Columbus Acquisition Corp. Announces Liquidation and Dissolution

Columbus Acquisition Corp. ("Columbus") (NYSE Amex: BUS, BUS-U, BUS-WT) announced today its Board of Directors has approved a plan of liquidation for Columbus. As of the close of business on June 2, 2009, Columbus�s share transfer books will close and the NYSE Amex will suspend trading.

Because Columbus did not consummate a business combination within the time frame required by its certificate of incorporation and the terms of its initial public offering, Columbus is required to liquidate and dissolve. Columbus will promptly begin the process of liquidating and dissolving itself in accordance with its certificate of incorporation and applicable Delaware law.

Columbus expects to liquidate the amounts held in its trust account, which consist of proceeds from the Columbus�s initial public offering, together with the deferred portion of the underwriter�s discount and commission and interest (net of applicable taxes). Payable upon presentation, liquidating distributions will be made to holders of shares of the Columbus's common stock (excluding shares issued prior to the Columbus's initial public offering). Stockholders whose stock is held in �street name� through a broker will automatically receive payment through the Depository Trust Company. The liquidating distribution is expected to be approximately $7.98 per share. No payments will be made with respect to any of Columbus�s outstanding warrants or shares of common stock that were acquired prior to the Columbus's initial public offering.

Columbus will file a Certificate and Notice of Termination of Registration on Form 15 with the Securities and Exchange Commission for the purpose of deregistering its securities under the Securities and Exchange Act of 1934, as amended. As a result, Columbus will no longer be a public reporting company and its securities will cease trading on the NYSE Amex.

Forward Looking Statements

This press release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. Forward looking statements are statements that are not historical facts. Such forward-looking statements, based upon the current beliefs and expectations of Columbus's management, are subject to risks and uncertainties, which could cause actual results to differ from the forward looking statements.

About Columbus Acquisition Corp.

Columbus Acquisition Corp. is a blank check company organized under the laws of the State of Delaware on August 1, 2006. Columbus was formed to acquire, through a merger, capital stock exchange, asset or stock acquisition, exchangeable share transaction or other similar business combination, one or more operating businesses that it believes has significant growth potential. Columbus' IPO was declared effective May 18, 2007 and was consummated on May 21, 2007, resulting in net proceeds of approximately $109.8 million through the sale of 14.375 million units at $8.00 per unit. Each unit was comprised of one share of Columbus common stock and one warrant with an exercise price of $6.00. As of March 31, 2009, Columbus held $114.7 million in a trust account maintained by an independent trustee. Additional information is available at www.columbusacquisition.com.

Columbus Acquisition Corp. (AMEX:BUS)
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