,326 shares. Unless sooner terminated by Mr. and Mrs. Reitzel, their 10b5-1 plan expires Dec. 31, 2007.

Rule 10b5-1 allows persons who may be considered company insiders to establish written pre-arranged stock trading plans when they do not have material, non-public information. The plan establishes predetermined trading parameters that do not permit the person adopting the plan to exercise any influence over how, when or whether to affect trades. Transaction under these plans will be disclosed publicly through Form 144 filings as required by the SEC.