Item 7.01 REGULATION FD DISCLOSURE

Alliance Financial Corporation (the "Company")(NASDAQ: ALNC), the holding company for Alliance Bank, N.A., announced today that John H. Watt, Jr., Executive Vice President, will participate in a panel discussion entitled "Navigating the Northeast" at the Sandler O'Neill + Partners, L.P. East Coast Financial Services Conference on Thursday, November 12, 2009, at 2:55 p.m. EST.

A live webcast of the presentation, as well as the materials used in the presentation, will be available via the Internet at:
http://www.thomson-webcast.net/us/dispatching/SOP_200911. The conference will also be available via audio conference by dialing 1-617-614-3670 (Passcode:
Session 1). The presentation may contain forward looking statements and other material information.

With approximately $1.5 billion in assets, Alliance Financial Corporation is an independent financial holding company with Alliance Bank, N.A. as its principal subsidiary that provides retail and commercial banking, and trust and investment services through 29 offices in Cortland, Madison, Oneida, Onondaga and Oswego counties. Alliance also operates an investment management administration center in Buffalo, N.Y., an equipment lease financing company, Alliance Leasing, Inc., and a multi-line insurance agency, Ladd's Agency, Inc.

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