Premier Alliance Announces New Service Contracts

CHARLOTTE, NC--(Marketwire - Sep 19, 2012) -   Premier Alliance Group, Inc. (OTCQB: PIMO), a strategic advisory, services, and solutions firm focused on providing 360° Intelligence Delivery through our Knowledge Based Expertise ("KBE"), today announced new contracts focused on Governance, Risk & Compliance and Finance & Accounting services. The values of the three contracts together initially total approximately $400,000.

Mark Elliott, CEO of Premier Alliance, commented, "We are encouraged by the progress with new clients on the services side of our business. The shift in regulation within the financial industry with initiatives such as Basel III and Dodd/Frank has caused acceleration in the size of the marketplace. Furthermore, these movements have presented us with opportunities to broaden our expertise and build new client relations. Our ability to cultivate these relationships will allow us to cross sell our full suite of capabilities and add value for our clients."

Governance, Risk & Compliance
Premier Alliance has built a team of professionals with expertise and knowledge in helping organizations assess and manage risk, the regulatory environment, and internal processes. The integrated services offered are aimed at protecting each client and ensuring that the systems and processes in place improve the long-term value creation of the client.

The Company has been awarded a multi-year contract to provide internal controls reporting for a leading provider of award winning web based insurance software systems for retail agents. Within this contract, Premier Alliance will evaluate the organization's internal controls specifically related to security, change management, information technology operations and privacy.

Additionally, Premier Alliance has been engaged to assist in the Basel III technology regulation initiative with a top ten bank. Basel III is a global regulatory standard on bank capital adequacy, stress testing, and market liquidity risk. Premier Alliance has been asked to evaluate the client's business units and leverage new protocols required with the new regulation.

Finance & Accounting
Premier Alliance assists clients of all sizes with Finance and Accounting support including: audit and IPO preparation, M&A support, financial planning and analysis, technical accounting research, and financial and SEC reporting.

Premier Alliance has been selected to provide back office accounting services for Quantum Catch Corp. ("QCC"). QCC performs research and development for biomedical devices, including ophthalmic instruments. Premier Alliance has been engaged to provide services in a cloud-based environment preparing monthly financial statements, processing payroll, preparing budget projections and creating efficient workflow.

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. Our focus is in the following industries today; Energy, Financial Services, Life Science and Biotechnology, Government, and Technology. We currently have two major delivery verticals of Finance and Energy capabilities driven by increased financial regulations and energy mandates crossing many industries. Our financial service deliveries encompass Governance, Risk & Compliance (GRC), Business Performance & Technology, and Finance & Accounting 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, engineer and install 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.