Executive Change: Edwin "Skip" Herbert to Asset Acceptance

Asset Acceptance Capital Corp. (Nasdaq: AACC) today announced the addition of Edwin "Skip" Herbert as General Counsel.

Herbert brings more than 30 years of legal experience to Asset Acceptance. Previously, he was an equity partner and a member of the financial institutions practice group at Shumaker, Loop & Kendrick, LLP, where he concentrated his practice on financial institution mergers and acquisitions, corporate governance, public company SEC reporting and public and private securities offerings.

"Skip’s wealth of legal experience, highlighted by his knowledge of compliance and regulatory matters, make him a valuable addition to our team," said Brad Bradley, president, chairman and CEO of Asset Acceptance. "His work in the public company sector, both as in-house counsel and in private practice serving the financial services industry, positions him as an integral part of our team as we continue to build our business for the long-term. We welcome Skip to the Asset family."

Prior to joining Shumaker, Loop & Kendrick in 2004, Mr. Herbert was a partner with Werner & Blank, LLC, which affiliated its national financial institutions practice with Shumaker, Loop & Kendrick in 2004. Mr. Herbert was Executive Vice President and General Counsel of ValliCorp Holdings, Inc., from 1994 until its acquisition by Westamerica Bancorporation in 1997, and Executive Vice President and General Counsel of CFX Corporation, from 1997 until its acquisition by TD Banknorth, Inc. in 1998. Prior to joining Vallicorp, Mr. Herbert had been a managing attorney for Firstar Corporation from 1983 to 1994, and had also served in the legal departments of two Fortune 100 companies.

A 1975, J.D. cum laude graduate of the Ohio State University Moritz College of Law, Mr. Herbert holds a B.A., cum laude, from the University of Notre Dame. He is a member of the Ohio and California bars, and a member of the American Bar Association.