Premier Alliance (OTCBB: PIMO) Awarded Largest Contract of Its Kind for California Steel Industries

Chicago, IL 3/8/12 (StreetBeat) -- Premier Alliance Group, Inc (OTC.BB: PIMO), a professional services company focused on business and technology advisory and consulting services and solutions, today announced that its recent acquisition and Energy Division, Greenhouse Holdings, has been engaged to implement Southern California Edison's (SCE) Automated Demand Response (Auto-DR) program for California Steel Industries, Inc. (CSI). Premier will implement Auto-DR and automation technologies inside CSI's 450-acre Fontana, CA facility. The project will be one of the largest energy management systems of its kind in the country.

"This strategic win clearly positions Premier as an expert in the Auto-DR space and is a testament to the professionalism and expertise of the Energy Division's consultants and engineers," said Mark Elliott, CEO of Premier Alliance. "A project of this scale truly exemplifies the value that automation and energy demand management can bring to both the provider, in this case Southern California Edison, as well as the utility customer."

Premiers' Greenhouse division is a leading provider of energy efficiency services and solutions and sustainable infrastructure products. The company is a qualified service provider of SCE's Auto-DR program, providing site assessment and audits, feasibility studies, project development, engineering, and installation of enabling technologies including complete processing of all utility documents. CSI will be provided a comprehensive, fully automated energy management and control system complete with a customized software platform that will interface with specific process equipment and all of the HVAC and lighting in the facility. Once completed CSI will be able to reliably load shed a significant amount of electricity.

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Premier Alliance (OTC:PIMO) Raises $5M from PIPE

Premier Alliance Group (OTC:PIMO) today announced that it has closed a private placement of its securities resulting in gross proceeds to the company of $5 million. The securities were sold to two accredited investors. Maxim Group LLC, a FINRA member broker dealer, acted as placement agent. The net proceeds will be used for working capital and general corporate purposes. A lightly traded stock, shares of Premier Alliance Group last sold for $0.70 per share on March 1, 2011. The company has a market cap of $5.6 million and a 52-week range between $0.52 and $1.02 per share.

Mark Elliott, President of Premier Alliance Group, said, "We are pleased to have raised $5 million dollars as it allows us to continue to finance our growth and take advantage of opportunities in the market at a more accelerated pace. We appreciate the support of the investors."

Under the terms of a Securities Purchase and Registration Rights Agreement, Premier sold an aggregate of 2,380,952 shares of its newly designated 7% $2.10 Series C Preferred Stock and 7,142,856 warrants to purchase the Company's common stock exercisable during the five-year period commencing on the date of issuance at $0.77 per share. The Preferred Stock is convertible into 7,142,856 shares of common stock at an initial purchase price of $0.70 share, subject to adjustment. Premier has agreed to file a registration statement covering the resale of the shares of common stock issuable upon conversion of the Preferred Stock, including the shares issuable upon exercise of the Warrants.

Premier Alliance Group 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.

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