Exhibit 99.1

Liberty Tax Service Reports Fiscal 2012 Full Year Results and the Initiation of

Trading on the OTC Bulletin Board

JTH Holding, Inc. (OTCBB:LTAXA)( the “Company”), the parent company of Liberty Tax Service, today reported net income for the fiscal year ended April 30, 2012 of $17.4 million, or $1.23 per diluted share.   During its fourth quarter, the Company determined that it would postpone its planned initial public offering (IPO), and for this reason incurred an after tax charge of approximately $0.8 million associated with the costs of that offering.  Adjusting for that one-time charge, adjusted (non-GAAP) income for fiscal 2012 was $18.3 million, an increase of 16% compared to net income in the prior year.  Adjusted earnings per share increased 21% to $1.29 per diluted share due to both the increased earnings and a decline in weighted average shares outstanding.  Revenues grew 14% to $109.1 million in fiscal 2012 compared to the prior year.

During the recent tax season the Company operated in 4,183 office locations in the United States and Canada, compared to 3,845 in the prior year.   In both years, more than 98% of our office locations were operated by franchisees of the Company.  Total returns filed by the company increased to approximately 2.2 million from approximately 2.0 million in the prior fiscal year, an increase of 7%.  The IRS recently reported that total tax returns filed grew 2.1% during this tax season compared to 2011 tax season; however tax returns claiming a refund grew by only 0.9% during the 2012 tax season.

“Fiscal 2012 was another important year in Liberty’s growth strategy to become the leader in the tax preparation industry,”  noted Founder and CEO John Hewitt.  “In a tough economic climate that has impacted small businesses around the country, and resulted in fewer businesses being operated through franchisees, Liberty Tax Service continues to grow and expand.  Issues at the IRS during the early portion of the season and the expiration of the Make Work Pay Tax Credit made customer service a challenge,” noted Mr. Hewitt, “however our franchisees continue to provide the best service in the industry.”

New Credit Facility

During the fourth quarter of Fiscal 2012, the company replaced its credit facility that was due to mature in March 2013 with a new five year credit facility through a syndicate of seven banks.   The new credit facility totals $130 million and is comprised of a $25 million term loan and a $105 million revolving line of credit.   “ The increase in the size of the facility and the fact that a majority of the existing banks chose to continue in our facility is another demonstration of the confidence our partners have in our business model, and our ability to grow and expand our brand,” noted Mark Baumgartner, CFO.

Initiation of Trading on the Over the Counter Bulletin Board  (OTCBB)

Although the Company recently determined that it would postpone its IPO, it also concluded that given the size of the Company’s stockholder base, it would be appropriate for the Company to make itself subject to the reporting and other requirements applicable to public companies, and to seek to facilitate stockholders liquidity in their investment.  Accordingly, the Company’s registration statement under the Securities Exchange Act of 1934 has been declared effective as of June 13, 2012, and the Company expects its shares of Class A Common Stock to become available for trading on the OTC Bulletin Board on June 14, 2012.  While traded on that system, the Company’s Class A Common Stock will be

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represented by the symbol “LTAXA.”  The Company has filed an application for listing its Class A Common Stock on NASDAQ, and that application is pending.

“We believe that the tax preparation marketplace will change in response to increased regulation and oversight and have been positioning Liberty to benefit from these changes,” noted Mr. Hewitt. “Becoming a public company is another step in our process and provides us additional flexibility to finance potential growth opportunities that may present themselves.” Mr. Hewitt noted.

Conference Call

At 8:30 a.m. Eastern time on June 14, 2012, the Company will host a conference call for analysts, institutional investors and shareholders.  To access the call, please dial the number below approximately 5 to 10 minutes prior to the scheduled starting time:

The call will also be webcast in a listen-only format.  The link to the webcast can be accessed on the Company’s investor relations website at www.libertytax.com

Webcast replay will be available starting at approximately 12:00 p.m. Eastern time today.

Forward Looking Statements

In addition to historical information, this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including implied and express statements regarding the Company’s anticipated growth and expansion of its business.  These forward-looking statements, as well as the Company’s guidance, are based upon the Company’s current expectations and there can be no assurance that such expectations will prove to be correct. Because forward-looking statements involve risks and uncertainties and speak only as of the date on which they are made, the Company’s actual results could differ materially from these statements. These risks and uncertainties relate to, among other things, uncertainties regarding the Company’s ability to attract and retain clients; meet its prepared returns targets; competitive factors; the Company’s effective income tax rate; litigation defense expenses and costs of judgments or settlements; and changes in market, economic, political or regulatory conditions. Information concerning these risks and uncertainties is contained in the Company’s recently filed registration statement on Form 10, and will in the future be contained in Item 1A of the Company’s annual reports on Form 10-K and in other filings by the Company with the Securities and Exchange Commission. The Company does not undertake any duty to update any forward-looking statements, whether as a result of new information, future events, or otherwise.

About Liberty Tax Service

Liberty Tax Service is the fastest-growing retail tax preparation company in the industry’s history. Founded in 1997 by CEO John T. Hewitt, a pioneer in the tax industry, Liberty Tax Service has prepared over 10 million individual income tax returns. With 43 years of tax industry experience, Hewitt stands as the most experienced CEO in the tax preparation business, having also founded Jackson Hewitt Tax

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Service. Liberty Tax Service is the only tax franchise on the recently released Forbes “Top 20 Franchises for the Buck.”

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JTH Holding, Inc.

Condensed Consolidated Balance Sheets

Unaudited, amounts in thousands

JTH Holding, Inc.

Condensed Consolidated Income Statement

Unaudited, amounts in thousands, except per share and share data

JTH Holding, Inc.

Condensed Consolidated Statements of Cash Flows

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JTH Holding, Inc.

Operational Data

Unaudited, amounts in thousands, except offices and net average fee

(1) We measure our number of offices per fiscal year based on franchised and company-owned offices open at any point during the tax season.

(2) Our systemwide revenue represents the total tax preparation revenue generated by our franchised and company-owned offices.  It does not represent our revenue, but because our franchise royalties are derived from the operations of our franchisees, and because we maintain an infrastructure to support systemwide operations, we consider growth in systemwide revenue to be an important measurement.

(3) The net average fee per tax return prepared reflect amounts for our franchised and company-owned offices.

JTH Holding, Inc.

Non - GAAP Reconciliation

Unaudited, amounts in thousands, except per share and share data

We report our financial results in accordance with generally accepted accounting principles (GAAP).  However, we believe certain non-GAAP performance measures and ratios used in managing the business may provide additional meaninful comparisions between current year results and prior periods.  Reconciliations to GAAP financial measures are provided below.  These non-GAAP financial measures should be viewed in addition to, not as an alternative for, our reported GAAP results.