Alliance Semiconductor’s Keating Resigns as President and CEO

Alliance Semiconductor Corp. of Santa Clara, Calif., announced that Mel Keating has resigned as the company’s president and chief executive officer. Effective Sept. 22, 2008, Keating has stated that his resignation is intended to further reduce the company’s costs, continuing the substantial cost reductions since the company sold its operating businesses in fiscal 2007. Noting that Keating had agreed to assist with the transition process, Bryant Riley, Alliance’s chairman, also noted that he, along with director Mike Gullard would share the responsibilities of CEO. Riley added that the management change should not impact the company’s previously announced plans to begin proceedings for an orderly dissolution. Alliance plans to hold on investor conference call on September 19, 2008 at 10 a.m., Pacific Time, and will permit interested investors to ask questions. To participate, dial (866) 578-5747, and use passcode 22344586. International participants should dial in at (617) 213-8054 and use the same passcode.