Asset Acceptance Amends Code of Conduct for Officers

Asset Acceptance Capital Corp. has a Code of Business Conduct, its code of ethics that applies to its directors, officers and employees, including its Chief Executive Officer, Chief Financial Officer, Controller and Director of Internal Audit.

On January 17, 2007, with the approval of the Nominating and Corporate Governance Committee of its Board of Directors, Asset Acceptance Capital Corp. amended its Code of Business Conduct. The amendments were made to state more directly (1) the obligations of its directors, officers and employees with respect to the Company’s filings with the Securities and Exchange Commission and other public communications, (2) the process for directors to report violations of the Code of Business Conduct, and (3) the process for administering the Code of Conduct.

A copy of our Code of Business Conduct, as amended, is posted on our internet website at http://www.assetacceptance.com.