Halo Companies, Inc. Announces Change of Auditor

ALLEN, TX--(Marketwire - May 1, 2012) - Halo Companies, Inc. (OTCQB: HALN) (PINKSHEETS: HALN), a nationwide distressed asset services company, today announced the appointment of Whitley Penn LLP as its independent registered certified public accountant, replacing Montgomery Coscia Greilich LLP ("MCG"). Whitley Penn will begin providing services for the first fiscal quarter of 2012.

The Board of Directors approved the transition from MCG to Whitley Penn and notes that the decision to change auditors was not the result of any disagreement between Halo Companies and MCG on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure.

"Whitley Penn is a very well respected and distinguished firm in the industry. The company's significant experience working with publicly traded companies, audit and tax professionals with strong technical skills in the real estate space, and high quality standards will allow Whitley Penn to provide the highest caliber services to meet the current and future needs of Halo," states Paul Williams, Vice Chairman & Chief Financial Officer of Halo Companies. "We look forward to the value they will bring to the company through their seasoned professionals and dedication to Halo's timely financial reporting and increased transparency."

About Halo Companies, Inc.

Halo Companies, Inc. (OTCQB: HALN) (PINKSHEETS: HALN) is a publicly-traded, nationwide distressed asset services company, providing technology-driven asset management, portfolio analytics, acquisition, repositioning and liquidation strategies for the private investment and mortgage servicing industry. Founded in 2004, Halo established its roots in the mortgage origination sector, quickly growing to an award-wining consumer financial services company. Halo's years of experience, key leadership and industry knowledge laid the foundation for its emergence as a premier distressed asset services company. For more information about Halo Companies, Inc., visit www.haloco.com.

Cautionary Language Concerning Forward-Looking Statements

Information set forth in this press release contains forward-looking statements that are subject to risks and uncertainties, and actual results might differ materially. A discussion of factors that may affect future results is contained in Halo Companies' filings with the Securities and Exchange Commission. Halo Companies, Inc. disclaims any obligation to update and revise statements contained in this news release based on new information or otherwise.