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Premier Alliance Completes Preferred Financing Totaling $11,687,051 of Net Proceeds

March 6, 2013 - CHARLOTTE, NC

Premier Alliance Group, Inc., (OTCQB: PIMO) a strategic advisory, services, and solutions firm providing 360 degrees Intelligence Delivery, announced today that it has completed and fully funded the Series D, 8% Convertible Preferred Stock placement that began in December of 2012. The Company issued an aggregate of 13,126 shares of the Company's Series D, 8% Convertible Preferred Stock and warrants to purchase up to 4,375,392 shares of its common stock at an exercise price of $1.125 per share. The Company realized total net proceeds of $11,687,051 in the transaction. The Company used a portion of the proceeds to complete its acquisition of Ecological, LLC, and will use the remaining proceeds to continue to pursue its ongoing M&A initiatives while supporting ongoing operations and deliverables to its rapidly expanding portfolio of corporate customers. Maxim Group LLC acted as the placement agent in the transaction.

"We are extremely pleased to announce the closing of our Series D financing round," commented Mark Elliott, Premier Alliance's CEO. Mr. Elliott continued, "Now that the financing is behind us, we can fully integrate and leverage the potential of the Ecological, LLC acquisition and continue to aggressively execute our strategy to become a leading corporate advisory, strategic services and solutions firm catering to a rapidly expanding global client base dedicated to enhancing industrial and energy efficiency."

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

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.

Investor Contacts:
Merriman Capital, Inc.
Douglas Rogers

Premier Alliance Group
Mark Elliott


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