Release Date: 
11/13/12

Summit, NJ:  Robert Massengill was elected to the Board of Directors of Alliance Holdings, Inc., a 100% ESOP-owned, private equity firm located in Philadelphia, PA. The firm's core belief is that employee ownership, through the use of a captive ESOP structure, provides the greatest benefits to both selling shareholders and their employees.  Ken Wanko, Alliance CEO commenting on the news said, "As our new leadership team looks forward, we will continue to acquire in companies that fit with our goals and objectives.  Having Bob on our Board as an independent director will help us achieve these goals and we look forward to his contributions as a seasoned ESOP investment banker and company President."

Visit the Alliance website at www.allianceholdings.com to learn more about its unique ESOP investment philosophy and investment criteria.