United PanAm Financial Corp. Sets Date for Special Meeting of Shareholders

United Panam Financial Corp. (OTC: UPFC) ("UPFC”) today announced that its board of directors has set February 24, 2011 as the date for the special meeting of shareholders to be held to consider and vote upon the approval of the previously disclosed merger in which UPFC is to be acquired by an entity controlled by Guillermo Bron, Chairman of the Board of Directors of UPFC, and by affiliates of Pine Brook Road Partners, LLC ("Pine Brook”), a private equity firm. UPFC shareholders of record as of January 20, 2011, will be entitled to vote at the special meeting and will receive a notice of meeting, proxy statement and other relevant documents concerning the merger as soon as practicable.

About United PanAm Financial Corp.

UPFC is a specialty finance company engaged in automobile finance, which includes the purchasing and servicing of automobile installment sales contracts originated by independent and franchised dealers of used automobiles. UPFC conducts its automobile finance business through its wholly-owned subsidiary, United Auto Credit Corporation.

Additional Information about the Transaction and Where to Find It

This press release shall not constitute an offer of any securities for sale. The transaction will be submitted to UPFC shareholders for their consideration via the mailing of a proxy statement and other relevant documents concerning the merger. Investors and shareholders of UPFC are urged to read the proxy statement and other relevant documents, as well as any amendments or supplements to the documents because they will contain important information about Mr. Bron, Pine Brook, their acquiring entity, UPFC and the merger.

Participants in Solicitations

Mr. Bron, Pine Brook, their acquiring entity, UPFC and their respective directors, executive officers, partners and other members of their management and employees and certain of their affiliates may be deemed to be participants in the solicitation of proxies from shareholders of UPFC in connection with the merger. Information regarding the interests of such potential participants will be included in the proxy statement and the other relevant documents mailed to shareholders of UPFC.

Forward-Looking Statements

This release may contain certain forward-looking statements which involve known and unknown risks, delays, uncertainties and other factors not under UPFC’s control. The factors that could cause actual results, performance or achievements to differ from the forward-looking statements include the risk that the special meeting may not be held and the acquisition of UPFC may not be consummated for reasons including that the conditions precedent to the completion of the merger may not be satisfied, the possibility that the expected benefits from the proposed merger will not be realized (or will not be realized within the anticipated time period), the possibility of disruption from the merger making it more difficult to maintain business and operational relationships and any actions taken by either of the companies, including but not limited to, restructuring or strategic initiatives (including capital investments or asset acquisitions or dispositions).

In light of these risks, uncertainties, assumptions and factors, the forward-looking events discussed in this press release may not occur. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date stated, or if no date is stated, as of the date of this press release. UPFC is not under any obligation and does not intend to make publicly available any update or other revisions to any of the forward-looking statements contained in this press release to reflect circumstances existing after the date of this press release or to reflect the occurrence of future events even if experience or future events make it clear that any expected results expressed or implied by those forward-looking statements will not be realized.