Premier Alliance Group, Inc. Announces New Governance, Risk and Compliance Based Contracts With a Top Financial Institution

CHARLOTTE, NC--(Marketwire - January 11, 2011) - Premier Alliance Group, Inc. (OTCBB: PIMO), a professional services company focused on business and technology consulting, announced that it has been engaged by one of the nation's top financial institutions to work on Governance, Risk and Compliance (GRC) based initiatives in 2011. These contracts will encompass multiple projects focused on risk and BASEL compliance and are projected to add over $5.5 million of revenue to Premier's balance sheet over the next 12 months. Premier has extensive experience helping financial institutions manage operational and financial risks falling under new government and financial regulations and continues to expand in this area. 

Mark Elliott, President of Premier, said, "We are very pleased that our GRC practice is growing rapidly and providing real value. Premier's knowledge-based expertise helps our clients to effectively deal with the impact of continued regulatory change on their operations. After two years of establishing our leading position in the GRC sector, more and more companies are relying on Premier to assist them to increase efficiencies, reduce costs and mitigate risk in a rapidly changing economic environment."

About Premier Alliance Group, Inc.
Premier Alliance Group, Inc. provides business consulting services and human capital solutions to customers with a focus on core areas of business processes used throughout the corporate world including project management, business analysis, business consulting and strategic consulting. Typical initiatives in which Premier provides services include compliance and regulatory, merger and acquisition, and business process reengineering efforts. Clients are serviced with Knowledge-Based expertise from Premier's Business Performance & Technology, Governance, Risk & Compliance (GRC), and Finance and Accounting practice areas.

For more information go to: 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.
Contact:

Contact Information:

Contact:
Kathy Aviles
800-521-8077
investor@premieralliance.com