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<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>2
<PERIOD>20050421
<ITEMS>7.01
<ITEMS>9.01
<FILING-DATE>20050422
<DATE-OF-FILING-DATE-CHANGE>20050422
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>ACE CASH EXPRESS INC/TX
<CIK>0000849116
<ASSIGNED-SIC>6099
<IRS-NUMBER>752142963
<STATE-OF-INCORPORATION>TX
<FISCAL-YEAR-END>0630
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>000-20774
<FILM-NUMBER>05765935
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>1231 GREENWAY DR STE 800
<CITY>IRVING
<STATE>TX
<ZIP>75038
<PHONE>2145505000
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>1231 GREENWAY DR #800
<CITY>IRVING
<STATE>TX
<ZIP>75038
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>ACE CASH EXPRESS INC
<DATE-CHANGED>19921016
</FORMER-COMPANY>
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<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d24540e8vk.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>




<P align="center" style="font-size: 14pt"><B>SECURITIES AND EXCHANGE COMMISSION</B>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
</DIV>

<P align="center" style="font-size: 18pt"><B>FORM 8-K</B>


<P align="center" style="font-size: 12pt"><B>CURRENT REPORT<BR>
Pursuant to Section&nbsp;13 or 15(d) of the Securities<BR>
Exchange Act of 1934</B>


<P align="center" style="font-size: 10pt"><B>April&nbsp;21, 2005</B><BR>
(Date of earliest event reported)

<P align="center" style="font-size: 24pt"><B>ACE CASH EXPRESS, INC.</B>


<DIV align="center" style="font-size: 10pt">(Exact name of registrant as specified in its charter)</DIV>


<DIV align="center">
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    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
</TR>
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<TR valign="bottom">
    <TD align="center" valign="top"><B>Texas</B><BR>
(State or other jurisdiction of<BR>
incorporation)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>0-20774</B><BR>
(Commission file number)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>75-2142963</B><BR>
(I.R.S. employer<BR>
identification no.)</TD>
</TR>
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</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><B>1231 Greenway Drive, Suite&nbsp;600<BR>
Irving, Texas 75038</B><BR>
(Address of principal executive offices)



<P align="center" style="font-size: 10pt"><B>(972)&nbsp;550-5000</B><BR>
(Registrant&#146;s telephone number,<BR>
including area code)



<P align="center" style="font-size: 10pt"><B>Not Applicable</B><BR>
(Former Name or Former Address,<BR>
if Changed Since Last Report)



<P align="left" style="font-size: 10pt"><DIV style="border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>

<P align="left" style="font-size: 10pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy
the filing obligation of the registrant under any of the following provisions (see General
Instruction A.2 below):



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    <TD>Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)</TD>
</TR>
</TABLE>


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    <TD width="99%"></TD>
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    <TD nowrap><FONT face="Wingdings">&#111;</FONT>&nbsp;</TD>
    <TD>Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD>
</TR>
</TABLE>


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    <TD nowrap><FONT face="Wingdings">&#111;</FONT>&nbsp;</TD>
    <TD>Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</TD>
</TR>
</TABLE>


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    <TD width="99%"></TD>
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<TR valign="top">
    <TD nowrap><FONT face="Wingdings">&#111;</FONT>&nbsp;</TD>
    <TD>Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</TD>
</TR>
</TABLE>


<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>





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<P align="left" style="font-size: 10pt"><B>Item&nbsp;7.01 Regulation&nbsp;FD Disclosure.</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On April&nbsp;21, 2005, Ace Cash Express, Inc. issued a press release regarding its third quarter
fiscal 2005 guidance and the effect of its adjustment for lease and lease-related accounting.

<!-- link2 "Item&nbsp;9.01 Financial Statements and Exhibits." -->

<P align="left" style="font-size: 10pt"><B>Item&nbsp;9.01 Financial Statements and Exhibits.</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;Exhibits.

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<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Exhibit&nbsp;99.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Press release dated April&nbsp;21, 2005.</TD>
</TR>
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</TABLE>
</DIV>

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<P align="center" style="font-size: 10pt"><B>SIGNATURES</B>


<P align="left" style="font-size: 10pt">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused
this report to be signed on its behalf by the undersigned hereunto duly authorized.



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    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><B>ACE CASH EXPRESS, INC.</B><BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">Dated: April 21, 2005&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ WILLIAM S. MCCALMONT
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">William S. McCalmont&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Executive Vice President and<BR>
Chief Financial Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="center" style="font-size: 10pt">2</DIV>

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<P align="center" style="font-size: 10pt"><B>EXHIBIT INDEX</B>


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    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Exhibit No.</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Description</TD>
</TR>

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<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Press release dated April&nbsp;21, 2005.</TD>
</TR>
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</DIV>



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<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>d24540exv99w1.htm
<DESCRIPTION>PRESS RELEASE
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<P align="right" style="font-size: 10pt"><B>Exhibit&nbsp;99.1</B>



<P align="left" style="font-size: 10pt"><B>For Immediate Release</B>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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<TR valign="bottom">
    <TD width="45%">&nbsp;</TD>
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    <TD width="45%">&nbsp;</TD>
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<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B><u>Contacts:</u></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>William S. McCalmont, EVP &#038; CFO</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>Douglas Lindsay, VP of Finance</B></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>972/753-2314</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>972/753-2342</B></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">wmccalmont@acecashexpress.com
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">dlindsay@acecashexpress.com</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><B>ACE CASH EXPRESS EXPECTS THIRD QUARTER FY 2005 EPS OF $0.74-$0.75<BR>
PRIOR TO LEASE ACCOUNTING ADJUSTMENT</B>


<P align="left" style="font-size: 10pt">DALLAS, TX &#151; April&nbsp;21, 2005 &#151; ACE Cash Express, Inc. (Nasdaq: AACE) stated today that the
Company expects to report fiscal third quarter 2005 earnings of $0.74 to $0.75 per diluted share,
prior to a lease accounting charge of $0.04 per share, as explained below. This compares to the
Company&#146;s previous third quarter 2005 expectation of $0.68 to $0.74 per diluted share excluding the
lease accounting charge. Including the impact of the lease accounting charge the Company expects
fiscal third quarter earnings of $0.70 to $0.71 per diluted share. As a reminder, the Company is
scheduled to report earnings on Thursday, April&nbsp;28, 2005, and host a conference call at 5:00 p.m.
Eastern Time.



<P align="left" style="font-size: 10pt"><B>Lease Accounting Correction</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has performed a review of its accounting practices surrounding leases and
lease-related items in light of the views of the Office of the Chief Accountant of the Securities
and Exchange Commission expressed in a letter dated February&nbsp;7, 2005 to the American Institute of
Certified Public Accountants regarding the application of generally accepted accounting principles
to operating lease accounting matters.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Like many other publicly-traded retailers and restaurant chains that are correcting these
lease accounting practices, the Company will change the way it accounts for its leases. Following
consultations with its independent auditors, the Company will make a cumulative adjustment to
retained earnings of $3.8&nbsp;million related to periods prior to and including fiscal 2002. For
periods subsequent to the end of fiscal 2002, the Company will make a one-time non-cash after-tax
adjustment


<P align="center" style="font-size: 10pt">&nbsp;</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<P align="left" style="font-size: 10pt">of approximately $600,000 to its results in the third quarter of fiscal 2005 to reflect the
cumulative impact of a correction of its accounting practices related to leased stores. This
adjustment will result in a $0.04 reduction in diluted earnings per share to be recorded in the
third quarter of fiscal 2005.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consistent with industry practices, the Company historically recorded rent expense on a
straight-line basis over the initial non-cancelable term of a lease commencing upon store opening.
The Company has concluded that the calculation for straight-line rent should be based on the
reasonably assured lease term as defined in SFAS 98, &#147;Accounting for Leases&#148;, which in most cases
exceeds the initial non-cancelable lease term. In addition, the Company reassessed the depreciable
lives of leasehold improvements at all stores to be the shorter of their estimated useful life or
the reasonably assured lease term at the inception of the lease. Further, the Company, concluded
that landlord allowances which it has previously recorded as a reduction to related leasehold
improvements should be reflected as deferred rent and amortized over the reasonably assured lease
term as a reduction to rent expense rather than depreciation.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company evaluated the materiality of these corrections on its financial statements and
concluded that the incremental impact of these corrections is not material to any quarterly or
annual period, respectively. Prior years&#146; financial results will not be restated as these issues
were not material to previously reported financial results for any prior year. The adjustments
required to correct these practices will not affect historical or future net cash flows or the
timing of the payments under related leases.


<P align="left" style="font-size: 10pt"><B>About ACE Cash Express</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ACE Cash Express, Inc. is a leading retailer of financial services, including check cashing,
short-term consumer loans and bill payment services, and the largest owner, operator and franchisor
of check cashing stores in the United States. As of March&nbsp;31, 2005, ACE had a network of 1,331
stores in 37 states and the District of


<P align="center" style="font-size: 10pt">&nbsp;</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<P align="left" style="font-size: 10pt">Columbia, consisting of 1,118 company-owned stores and 213 franchised stores. ACE focuses on
serving unbanked and underbanked consumers, many of whom seek alternatives to traditional banking
relationships in order to gain convenient and immediate access to check cashing services and
short-term consumer loans. ACE&#146;s website is found at http://www.acecashexpress.com.


<P align="left" style="font-size: 10pt"><B>Forward-Looking Statements</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This release contains certain &#147;forward-looking statements&#148; within the meaning of Section&nbsp;27A
of the Securities Act of 1933, as amended, and Section&nbsp;21E of the Securities Exchange Act of 1934,
as amended. These statements are generally identified by the use of words such as &#147;expect,&#148;
&#147;anticipate,&#148; &#147;estimate,&#148; &#147;believe,&#148; &#147;intend,&#148; &#147;plan,&#148; &#147;target,&#148; &#147;goal,&#148; &#147;should,&#148; &#147;would,&#148;
and terms with similar meanings.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Although ACE believes that the current views and expectations reflected in these
forward-looking statements are reasonable, these views and expectations, and the related
statements, are inherently subject to risks, uncertainties, and other factors, many of which are
not under ACE&#146;s control and may not even be predictable. Any inaccuracy in the assumptions, as
well as those risks, uncertainties and other factors could cause the actual results to differ
materially from these in the forward-looking statements. These risks, uncertainties, and factors
include, but are not limited to, matters described in ACE&#146;s reports filed with the Securities and
Exchange Commission, such as:


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">&#149;&nbsp;&nbsp;</TD>
    <TD>ACE&#146;s relationships with Republic Bank &#038; Trust Company, with Travelers Express and its
affiliates and with its bank lenders;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">&#149;&nbsp;&nbsp;</TD>
    <TD>ACE&#146;s relationships with providers of services or products offered by ACE or property
used in its operations;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">&#149;&nbsp;&nbsp;</TD>
    <TD>federal and state governmental regulation of check cashing, short-term consumer lending
and related financial services businesses;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">&#149;&nbsp;&nbsp;</TD>
    <TD>any impact on the loans offered by Republic Bank &#038; Trust Company at ACE&#146;s stores in
Texas, Pennsylvania and Arkansas from the implementation of the</TD>
</TR>

</TABLE>

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<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">&nbsp;&nbsp;&nbsp;</TD>
    <TD>revised Guidelines for Payday Lending announced on March&nbsp;1, 2005 by the Federal Deposit
Insurance Corporation, which revised Guidelines provide guidance to banks that engage in
payday lending, and include a requirement that such banks develop procedures to ensure that
a payday loan is not provided to any customer with payday loans outstanding from any lender
for more than 3&nbsp;months in the previous 12&nbsp;months;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">&#149;&nbsp;&nbsp;</TD>
    <TD>any litigation regarding ACE&#146;s short-term consumer lending activities;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">&#149;&nbsp;&nbsp;</TD>
    <TD>theft and employee errors;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">&#149;&nbsp;&nbsp;</TD>
    <TD>the availability of adequate financing, suitable locations, acquisition opportunities
and experienced management employees to implement ACE&#146;s growth strategy;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">&#149;&nbsp;&nbsp;</TD>
    <TD>increases in interest rates, which would increase ACE&#146;s borrowing costs;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">&#149;&nbsp;&nbsp;</TD>
    <TD>the fragmentation of the check cashing industry and competition from various other
sources, such as banks, savings and loans, short-term consumer lenders, and other similar
financial services entities, as well as retail businesses that offer services offered by
ACE;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">&#149;&nbsp;&nbsp;</TD>
    <TD>the terms and performance of third-party services offered at ACE&#146;s stores; and</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">&#149;&nbsp;&nbsp;</TD>
    <TD>customer demand and response to services offered at ACE&#146;s stores</TD>
</TR>

</TABLE>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ACE expressly disclaims any obligation to update or revise any of these forward-looking
statements, whether because of future events, new information, a change in ACE&#146;s views or
expectations, or otherwise. ACE makes no prediction or statement about the performance of its
common stock.


<P align="center" style="font-size: 10pt">###




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</TEXT>
</DOCUMENT>
</SUBMISSION>
