The article provided by Will references most of the possible causes for the generic MDAC error.
There is no need to install MDAC.
Also, check my other article regarding the installation of SCSP with SQL Express 2008 below, it applies for 2012 as well:
https://www-secure.symantec.com/connect/articles/how-install-scsp-microsoft-sql-server-2008-r2-express-edition
Let us know.