SOURCE: Premier Alliance Group, Inc.

Premier Alliance Group, Inc.

February 14, 2011 10:50 ET

Premier Alliance Group Reports a Cash Dividend on Its 7% Series B Convertible Preferred Stock

CHARLOTTE, NC--(Marketwire - February 14, 2011) - Premier Alliance Group, Inc. (OTCBB: PIMO), a professional services company focused on business and technology consulting, announced that pursuant to the terms of its 7% Series B Convertible Preferred Stock ("Preferred Stock"), it paid a 7% annual dividend in cash, as determined by the board of directors, to holders of its Preferred Stock as of December 31, 2010.

Mark Elliott, Premier's president, stated, "2010 was a year of growth for Premier and we are pleased to be able to pay the dividend to our preferred shareholders. We believe that 2011 will be an even better year for the Company as we build on the structure that we have in place."

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.
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