Allegiant Professional Business Services Announces Stock Buy-back Program

ANAHEIM, Calif., July 30 /PRNewswire-FirstCall/ -- Allegiant Professional
Business Services Inc. (Pink Sheets: APRO) a premier provider of financial
services to small and medium-size businesses, today announced that its board
of directors has approved the repurchase of up to an aggregate of 15,000,000
shares of its common stock.

David Goldberg CEO and Chairman of Allegiant stated, "Based on current market
prices, our board and management have considered the current market price of
our stock and have decided to introduce a share repurchase program of our
common stock". Goldberg continued, "We believe that our stock is undervalued
and that the repurchase program is a good investment".

The purchases may be made, from time to time, on the open market in compliance
with Rule 10b-18 and will be funded from available working capital. The number
of shares to be purchased and the timing of the purchases will be based on the
level of cash balances, general business conditions and other factors.

Allegiant Professional Business Services Inc. provides financial services to
small and medium-size businesses, relieving our clients from many of the
day-to-day tasks that negatively impact their core business operations, such
as payroll processing, human resources support, workers' compensation
insurance, safety programs, employee benefits, and other administrative and
aftermarket services predominantly related to staffing -- staff leasing,
temporary staffing and co-employment. We not only provide core services but a
wide selection of employee and employer benefits and aftermarket products.

Safe Harbor:

Statements in this press release that are not historical facts are
forward-looking statements, including statements regarding future revenues and
sales projections, plans for future financing, the ability to meet operational
milestones, marketing arrangements and plans, and shipments to and regulatory
approvals in international markets. Such statements reflect management's
current views, are based on certain assumptions and involve risks and
uncertainties. Actual results, events, or performance may differ materially
from the above forward-looking statements due to a number of important
factors, and will be dependent upon a variety of factors, including, but not
limited to, our ability to obtain additional financing that will allow us to
continue our current and future operations and whether demand for our products
and services in domestic and international markets will continue to expand.
The Company undertakes no obligation to publicly update these forward-looking
statements to reflect events or circumstances that occur after the date hereof
or to reflect any change in the Company's expectations with regard to these
forward-looking statements or the occurrence of unanticipated events. Factors
that may impact the Company's success are more fully disclosed in the
Company's most recent public filings with the U.S. Securities and Exchange
Commission ("SEC"), including its annual report on Form 10-K for the year
ended Sept. 30, 2007, and its subsequent filings with the SEC.

SOURCE Allegiant Professional Business Services Inc.

Norman Tipton, +1-858-798-1636, for Allegiant Professional Business Services
Inc.