Alliance Semiconductor Announces Special Cash Dividend

Alliance Semiconductor Corporation (Pink Sheets:ALSC) announced today that its Board of Directors declared a special one-time cash dividend of $0.25 per share. The dividend is payable April 8, 2008 to shareholders of record as of March 31, 2008.

The Board of Directors is pleased to return additional value to the Companys stockholders through the payment of this dividend, said Mel Keating, Alliances President and CEO. The dividend follows a special cash dividend of $3.75 per share that was paid to the Companys stockholders on July 17, 2007. Mr. Keating added, Management and the Board continue to evaluate alternatives for the direction of the Company, consistent with realizing value for the Companys stockholders.

Contacts:

Alliance Semiconductor Corporation
Melvin L. Keating, 408-855-4900
President and Chief Executive Officer

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