CORRECTION FROM SOURCE: Allegiance Completes Private Placement and Proceeds With Two New Exciting Licensing Opportunities

Allegiance Equity Corporation (TSX VENTURE:ANQ) 

The following corrects and replaces the release sent at 12:22 pm ET on Oct. 13,
2010. The company name in the subtitle should have read "Allegiance Equity
Corporation"; "Amber Lynn" should have been spelled "Amber Lyn"; and a paragraph
should have been included at the end of the release. The complete and corrected
release follows. 


Amber Lyn Chocolate Inc. to launch Amber Plus with CinGx

New AmberPlus(TM) is the first functional food product combining the benefits of
dark chocolate with a proprietary and patented combination of cinnamon and
ginseng extracts called CinGx(TM), a proprietary compound developed by
Allegiance. The ingredients in CinGx are effective in:




--  Supporting optimal cognitive function and peak memory 
--  Promoting healthy mood and performance 
--  Helping maintain a healthy immune response/system 
--  Promoting healthy glucose and lipid metabolism 
--  Promoting cardiovascular and heart health 
--  Increasing energy 
--  Adapting to stress 
--  Promoting healthy aging 



AmberPlus will make its debut at the LUXURY REVIEW in Beverly Hills California
this month a major and exclusive public relations event.
www.TheLuxuryReview.Com.


About Amber Lyn 

AmberPlus(TM) is made by Amber Lyn Chocolates, Inc., headquartered in St. George
Utah. Founded in 1999, the company produces and markets sugar free and no sugar
added chocolate confections designed for people looking to reduce the intake of
carbohydrates and sugars. The company's products are sold online, in select
nationwide outlets and in Canada and Japan. For more information about Amber Lyn
Chocolates or AmberPlus, please contact Marc Purles at 435-674-5506 or email at
Marc@AmberLynChocolates.com.


New Clinical Trial with Enhanced Formulation of Relieva to Proceed

Prime Pharmaceutical Corporation (Prime) a subsidiary of Allegiance invented a
patented extraction process which increases the concentration of the beneficial
alkaloids from Mahonia Aquifolium. This ancient Indian Herbal remedy now 75
times more potent, is Prime Pharmaceutical's proprietary extract
"Psorberine"(TM).


Relieva(TM) is the company's first product made with Psorberine(TM) an
anti-inflammatory, antibacterial product for the treatment of psoriasis and
atopic dermatitis. Relieva(TM) provides immediate relief for itching, irritation
and inflammation associated with almost all problem skin conditions with ZERO
toxicity and Irritation.


Enhanced Formulation of Relieva captures attention of DSE Health

DSE Healthcare Solutions L.L.C., Edison, New Jersey will carry out at its own
expense a clinical trial with a new enhanced formulation for Relieva. 


Production of the new formulation and placebo for the clinical trial are
underway and the trial is expected to commence within the next 4 weeks. The
enhanced Relieva had surprisingly effective results with several cases of severe
psoriasis and the purpose of the trial is to verify these results.


DSE Healthcare Solutions is successful in the marketing of health care, medical
and consumer products, to food, drug and mass merchandiser customers. DSE
Healthcare Solutions was founded by very experienced former managers of one of
the world's largest pharmaceutical and health care companies. Robert C. Stites,
the CEO and one of the founders of DSE, was previously President and Chief
Operating Officer of Johnson & Johnson Products.


PRIVATE PLACEMENT AND INTEREST OF MANAGEMENT

Allegiance announced a proposed private placement of up to 1,500,000 shares on
September 3 rd ,2010 at $0.25 and on October 5th 2010 announced that placement
was withdrawn and instead announced a Private Placement of up to 400,000 common
shares at $0.15 per share. 


The TSX has given final approval to the purchase by Palm American Investment
Inc. of 333,333 common shares of Allegiance Equity Corporation at $0.15 per
share. 


Palm American will continue to be the Controlling Shareholder of Allegiance
holding 29.3% of the Company. 


Palm American Investment Inc is controlled by David Solomon, Marilyn Bloovol and
members of their family. Marilyn Bloovol and David Solomon are directors and
officers of Allegiance.


Without prior written approval of the exchange and compliance with all
applicable securities legislation, the shares issued pursuant to the private
placement may not be sold, transferred, hypothecated or otherwise traded on or
through the facilities of the TSX Venture exchange or otherwise in Canada or to
or for the benefit of a Canadian resident until February 15, 2011.


Additional information relevant to the Company's activities, including the
Company's press releases can found on SEDAR at www.sedar.com.
(TSXV:ANQ)
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