Alliance Financing Group Inc.
TSX VENTURE : AFG

Alliance Financing Group Inc.

October 30, 2007 11:29 ET

Alliance Financing Group Announces New Director and Chairman

TORONTO, ONTARIO--(Marketwire - Oct. 30, 2007) - Alliance Financing Group Inc. (TSX VENTURE:AFG) (the "Corporation") announces that Mr. Glenn Bowman was elected to the board of directors at its recent Annual and Special Meeting, and was subsequently elected to serve as Chairman of the board. Previous to this appointment, Mr. Bowman has served as an active member of Alliance's Board of Advisors since 2003. Mr. Bowman is a partner with Capital Canada Limited since 2003. Formerly he was the President and Director of investment bank Houlihan Lokey Howard & Zukin Canada, the Toronto office of Houlihan Lokey from 1996 to 2003. At Houlihan Lokey, he was responsible for managing the Canadian operations including new business and staff development.

Mr. Bowman began his career at Coopers & Lybrand where he specialized in the firm's business valuation practice. He is a Fellow of the Institute of Chartered Accountants of Ontario, a Chartered Business Valuator, a Certified Fraud Examiner and a Senior Member of the American Society of Appraisers. Mr. Bowman was a member of the Accounting Standards Board of the Canadian Institute of Chartered Accountants which has the authority of setting new financial accounting and reporting standards. Mr. Bowman is a graduate of the University of Toronto.

The Corporation also announces that Mr. Benjamin Swirsky retired from his positions as director and Chairman of the board, at the end of his most recent term. Mr. Swirsky served the company in these capacities for the past seven years, and the Corporation, its directors and its management are very grateful for Mr. Swirsky's guidance and mentorship during this time.

About Alliance Financing Group Inc.

Alliance Financing is a diversified commercial finance institution that specializes in providing branded or white labelled asset based financing solutions, to the SMB (Small to Mid-sized Business) marketplace and to public sector organizations. Alliance Financing works within a multi-underwriter business model, providing a comprehensive suite of financing options available from selected underwriting partners, which include banks, lessors, and other financial institutions. Its financing solutions are delivered through both traditional bricks and mortar channels and various Internet channels. Alliance Financing maintains a "high-tech, human touch" philosophy; utilizing a combination of proprietary technology - such as its private labelled online financing tools, selected ASP technologies, and a dedicated staff of finance professionals to deliver its products and solutions. For more information about Alliance Financing Group Inc. please visit www.alliancefinancing.com.

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