Premier Alliance Group Announces Registration Statement Declared Effective

CHARLOTTE, NC--(Marketwire - Feb 9, 2012) - Premier Alliance Group, Inc. (OTCBB: PIMO), a professional services company focused on business and technology advisory and consulting services, announced that the U.S. Securities and Exchange Commission has declared effective on February 8, 2012 the company's Form S-4 Registration Statement relating to the December 1, 2011, merger agreement with Greenhouse Holdings, INC ("Greenhouse").

Mark Elliott, CEO of Premier, said, "We look forward to the support of stockholders for this exciting combination. The combined company will have a compelling platform for long-term growth and continues to grow its knowledge based expertise, will be well positioned to generate value for all shareholders."

The new combined company, Premier Alliance, will be headquartered in Charlotte, North Carolina, and offices in Charlotte, Winston Salem, Kansas City, Denver, San Diego, Orange County, and Los Angeles provides coast to coast coverage. The transaction is subject to Premier Alliance board of director approval and other customary closing conditions. The transaction is expected to close in the first quarter of 2012.

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.

About GreenHouse Holdings, Inc.

GreenHouse Holdings is a leading provider of energy efficiency and sustainable facilities services and solutions. The company designs, engineers and installs disparate products and technologies that enable its clients to reduce their energy costs and carbon footprint. Its target markets for energy efficiency solutions include government and military, as well as commercial and industrial markets. For more information, please visit: www.greenhouseintl.com or the GreenHouse YouTube channel at http://www.youtube.com/greenhouseintl or follow GreenHouse on Twitter @greenhouseintl.

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.