Allegiance Capital Wins 2008 Caesar Award.

Company Honored for Advancing Corporate Social Responsibility on the International Equity Sale of Fiberod

DALLAS -- Allegiance Capital Corporation, a full-service investment banking firm serving mid-market companies worldwide, was named the winner of the acclaimed 2008 Caesar Award for Advancing Corporate Social Responsibility (CSR) for International Deal of the Year which was based on the company's outstanding sale of Fiberod (Fiber Composite Company, Inc.) to a large multinational corporation in Europe.

A large trade association of professionals in the mergers and acquisitions industry, The M&A Forum promotes good corporate citizenship among M&A practitioners. The Caesar Awards program recognizes transactions that demonstrate an exceptional range of characteristics including strategic significance, complexity in deal structure, creative financial solutions, resourcefulness and innovation. In addition, the awards committee also evaluates how the transaction affects job creation, and whether the deal protects the environment or benefits the business community in some significant way.

"Within the lower middle market, Allegiance Capital has an unmatched reputation for identifying buyers willing to pay premium prices for U.S. businesses and sellers wanting to retain a measure of control in the business they are seeking to sell," said David Lonsdale, president and managing director of Allegiance Capital Corporation. "We have the international contacts, and the innovative investment banking talent that gives us a real advantage when it comes to closing transactions that favor our clients."

Competing with some of the top private equity funds, investment/merchant bankers and corporate lawyers in the United States, Allegiance Capital along with winners of the 15 other awards were honored for their achievements by colleagues and peers during the prestigious leadership conference on Alternative Investing at The M&A Summit held at the Hamptons Conference Center.

A Texas-based specialist in oil and gas lifting equipment, Fiberod is the world leader in the manufacture and distribution of fiberglass sucker rods. "Our challenge with Fiberod was to get full value for an oil field service business located in the heart of the Texas oilfields. Through Allegiance Capital's aggressive marketing and canny negotiation skills, the Fiberod sale achieved all of the founding owners' objectives," Lonsdale noted. "Smiths Group, a global technology company based in the United Kingdom, paid a handsome price for Fiberod. In addition, the financial backing of Smiths Group preserved the local workforce while also enabling Fiberod management to open a new manufacturing facility nearby which will expand the workforce by 20 percent or more. Clearly, everyone benefited from the transaction."

According to Lonsdale, Allegiance Capital has experienced tremendous growth in the energy services industry during the past few years. To date, the company closed more than $100 million in oil and gas related transactions during 2007, and there are approximately $400 million in pending transactions expected to close during 2008.

"Buyers across the globe are interested in investing in U.S. businesses, and Allegiance Capital is well positioned to benefit from this growing trend. The energy sector is in high demand, but there are other industries that are attracting interest from foreign buyers as well. With extensive contacts in the international business community, Allegiance Capital clients have a real advantage when they decide to sell their business. Despite a weak dollar, investment from international buyers is expected to remain strong throughout the remainder of 2008 and into the future," Lonsdale predicts.

About Allegiance Capital:

Allegiance Capital Corporation is a full-service investment banking firm specializing in the middle market (companies with revenue from $20 million to $500 million), with offices in Dallas, New York, Minneapolis/St. Paul, Vancouver, British Columbia, Shanghai and Tel Aviv. Through its worldwide network, Allegiance Capital assists companies in every aspect of selling and financing a business, including debt restructuring, mezzanine financing, buy out management, strategic partnering, consulting and other related services. Allegiance Capital differentiates itself by having deep industry knowledge, vast contacts with potential buyers, heavy investment in educating sellers and obtaining premium pricing for clients. For more information, refer to the company website at www.allcapcorp.com.