Pharmagen, Inc. Retains Merriman Capital As Capital Markets Advisor

SAN FRANCISCO - March 5, 2013 - Merriman Capital, Inc. ("Merriman"), a wholly owned subsidiary of Merriman Holdings, Inc. (MERR), announced today that it has been retained as capital markets advisor to Pharmagen, Inc. ("Pharmagen") (PHRX). In this capacity, Merriman will advise Pharmagen management on various strategic initiatives focused on increasing shareholder value. These initiatives include the effective engagement of a potentially broader institutional shareholder base, strategies intended to increase trading liquidity and evaluating various opportunities, including assessments of their trading patterns and opportunities to pursue other venues, such as NYSE, NASDAQ and the OTCQX.

Pharmagen produces sterile injectables and has wholesale distribution capabilities to which allow the Company to quickly supply shortage prone markets. Pharmagen also develops over-the-counter nutraceutical products, which are designed to be taken in conjunction with prescription medications to alleviate side effects without drug interaction.

"We are very pleased to add Pharmagen to our rapidly expanding universe of corporate advisory clients,"said Douglas Rogers, Managing Director of Merriman`s Capital Markets Advisory Group. "Supporting our clients with corporate brokerage and strategic advisory services relating to their capital structure, market engagement practices and overall public markets strategy efforts are the central themes of our advisory platform at Merriman. We look forward to sponsoring and supporting the Pharmagen management team in our capacity as their capital markets advisor."

About Merriman Capital, Inc. Merriman Capital, Inc. is a corporate advisory-focused registered investment bank that provides equity and options execution services, market making, and differentiated research for high growth companies. The firm also provides capital formation, advisory, and M&A services. Merriman Capital, Inc. is a wholly owned subsidiary of Merriman Holdings, Inc. (MERR) and is the leading investment banking firm for OTCQX companies. For more information, please go to http://www.merrimanco.com/.

Merriman Capital, Inc. is a registered broker-dealer and member of The Financial Industry Regulatory Authority (FINRA) http://www.finra.org/ and the Securities Investor Protection Corporation (SIPC) http://www.sipc.org/.

About Pharmagen, Inc. Pharmagen, Inc ("Pharmagen"), and wholly owned subsidiaries and operating divisions Pharmagen Laboratories, Inc., Pharmagen Distribution, LLC and Pharmagen Nutraceuticals, Inc. is the leader in innovative solutions to the nations sterile pharmaceutical crisis. With a multifaceted approach, Pharmagen is meeting the demand of health provider market through dynamic, independent wholesale, compounding, and innovative IT solutions. Nationally focused, Pharmagen is a dynamic distributor of specialty drugs, compounding and admix pharmacy and producer of over-the-counter ("OTC") branded multivitamins to the healthcare provider market. Pharmagen currently functions as a just-in-time source of supply for hospitals for those products that are hard-to-find due to drug manufacturers` production shortages.

Note to Investors This press release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. This release does not constitute an offer to sell or a solicitation of offers to buy any securities of the Company. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our Form 10-K/A filed on April 30, 2012 and the Form 10-Q filed on November 14, 2012. Forward-looking statements include statements regarding our expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," and "would" or similar words. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise. The Form 10-K/A filed on April 30, 2012 and the Form 10-Q filed on November 14, 2012, together with this press release and the financial information contained herein, are available on our website, http://www.merrimanco.com. Please click on "Investor Relations." # # #

At Merriman:

Douglas Rogers Managing Director Merriman Capital, Inc. (415) 248-5612

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Pharmagen, Inc. Retains Merriman Capital As Capital Markets Advisor