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MEDIA RELEASE
(TSX-V:AFG)

Alliance Financing Group Agrees to Acquire Hill & Gertner Financial Partners

Toronto - September 9, 2002

Alliance Financing Group Inc. (TSX Venture Exchange symbol "AFG") announced today that it has reached an agreement in principal to acquire Hill & Gertner Financial Partners ("Hill & Gertner"), a division of Hill & Gertner Capital Corporation. Included in the acquisition will be the services of David Hill, President, Lorne Gertner, CEO and Michael Ward, Partner. Under the terms of the agreement, Alliance Financing will issue 9,600,000 common shares to acquire Hill & Gertner. Bernie Shimkovitz, CEO of Alliance Financing Group Inc. commented "For some time now we have been partnering with Hill & Gertner on several exciting investment banking opportunities. This merger of our two companies is a logical outgrowth of the work we have been doing together. In addition, adding the capabilities of Hill & Gertner, and the talents of their management team, significantly enhances Alliance's existing mix of financial solutions, and will help us reach our goal of becoming a premier diversified financial institution". The closing of the transaction is subject to completion of all required due diligence, the entering into of a definitive purchase agreement, and approval of all required security regulatory authorities, including the approval of the TSX Venture Exchange.

About Alliance Financing Group Inc.
Alliance Financing is proving itself as a leader in providing a broad base of leasing and financing solutions for both businesses and consumers in both the traditional bricks and mortar marketplace, and since early 2000, the Internet marketplace. 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 a comprehensive suite of end-to-end financing fulfilment solutions.

About Hill & Gertner Financial Partners
Hill & Gertner Financial Partners, the non-retail investment banking division of Hill & Gertner Capital Corporation, provides dynamic, mid-market businesses with the variety and depth of advisory, investment and merchant banking services that have been traditionally reserved for the largest of corporations.

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For further information regarding this press release, please contact:

Bernard Shimkovitz
Chief Executive Officer
Alliance Financing Group Inc
Tel: 905-660-3660 ext. 225         Toll Free: 877-660-3660
Fax: 905-660-3078
Email: bernie@alliancefinancing.com

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.

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