Premier Alliance Group, Inc. Announces New Contracts and Client Wins

CHARLOTTE, NC--(Marketwire - Feb 22, 2012) - Premier Alliance Group, Inc. (OTCBB: PIMO), a professional services company focused on business and technology advisory and consulting services, announced that it has secured several new contracts with new clients.

Initially, the value of these contracts is approximately $250,000, and the company expects additional follow on work over the coming year. These recent wins include:

For a large real estate servicing firm, Premier Alliance has been selected to perform an SSAE 16 SOC 1 report regarding the company's operations and processing of client transactions. Additionally, Premier Alliance will be providing a security risk assessment of the client's network infrastructure. Demonstrating adequate controls and safeguards to their clients is a top priority of management, and Premier has knowledge based experience in performing SSAE 16's and security assessments along with relevant real estate industry experience.

Additionally, Premier Alliance has been selected by the Audit Committee of a large Southern California bank to provide information technology internal audit assistance. This growing bank had requirements to ensure their information technology controls are in compliance with numerous banking regulations and are optimized for their business. Premier Alliance's extensive banking experience and knowledge of current regulation, coupled with information technology audit expertise made Premier a great fit for this strategic role with the bank.

Premier Alliance has also been engaged by a large national financial services company to support an organization's Enterprise-wide initiative dealing with current regulatory requirements. The project will involve the development and implementation of a methodology that will strengthen governance and reporting and facilitate decision-making and regulatory compliance. Premier was selected for this work due to the Company's capabilities in providing knowledge based expertise that could compliment and supplement the expertise within the bank.

Mark Elliott, CEO of Premier Alliance, said, "Clearly, our strong expertise in the real estate and financial services sectors has led to these significant client wins. We are very pleased by our continued success as we work with customers to address key initiatives within the Governance, Risk and Compliance arena. Our team continues to attract great Knowledge Based Expertise which allows us to effectively and efficiently add value to our customers and be a great solution for them. We look forward to announcing additional client wins as we continue to execute on our growth strategy."

About Premier Alliance Group, Inc.

Premier Alliance Group, Inc. (OTCBB: PIMO) is a leading provider of business and technology advisory and consulting services. Practice areas of expertise encompass Governance, Risk & Compliance (GRC), Business Performance & Technology, and Finance & Accounting as we assist clients with Risk Management, Compliance, Mergers & Acquisitions, Organizational Effectiveness, Project/Program Management, Information Management, Architecture and Software Development. Premier Alliance Group is headquartered in Charlotte, NC. For more information, please visit www.premieralliance.com.

Safe Harbor Statement
Certain information contained in this press release may be forward-looking. Actual results might differ materially from any forward-looking statements contained in this press release. Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the actual results of Premier Alliance Group to be materially different from any future results expressed or implied by such forward-looking statements. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms "believes," "belief," "expects," "intends," "anticipates" or "plans" to be uncertain and forward-looking.