Capital Alliance Group Inc.

Capital Alliance Group Inc.

October 16, 2006 14:13 ET

Capital Alliance to Acquire a U.S Based Reporting Company

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


Capital Alliance Group Inc (TSX VENTURE:CPT) announced today that the company plans to acquire, Black Gardenia Inc., a U.S based reporting company.

Incorporated on Feb 9th, 2000 in Nevada, Black Gardenia Inc. has 5 million common shares issued and outstanding. Capital Alliance Group (CAG) has reached an agreement with Black Gardenia to purchase 15 million common shares of the company at US$0.01 per share, which will give CAG 75% ownership of Black Gardenia. Subsequent to the acquisition, Black Gardenia will become a subsidiary of CAG, and CAG plans to vend-in a new business called into Black Gardenia accompanied by a company name change and a new trading symbol designation.

"The acquisition of Black Gardenia Inc. is another expansion strategy deployed by the company to enter China's enormous Internet job search market," stated Toby Chu, president and CEO of Capital Alliance Group Inc., "We plan to utilize Black Gardenia as our U.S public vehicle to independently fund the development of and the potential acquisitions of other internet job search companies in China."

The acquisition of Black Gardenia by Capital Alliance will be subject to TSX Venture Exchange acceptance of the required filing submission.

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.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

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