West Palm Beach, Florida, December 8, 2006 – The ComVest Group announced the $90 million initial public offerings of its portfolio company, Allegiant Travel Company (NASDAQ: ALGT). Five million shares of common stock were priced at $18.00 per share and the common stock will trade on the NASDAQ Stock Market under the symbol “ALGT”. Merrill Lynch & Co. acted as sole book-running manager for the offering. Bear Stearns & Co. Inc. and Raymond James served as co-managers. Allegiant has granted the underwriters a 30-day option to purchase up to an additional 750,000 of common stock to cover overallotments, if any.

Las Vegas-based Allegiant is a leisure travel company focused on linking travelers in small cities to world-class leisure destinations such as Las Vegas, Nev., Orlando, Fla. and Tampa/St. Petersburg, Fla. Allegiant operates a low-cost passenger airline marketed to leisure travelers in small cities, allowing Allegiant to sell air travel both on a stand-alone basis and bundled with hotel rooms, rental cars and other travel related services.

Proceeds from the offering are expected to be approximately $82.3 million or $94.9 million if the underwriters exercise their overallotment option in full, after deducting the underwriting discounts and commission and the estimated offering expenses. The proceeds from the offering will be used to retire certain indebtedness, purchase additional aircraft consistent with Allegiant’s growth strategy and acquisition criteria, and for general corporate purposes, including working capital.

About Allegiant
From America’s favorite small cities to world-class destinations, Allegiant Air makes leisure travel affordable and convenient. With low-low fares, nonstop, all-jet service and premier travel partners, Allegiant Air provides a complete travel experience with great value and without all the hassle. Allegiant Air was founded in 1997 and is certificated by the U.S. Department of Transportation (DOT) as a “Scheduled Air Carrier” with authority to fly scheduled and charter airline operations throughout the U.S. The Company also has authority for charter service to Canada and Mexico. For further information please contact: Tyri Squyres, Director – Corporate Communications, 702-851-7370, tsquyres@allegiantair.com.

About ComVest
The ComVest Group is a Leading Private Equity Firm focused on investing in middle-market companies. Since 1988 ComVest has invested more than $2 billion of equity capital in over 200 public and private companies worldwide. Through our extensive financial resources and broad network of industry experts, we are able to offer our companies total financial sponsorship, critical strategic support, and business development assistance. Their focus is centered on building industry leading companies and creating long term value for equity holders. For more information on ComVest, visit www.comvest.com.


Included in this release are “forward-looking statements.” Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations reflected in such forward-looking statements will prove to have been correct. The Company’s actual results could differ materially from those anticipated in the forward-looking statements. The Company refers you to the cautionary statements and risk factors set forth in the documents it files with the Securities and Exchange Commission, including its most recent 10-KSB. The Company is not under any obligation (and expressly disclaims any obligation) to update or alter its forward-looking statements, whether as a result of new information, future events, or otherwise.