Premier Alliance Professional Services Group Announces Risk Focused Contract With Two Nationally Recognized Financial Institutions

CHARLOTTE, NC--(Marketwire - Dec 5, 2012) - Premier Alliance Group, Inc., (OTCQB: PIMO) ("Premier Alliance") a strategic advisory, services, and solutions firm focused on providing 360° Intelligence Delivery through our Knowledge Based Expertise ("KBE"), today announced Professional Services Group contracts with two nationally recognized financial institutions focused on Governance, Risk & Compliance and Organizational Change Management. The projects commenced in early November 2012 and will be completed around the end of the year. This mandate is a continuation of earlier projects which Premier completed previously in 2012. Total revenue for both mandates will total approximately $250,000.

Premier Alliance's team of knowledge based experts (KBEs) assist organizations by drilling down and identifying key risk areas, providing guidance in navigating regulatory changes and challenges, and providing efficiencies to internal processes. Specific to these contracts the Premier Alliance team has three project objectives:

1.) Perform enhanced and holistic analysis of operational risk data;
2.) Review historically impactful operational risk policies since January 2011 and assess/develop tools and processes for operational risk policy communication;
3.) Provide Project Management expertise to allow the financial institution to meet regulatory requirements.

Mark Elliott, Chief Executive Officer of Premier Alliance, stated, "Initiatives related to risk and regulation across all industries has increased due, in large part to the political visibility available now that the election has concluded. As a result, current and prospective clients are beginning to evaluate risk and compliance initiatives. We have the foundation in place with talented experienced professionals to provide our services in an efficient and seamless manner for our clients. We look forward to leveraging our current client base as well as establishing new client relationships going forward."

Premier Alliance has also appointed Mark Ladnier as Senior Vice President in the Professional Services Division, as we continue to build upon our internal expertise. Mark brings to the team an extensive background having held executive positions amongst others as Senior Vice President of Basel Program at Wells Fargo and Wachovia. Mr. Ladnier will play a key role in further developing Premier Alliance's go-to-market efforts with our risk and compliance services.

About Premier Alliance Group, Inc. 
Premier Alliance Group, Inc. (OTCQB: PIMO) provides Knowledge Based Expertise ("KBE") through its strategic advisory, services, and solutions delivery capabilities. The firm provides 360° Intelligence Delivery, a holistic approach to meet client objectives, through our Professional Services and Solutions Groups. We currently have two major delivery verticals, Risk/Compliance and Energy, driven by increased energy mandates as well as regulatory requirements across several industries. Our Risk/Compliance capabilities encompass Governance, Risk & Compliance (GRC) and Business Performance & Technology as we assist clients with Risk Management, Compliance, Mergers & Acquisitions, Organizational Effectiveness, Project Management, and Information Management. Our Energy capabilities position us as a leading provider of energy efficiency and sustainable facilities solutions. This includes the design, engineering and installment of disparate solutions and technologies that enable clients to reduce their energy costs and carbon footprint. Premier Alliance is headquartered in Charlotte, NC. For more information, 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.