UBPS Announces Transaction Update

  UBPS Announces Transaction Update

Business Wire

PHILADELPHIA -- December 27, 2012

Universal Business Payment Solutions Acquisition Corporation (“UBPS” or the
“Company”) (NASDAQ: Common Stock: "UBPS", Units: "UBPSU", Warrants: "UBPSW"),
a special purpose acquisition company, today announced that it filed two
current reports on Form 8-K with the U.S. Securities and Exchange Commission
disclosing additional information about the acquisitions it originally
announced on July 9, 2012, which were further disclosed in its Proxy Statement
on November 13, 2012 and subsequent filings. The Forms 8-K are available at

About UBPS

Universal Business Payment Solutions Acquisition Corporation is a blank check
company formed for the purpose of acquiring one or more operating businesses
in the payments and payroll processing industries as a platform for further
roll-up acquisition opportunities. The Company raised net proceeds of
approximately $72 million through its initial public offering in May 2011 led
by EarlyBirdCapital, Inc. Please visit www.ubpsac.com for more information.

Participants in the Business Combination

The Company and their respective directors and executive officers may be
deemed to be participants in the solicitation of proxies from the stockholders
of the Company in connection with the proposed business combination.
Information regarding the officers and directors of the Company is available
in the Company’s annual report on Form 10-K for the year ended December 31,
2011, which has been filed with the SEC. Additional information regarding the
interests of such potential participants will be included in the definitive
proxy statement/prospectus for the proposed business combination and the other
relevant documents filed with the SEC.

Note Regarding Financial Information

Certain financial information and data of EMS, JetPay, and AD Computer
contained in this press release is derived from unaudited financial statements
and data and may not conform to Regulation S-X. Accordingly, such information
and data may be adjusted and presented differently in the proxy materials to
be mailed to the Company’s security holders.

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of
the safe harbor provisions of the United States Private Securities Litigation
Reform Act of 1995. UBPS’s actual results may differ from its expectations,
estimates and projections and consequently, you should not rely on these
forward-looking statements as predictions of future events. Words such as
“expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,”
“plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,”
“continue,” and similar expressions are intended to identify such
forward-looking statements. These forward-looking statements include, without
limitation, UBPS’s expectations with respect to future performance and
anticipated financial impacts of the proposed transaction, the satisfaction of
the closing conditions to the proposed transaction, and the timing of the
completion of the proposed transaction.

These forward-looking statements involve significant risks and uncertainties
that could cause the actual results to differ materially from the expected
results. Most of these factors are outside UBPS’s control and are difficult to
predict. Factors that may cause such differences include, but are not limited
to, those described under the heading “Risk Factors” in UBPS’s final
prospectus, dated May 9, 2011. Other factors include the possibility that the
transactions contemplated by a potential transaction agreement do not close,
including due to the failure of certain closing conditions.

UBPS cautions that the foregoing list of factors is not exclusive. Additional
information concerning these and other risk factors is contained in UBPS’s
most recent filings with the Securities and Exchange Commission. All
subsequent written and oral forward-looking statements concerning UBPS, a
potential transaction agreement, the related transactions, or other matters
and attributable to UBPS or any person acting on its behalf, are expressly
qualified in their entirety by the cautionary statements above. UBPS cautions
readers not to place undue reliance upon any forward-looking statements, which
speak only as of the date made. UBPS does not undertake or accept any
obligation or undertaking to release publicly any updates or revisions to any
forward-looking statements to reflect any change in its expectations or any
change in events, conditions or circumstances on which any such statement is


Peter Davidson, Chief Administrative Officer
Media Inquiries
Eric Van der Vlugt, 215-564-1213, ext.12,
Investor Relations
The Equity Group Inc.
Adam Prior, Vice President
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