DALLAS, April 30 /PRNewswire-FirstCall/ -- Liberte Investors Inc.
(NYSE: LBI) ("Liberte"), today confirmed the successful completion of the
previously announced $50 million rights offering and the closing of its
acquisition of USAuto Holdings.  Accordingly, Liberte has changed its name to
First Acceptance Corporation and its trading symbol will change effective
9:00 am eastern time on Monday, May 3 to NYSE: FAC.  In addition, Mr. Stephen
J. Harrison, the Chief Executive Officer of USAuto Holdings, has become the
Chief Executive Officer of First Acceptance Corporation.

    This announcement is neither an offer to sell nor a solicitation of an
offer to buy, nor shall there be any sale of these securities in any state in
which such offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state.  These
securities may only be offered by a means of prospectus.

    Statements in this release that are not historical, including without
limitation statements regarding the plans, expectations, assumptions and
estimations with respect to the transaction and the results thereof, are
considered forward-looking statements and speak only as of the date hereof.
These statements can be identified by the fact that they use words such as
"anticipate," "estimate," "expect," "project," "intend," "plan," "believe" and
other such words and terms of similar meaning.  As such, these statements are
subject to a number of risks and uncertainties.  Actual results may be
materially different from those expressed or implied by these statements.
Factors that could cause or contribute to such differences include, but are
not limited to, the receipt and timing of regulatory approvals for the
transaction, the risk that the companies may be required to modify aspects of
the transaction to obtain regulatory approvals, the possibility that the
transaction will not close or that a delay in the timing thereof will be
experienced, the individual risks faced by each company, including as a result
of the announcement of the transaction.  More information about these risks
and uncertainties and other risks and uncertainties facing Liberte may be
found in the most recent Form 10-K and in the subsequent Form 10-Qs and other
periodic filings of Liberte with the U.S. Securities and Exchange Commission.
Liberte does not undertake to publicly update or revise any forward-looking
statements contained herein even if experience or future changes or
circumstances make it clear that any projected results expressed or implied
therein will not be realized.

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