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Western Alliance Bancorporation And Western Liberty Bancorp Announce Filing Of Proxy Statement/Prospectus Supplement

In light of all of the foregoing, as well as the inherent uncertainties involved in any projection of future results of operations, stockholders of Western Liberty are cautioned not to place any reliance on the projections summarized above. While the financial projections set forth above were prepared in good faith, no assurance can be given regarding future events. Although presented with numeric specificity, the financial projections reflect numerous estimates and assumptions that may not be realized and are subject to significant uncertainties and contingencies, many of which are beyond the control of Western Liberty. Stockholders should instead consider the information on such projections provided herein solely as background information that was available to the parties and Western Liberty’s financial advisor in connection with their due diligence processes and consideration of the merger and the preparation of the fairness opinion by Western Liberty’s financial advisor.

Under the caption “The Merger—Opinion of Financial Advisor to Western Liberty--Summary of Proposal” on page 58 and “The Merger—Opinion of Financial Advisor to Western Liberty—Analysis of Selected Merger Transactions” on page 63, the proxy statement/prospectus is amended and supplemented as follows:

The transaction ratio for “Transaction Value/Western Liberty Stock Price, as of August 16, 2012” set forth in the table under the caption “The Merger—Opinion of Financial Advisor to Western Liberty--Summary of Proposal” on page 58 is hereby corrected to read as 142.1%. The ratio was inadvertently disclosed incorrectly as 42.1% in the proxy statement/prospectus.

The transaction ratios for “Transaction Value/Western Liberty Stock Price, as of August 16, 2012” set forth in the table under the caption “The Merger—Analysis of Selected Merger Transaction” on page 63 are hereby corrected to read as follows:
Western Liberty Bancorp / Western Alliance Bancorporation Median Nationwide Deals (Target NPAs/Assets

> 5.0%; TCE/TA

> 10%)

Median Western Region Deals (Target Assets $100mm - $500mm)
Transaction Value/ Western Liberty Stock Price, as of August 16, 2012: 142.1 % 164.1 % 136.8 %

The transaction value represented a 42.1% premium over the Western Liberty stock price as of August 16, 2012.

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