Menlo Park Calif.-- August 26, 2010—Alliance Semiconductor Corporation (Pink Sheets: ALSC) announced today that its Board of Directors declared a special one-time cash dividend of $.03 cents per share, which is payable September 7, 2010 to stockholders of record as of. August 31, 2010. Bryant Riley, Alliance Chairman, said "Following this dividend our cash balance will be approximately $1.4 million." In addition, the Company has initiated legal proceedings related to the Ambac Assurance preferred stock converted in 2008 from auction rate securities that the Company purportedly acquired in 2007; among other things, the Company asserts that all such purported transactions were in fact void.
Alliance Semiconductor Corporation, Menlo Park, CA
J. Michael Gullard, Director