Alliance Semiconductor Declares Special Cash Dividend

Alliance Semiconductor Corporation (Pink Sheets:ALSC) announced today that its Board of Directors declared a special one-time cash dividend of $0.02 per share, which is payable October 17, 2008 to stockholders of record as of the close of business October 10, 2008. Bryant Riley, Alliance’s Chairman, said, "This dividend represents our continued focus on returning capital to shareholders as we take steps to begin dissolution. We hope to make additional distributions, as available cash allows, considering the Company’s reduced expenses. The amount and timing of such additional payments is uncertain until the company’s holdings in auction rate certificates can to be monetized in an orderly manner."