Middle Kingdom Alliance Corp. Announces IPO Closing

Middle Kingdom Alliance Corp. Announces IPO Closing

December 21, 2006

    SHANGHAI, China and ATLANTA, Dec. 20
/Xinhua-PRNewswire/ -- Middle 
Kingdom Alliance Corp. ("the Company") (OTC
Bulletin Board: MKGDU.OB; 
MKGBU.OB) today announced the closing of the Company's
initial public 
offering of 198,000 Series A units and 3,300,000 Series B
units.

    Each Series A unit consists of one share of common
stock, par value 
US$0.001 and five warrants each to purchase one share of
common stock and 
each Series B unit consists of one share of common stock,
par value US$0.001 
and one warrant to purchase one share of common stock. 
Both the Series A and 
Series B units were sold at an offering price of US$8.00. 
I-Bankers 
Securities Incorporated, Newbridge Securities Corporation
and Westminster 
Securities Corporation acted as the managing underwriters
for the initial 
public offering.  The Company's units began trading on the
over the counter 
bulletin board on Thursday, December 14, 2006.

    Copies of the prospectus relating to this offering may
be obtained from I-
Bankers Securities Incorporated, 125 E. John Carpenter
Freeway, Suite 260, 
Irving, TX 75062 or from Middle Kingdom Alliance Corp., 333
Sandy Springs 
Circle, Suite 223, Atlanta, GA 30328 or on the internet at:

http://www.sec.gov/Archives/edgar/data/1360244/000119312506253530/0001193125-
06-253530-index.htm 

    This announcement is neither an offer to sell nor a
solicitation of an 
offer to buy these securities. The offer is made only by
the prospectus. 

    About Middle Kingdom Alliance Corp.

    Middle Kingdom Alliance Corp. is a company with offices
in Shanghai, 
People's Republic of China and in Atlanta, Georgia, USA. 
The Company was 
formed for the purpose of completing a merger, capital
stock exchange, asset 
purchase or other similar business combination with a
company having its 
primary or substantial operations in the People's Republic
of China.    


    For more information, please contact: 

     Jay Tanenbaum
     Middle Kingdom Alliance Corp.
     Tel:  [phone]


SOURCE  Middle Kingdom Alliance Corp.