UBPS Announces Transaction Update

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 www.sec.gov.

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.