Alliance Financing Group Announces Resignation of Director

  Alliance Financing Group Inc. (TSX VENTURE: AFG) (the "Corporation") announces that Mr. Glenn Bowman has resigned from its board of directors. Mr Bowman has served as a director and as Chairman since his election to the board in September 2007. Mr. Bowman will now re-join the Corporation's board of advisors, a position which he previously held from 2003 to 2007. The Corporation wishes to thank Mr. Bowman for his time and guidance on the board of directors, and management looks forward to continue to avail itself of Mr. Bowman's assistance in the future on the board of advisors.

About Alliance Financing Group Inc.

Alliance Financing is a diversified commercial finance institution that specializes in providing branded or white labelled asset based financing solutions, to the SMB (Small to Mid-sized Business) marketplace and to public sector organizations. Alliance Financing works within a multi-underwriter business model, providing a comprehensive suite of financing options available from selected underwriting partners, which include banks, lessors, and other financial institutions. Its financing solutions are delivered through both traditional bricks and mortar channels and various Internet channels. Alliance Financing maintains a "high-tech, human touch" philosophy; utilizing a combination of proprietary technology - such as its private labelled online financing tools, selected ASP technologies, and a dedicated staff of finance professionals to deliver its products and solutions. For more information about Alliance Financing Group Inc. please visit www.alliancefinancing.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts: Media Inquiries: Alliance Financing Group Inc. Bernard Shimkovitz, Chief Executive Officer [phone] ext. 225 or Toll Free: 1-877-660-3660 [phone] (FAX) Email: [e-mail] Website: www.alliancefinancing.com