Barrie, ON (November 10, 2009) Student Transportation of America Ltd. (“STA”) (TSX:STB) announced today that, in connection with STA’s recently closed public offering (the “Offering“) of $45,000,000 aggregate principal amount of 7.5% convertible subordinated unsecured debentures, the underwriters have exercised their over-allotment option in full to purchase an additional $6,750,000 aggregate principal amount of 7.5% convertible subordinated unsecured debentures due October 31, 2014 at a price of $1,000 per debenture. The offering was underwritten by a syndicate of underwriters led by BMO Nesbitt Burns Inc. and includes CIBC World Markets Inc., Scotia Capital Inc., Cormark Securities Inc., Wellington West Capital Markets Inc., National Bank Financial Inc. and Raymond James Ltd.

About Student Transportation of America Ltd.

Founded in 1997, Student Transportation of America (STA) is North America’s third-largest and fastest-growing provider of school bus transportation services, operating more than 6,300 vehicles. STA’s family of local companies delivers safe, reliable, and cost-effective transportation solutions to school districts throughout the U.S. and Canada. Services are delivered by drivers, dispatchers, maintenance technicians, terminal managers and others who are caring members of their local communities. For more information, please visit www.rideSTA.com.

The securities offered have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons except, and in compliance with applicable U.S. state securities laws, in certain transactions exempt from the registration requirements of the U.S. Securities Act.

For more information contact:

Student Transportation of America Ltd.

Denis J. Gallagher

Chairman and Chief Executive Officer

Phone: (732) 280-4200

Fax: (732) 280-4213

Patrick J. Walker

Executive Vice President and Chief Financial Officer

Phone: (732) 280-4200

Fax: (732) 280-4213

Keith P. Engelbert

Director of Investor Relations

Phone: (732) 280-4200

Fax: (732) 280-4213

Email: [email protected]

Website: www.rideSTA.com