Texas Railroad Commission Authorizes UPDA Operators to Return 28 Wells on Sanders Lease to Production - Two 210 Barrel Tanks Immediately Filled to Capacity.

DALLAS -- On January 31, 2007, UPDA Operators, Inc. a subsidiary of Universal Property Development and Acquisition Corporation (OTCBB:UPDA) (FWB:UP1) (BCN:UP1) (GER:UP1) (MUN:UP1) (STU:UP1), was notified by the Texas Railroad Commission (www.rrc.state.tx.us) that it has been authorized to begin production of 28 oil and gas wells in Palo Pinto County, Texas. As a result, as much as 400 barrels of oil are ready for sale from these wells on the Sanders Lease owned by UPDA subsidiary, Canyon Creek Oil and Gas, Inc.

"According to the field personnel, one 210 barrel tank is 15 feet full of oil and another has at least 11 feet or more of oil," reports Chris McCauley, UPDA Vice President. "The exact amount will be determined when the oil gets picked up on Thursday but at 1.16 barrels per inch in the tank, that's more than 360 barrels of oil. As the workover continues on the remaining wells, it appears that the production from this field may be more than had been predicted."

With the success and promise of the blending and distribution business being developed by UPDA Texas Trading and the progress of UPDA Operators in bringing increasing numbers of wells online, UPDA now projects positive cash-flow from 2 of its 4 revenue sectors in the near term. In addition, Ambient Wells Services is maintaining its negotiation of third party service contracts and UPDA continues its efforts to secure technologies for the establishment of an alternative energy division.

"The plan appears to be progressing much as we had planned," continued McCauley. "The team that has now been assembled is functioning efficiently and effectively, executing the business plan just as designed by the management and board."

UPDA's continued expansion, development and progress will be reported together with all well production at www.universalpropertydevelopment.com.

About UPDA

Universal Property Development and Acquisition Corporation (OTCBB:UPDA) focuses on the acquisition and development of proven oil and natural gas reserves and other energy opportunities through the creation of joint ventures with under-funded owners of mineral leases and cutting-edge technologies.

Statements contained in this press release that are not based upon current or historical fact are forward-looking in nature. Such forward-looking statements reflect the current views of management with respect to future events and are subject to certain risks, uncertainties, and assumptions. Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, or described pursuant to similar expressions.