Filed by Alliance Bancorp of New England, Inc.

                           Pursuant to Rule 425 under the Securities Act of 1933
                                  and deemed filed pursuant to Rule 14a-12 under
                                             the Securities Exchange Act of 1934

                          Subject Company: Alliance Bancorp of New England, Inc.
                                                   Commission File No. 001-13405

                                                            Date: March 18, 2004

              ALLIANCE BANCORP SHAREHOLDERS VOTE TO APPROVE MERGER
                           WITH NEW HAVEN SAVINGS BANK

VERNON, CT. March 18, 2004. At a Special Meeting held today, shareholders of
Alliance Bancorp of New England, Inc., the holding company of Tolland Bank,
voted to approve the merger with NewAlliance Bancshares, Inc. and its proposed
subsidiary New Haven Savings Bank. The merger transaction was announced on July
15, 2003, and includes the merger of Alliance and Connecticut Bancshares, the
holding company for the Savings Bank of Manchester, into NewAlliance Bancshares.

Alliance's CEO & President Joseph Rossi said, "We are pleased that our
shareholders voted overwhelmingly in favor of the merger with New Haven Savings
Bank. We believe the combined resources of New Haven Savings Bank and Tolland
Bank will be a strong presence in the market."

NewAlliance Bancshares, Inc., the proposed bank holding company for New Haven
Savings Bank is a newly formed Delaware Corporation that will own New Haven
Savings Bank. The transaction is expected to close on or about April 1, 2004,
subject to receipt of all regulatory approvals.

Upon completion of the merger transaction, the resulting bank will operate as
NewAlliance Bank and is expected to have approximately 74 branches in
Connecticut, $6.23 billion in assets, $3.75 billion in deposits and equity of
approximately $1.41 billion.

Under the terms of the merger transaction approved by Alliance's shareholders
today, each shareholder of Alliance can elect to receive for each share of
Alliance common stock either 2.5 shares of NewAlliance Bancshares, Inc. common
stock or $25 in cash. The offering for the common stock of NewAlliance
Bancshares, Inc. concluded on March 11, 2004.

Alliance Bancorp of New England, Inc. (AMEX:ANE) is the bank holding company for
Tolland Bank, a Connecticut-chartered savings bank with ten offices serving
central and eastern Connecticut. Alliance builds community and shareholder value
relying on its fundamental strengths of convenience, superior marketing,
customer service, knowledge of its communities, and competitive products.
(www.alliancebancorp.com and www.tollandbank.com)

Statements in this press release regarding Alliance Bancorp of New England,
Inc.'s business that are not historical facts are "forward-looking statements"
that involve risks and uncertainties. For a discussion of such risks and
uncertainties, which could cause actual results to differ from those contained
in the forward-looking statement, see "Forward-Looking Statements" in the
Company's most recent Annual Report.


ADDITIONAL INFORMATION
The proposed merger of Alliance Bancorp of New England, Inc. ("Alliance") and
NewAlliance Bancshares, Inc., the new holding company for New Haven Savings Bank
("NewAlliance"), was approved by the stockholders of Alliance on March 18, 2004.
NewAlliance has filed a registration statement, a proxy statement/prospectus and
subsequent amendments as well as other relevant documents concerning the
proposed transaction with the SEC. Stockholders of Alliance are urged to read
the registration statement, the proxy statement/prospectus, amendments and any
other relevant documents filed with the SEC because they contain important
information. You may obtain a free copy of the proxy statement/prospectus, as
amended, as well as other filings containing information about Alliance and
NewAlliance, at the SEC's Internet site (http://www.sec.gov). Copies of the
proxy statement/prospectus, as amended, and the SEC filings incorporated by
reference in the proxy statement/prospectus, as amended, can be obtained,
without charge, by directing a request to Alliance Bancorp of New England, Inc.,
Karen Ouimet-Matusek, Shareholder Contact, 348 Hartford Turnpike, P.O. Box 2588,
Vernon, CT 06066 (860) 875-2500.

Alliance and its directors and executive officers may be deemed to be
participants in the solicitation of proxies from the stockholders of Alliance in
connection with the proposed merger. Information about the directors and
executive officers of Alliance and their ownership of Alliance common stock and
additional information regarding the interests of these participants may be
obtained by reading the proxy statement/prospectus, as amended, regarding the
proposed transaction.

The information provided in this filing may contain forward-looking statements
and describe future plans, strategies, synergies and cost savings related to the
merger. The words "believe," "expect," "anticipate," "estimate," "plan,"
"create," "utilize," "project" and similar expressions identify forward-looking
statements. The ability to predict results or the effect of future plans or
strategies including the merger or qualitative or quantitative changes based on
market risk exposure is inherently uncertain. Factors which could affect actual
results and impact the merger include, but are not limited to, changes in
general market interest rates, general economic conditions,
legislative/regulatory/tax changes, fluctuations of interest rates, changes in
the quality or composition of our loans and investment portfolios, deposit
flows, competition, demand for financial services in our markets, and changes in
accounting principles. Similar factors are present with respect to the other
party to the merger, NewAlliance. These factors should be considered in
evaluating the forward-looking statements, and undue reliance should not be
placed on such statements.