Capital Alliance Group Inc.
TSX VENTURE : CPT

Capital Alliance Group Inc.

November 16, 2006 15:26 ET

Capital Alliance Appointed as Corporate Advisor for Sun Media Investment Holdings of Shanghai

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 16, 2006) -

NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE US

Capital Alliance Group Inc. (TSX VENTURE:CPT) reports that it has been appointed by Sun Media Investment Holdings Company Limited ("SMIH") of Shanghai, China as Corporate Advisor to provide corporate advisory services for matters relating to certain public company affairs and expansion initiatives.

The term of the contract is for a period of one year and Capital Alliance Group will be paid 500,000 restricted R-144 shares of Sun New Media Inc (OTCBB:SNMD) by SMIH at a deemed value of US$0.68 per share. SMIH is the parent company of Sun New Media Inc. and Sun New Media Inc. will not incur any costs or expenses as a result of this transaction. These shares will be restricted for trading and subject to a pooling arrangement.

"We believe that Sun Media is well positioned to capitalize on China's enormous internet media and distribution market," commented Toby Chu, President & CEO of Capital Alliance Group Inc. "One of our primary objectives and priorities as outlined in this contract is to provide business advisory services in the areas of media relations and business expansion activities."

Capital Alliance Group Inc.

Toby Chu, President & C.E.O.

WARNING: This news release contains forward-looking information. The reader is cautioned that assumptions used in preparing such information, although considered accurate at the time of preparation, may prove incorrect. The actual results achieved may vary materially from the information provided herein. Consequently, there is no representation by the company that actual results achieved will be the same as those forecast.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction.

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