Agreement With Nealanders International to Market and Distribute CinGx Marks New Milestone for Allegiance Equity Corporation

TORONTO, April 12, 2011 /PRNewswire/ -- Allegiance Equity Corporation  (TSX-VENTURE: ANQ) proudly announces that Nealanders International – a world-class supplier of ingredients and additives in the food industry – has agreed to market and distribute CinGx™ in North America. CinGx™ is a revolutionary new product that helps prevent and treat Type 3 Diabetes. This proprietary food additive has a very compelling set of health benefits that enhance the value of most food and beverage products. Benefits include reducing blood sugar, cholesterol and triglycerides, while improving memory, cognitive function, energy and mental well-being.

Recent research discovered that the brain produces insulin and depriving brain cells of insulin damages the cells, leading to memory loss, dementia, and Alzheimer's Disease. The impact of high blood glucose levels results in Type 3 Diabetes, also known as "brain diabetes." CinGx™ will greatly benefit the rapidly increasing number of North Americans diagnosed with diabetes, particularly Type 3 Diabetes.

"Diabetes is one of the clear metabolic risk factors for Alzheimer's Disease (AD), perhaps through insulin signaling or secondary cardiovascular effects," says Dr. Cantillon, American Board Certified Neurologist and Psychiatrist. "After rosiglitazone and other failures, there are no metabolic treatments in sight for AD that are effective and/or do not have serious side effects. Therefore, insulin receptor protein tyrosine kinase treatment for Type 3 Diabetes might represent a new opportunity for long term safe prevention of AD."

CinGx™ is a scientifically formulated and synergistic combination of standardized natural plant extracts that is both effective and safe. Nealanders is poised to market CinGx™ to its clients for placement in a variety of foods and beverages.

"Nealanders, the leading technology based ingredient company, has 2,000 customers in every corner of the industry, from nutrition, baking, confection, and food processing, to dairy, dry blending, pharmaceutical and more. They will maximize the commercialization of CinGx™ across a broad spectrum of mass market food products. Nealanders may not make the foods we eat but makes the foods we eat better," says David Solomon, President of Allegiance Equity.

ABOUT NEALANDERS

Nealanders is recognized as the leader in the manufacturing and distribution of food ingredients, specializing in antioxidants, release agents, dough conditioners and enrichment blends. Proudly Canadian, Nealanders' Head Office is located in Mississauga, ON, with facilities strategically located across North America providing their customers with coast-to-coast coverage in both distribution and technical sales. On the leading edge of emerging trends and a strategic focus on Wellness, Nealanders has extensive laboratory capabilities for product development and full technical and regulatory support. Nealanders embraces a customer focused mindset and value creation for their customers.

"I am very excited about moving forward with this revolutionary new additive, says Steve Owen, VP Sourcing, Product Development & GM – Ontario. "With the added value CinGx™ brings to our customers' products and the important health benefits for consumers, everybody wins."

Distribution Agreement

The Agreement dated April 7th between Nealanders and Allegiance provides that Nealanders will promote, distribute and expand the sales of CinGx™, which it will purchase from Allegiance. Nealanders will also provide quality controls, blending and other services. As part of the purchase price, Allegiance will provide support  services and assistance  with  regulatory marketing and other matters. The Agreement is for a period of five years.

ABOUT ALLEGIANCE

Allegiance provides financial and business assistance to corporations in various industries. The Company and its partners develop innovative new treatments for widespread diseases and medical conditions where existing treatments fail to meet the needs of patients.

The Nealanders agreement and recent support of leading research scientists including Dr. William Klein, Neurobiology Professor at Northwestern University, and Dr. Marcus Cantillon, American Board Certified Neurologist and Psychiatrist, mark two important milestones for Allegiance and CinGx™.

Additional information relevant to the Company's activities, including the Company's news releases, can found on SEDAR at www.sedar.com.

www.allegianceequity.com

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SOURCE Allegiance Equity Corporation