Industry Veteran Announces Retirement from AllianceOne

Yesterday morning, AllianceOne Inc. announced the retirement of its Chairman of the Board and Chief Executive Officer, Mr. Robert C. Mauch. After spending over six years developing and nurturing the Company he was instrumental in founding, Mr. Mauch will be reducing his level of participation in the Company to allow him time to enjoy his retirement. Bob will continue to remain involved with AllianceOne by retaining a financial interest in the firm and serving as a consultant.

Effective March 23, 2005, Mr. Andrew Grace, formerly President of AllianceOne?s Collection Services Division, will assume the position of President of AllianceOne Inc. Mr. Grace previously served as President of TRIADvantage Credit Services Inc, until its sale to General Motors Consumer Finance. He then continued to function as TRIAD?s senior operations officer until the division was purchased by AllianceOne. In his new position Mr. Grace will be responsible for all aspects of the Company?s operations and will report directly to the Company?s Board of Directors.

Mauch commented, “AllianceOne has come a long way in a relatively short period of time, and I?m confident that the company will prosper under the leadership of Andy Grace”.

“I’m pleased to assume this new role and am excited about the future prospects of the company,” said new President Andy Grace.

The Company would like to express its continuing gratitude to Mr. Mauch for his service, perseverance, and guidance.