Halliche has struggled to break into the starting line-up since his £2.5 million move from Portuguese outfit Benfica, whilst Riise has recently returned from a loan spell at Portsmouth.
The Algerian hasn't featured at all this season and has only made two appearances for the club since 2010 and his manager is sympathetic towards the player.
He told Sky Sports: "With Halliche, he is probably our fifth centre-back so he is in a difficult position.
"I feel for him because he played for the reserves when we beat Arsenal and played a terrific match.
"He is a good player, but I can't play five centre-backs. If there is a good opportunity for him, I would like to help him."
John Arne Riise's brother Bjorn Helge could also leave in January but only to a club that can guarantee Jol first team football.
He added: "Bjorn was at Portsmouth and came back so we have to wait and see.
"The boy needs to play but I have to find a good club for him that play in a certain style.
"They have to guarantee or promise me that he will be a good part of the squad because otherwise he will stay here."