Changing a Hard Coded URL Creates and Error

When I try to change a hard coded URL using the Network Wide Text Change option I get the following error.

Warning: preg_replace() [function.preg-replace]: Unknown modifier 'p' in /home/my-site/public_html/wp-content/plugins/ultimate-branding/ultimate-branding-files/modules/site-wide-text-change.php on line 378

This is without the http:// being added to the URL. I get a similar error when I add the http://

Any suggestions for a work around to this error?