On January 18, 2011 Alliance Bancorp, Inc. of Pennsylvania, a newly formed Pennsylvania corporation announced that it had completed the second-step conversion of Alliance Bank from the mutual holding company form of organization to stock holding form of organization and the concurrent public stock offering. A total of 3,258,425 shares of common stock were sold in the subscription, community and syndicated community offerings at $10.00 per share for gross proceeds of $32.6 million. Approximately 2,216,235 additional shares were issued in exchange for the Mid-Tier Holding Company common stock. The total shares outstanding after the stock offering and the exchange are approximately 5,474,710 shares. Please refer to the complete press release dated January 18, 2011 for more detail and a more complete description of the reorganization.

December 31, 2010

Alliance Bancorp Common Stock is traded on the Nasdaq Global Market and quoted under the symbol “ALLB”. The closing price on December 31, 2010 was $8.55 per share pre-adjusted. There were 6,676,476 shares pre-adjusted outstanding as of December 31, 2010, comprised of 3,973,750 shares held by Alliance Mutual Holding Company and 2,702,726 shares held by approximately 1,100 minority public stockholders. The stock prices and dividend amounts in the following table have been adjusted for the “second-step” conversion and reorganization of the Bank from a mutual holding structure to a stock holding company structure on January 18, 2011. In connection with the conversion and reorganization, each share of Alliance Bancorp was exchanged for 0.8200 shares of common stock of Alliance Bancorp, Inc. of Pennsylvania, the new Pennsylvania holding company.

FOR THE QUARTER ENDED HIGH LOW CLOSE CASH DIVIDENDS DECLARED September 30, 2011 $11.22 $10.02 $10.40 $.05 June 30, 2011 $11.24 $10.70 $11.15 $.04 March 31, 2011 $11.70 $10.47 $10.70 $.03 December 31, 2010* $11.28 $8.54 $11.16 $.04 September 30, 2010* $10.29 $8.78 $8.89 $.04 June 30, 2010* $10.30 $9.76 $10.12 $.04 March 31, 2010* $10.55 $10.07 $10.43 $.04 December 31, 2009* $10.67 $10.24 $10.24 $.04

* Adjusted for January 18, 2011 conversion and reorganization

Independent Registered Public Accounting Firm Parente Beard LLC 1200 Atwater Drive, Suite 225 Malvern, PA 19355	Investor Information Investors, analysts and others seeking financial information may contact: Kathleen P. Lynch Corporate Secretary 541 Lawrence Road Broomall, PA 19008-3599 (610) 353-2900
Market Makers Stifel Nicolas Weisel Sandler O'Neill & Partners, L.P. USB Financial Services, Inc.	Transfer Agent Direct questions regarding dividend checks, address and name changes, or lost certificates to: Registrar and Transfer Company 10 Commerce Drive Cranford, NJ 07016
Securities Counsel Elias, Matz, Tiernan & Herrick LLP 734 15th Street, NW, 11th Floor Washington, D.C. 20005

Upon request, Alliance Bancorp Annual Report on Form 10-K for the year ended December 31, 2010, required to be filed with the Securities and Exchange Commission will be furnished without charge to any stockholder, or may be viewed on our website at www.allianceanytime.com.

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