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ASSET ALLIANCE EXPANDS PRIVATE PLACEMENT CAPABILITIES WITH HEDGE HARBOR

Asset Alliance Corporation, a global leader in alternative investments, today announced the launch of Hedge Harbor, a private placement specialist business, through two wholly-owned subsidiaries of the company, Hedge Harbor Inc. and Hedge Harbor Limited.

Complimenting the success of the firm's initial entry into this business in the Middle East through its affiliated company, Capintro Partners, Ltd., Hedge Harbor has expanded the business into the US and Europe with offices in New York and London. As part of this effort, Bob Stearns has joined Hedge Harbor as a Senior Managing Director in New York. James Parker, Senior Managing Director of Asset Alliance International (NASDAQ:UK) Limited, will serve as Head of International Business Development of Hedge Harbor, London. Messrs. Parker and Stearns report to Arnold Mintz, President of Asset Alliance and Global Head of Hedge Harbor.

"Our value-add differentiating factor is our 12 years of experience in identifying, seeding and allocating to leading hedge fund managers globally," said Mr. Mintz. "Our new role of matching best of breed, select managers with appropriate investors is a logical evolution."

"With our hands-on, consultative approach to the investment placement business, we are deeply involved in detailed analysis of the manager's investment process, infrastructure and risk management profile," added Mr. Mintz.

Hedge Harbor represents a select group of managers in different asset classes and strategies, including Group G Capital Partners LLC, which specializes in high yield and distressed debt investments through various investment products. Hedge Harbor will also focus on identifying and representing specialist and niche managers. The first such manager is one that focuses on the MENA (Middle East, North Africa) region.

"We are confident we can deliver managers who demonstrate a definable edge and provide alpha in what is a crowded, less profitable environment for plain vanilla strategies," said James Parker.

Asset Alliance has invested a significant amount of resources into this effort with 20 employees split among New York, London and its Dubai based affiliate. The firm plans to expand with a representative office in California in the near future. Hedge Harbor also plans to expand into real estate and private equity, as well as acquire investment placement firms to build a leading platform to replicate their success in building a stable of hedge fund managers.