SOURCE: Alternate Energy Holdings, Inc.

January 23, 2008 09:15 ET

AEHI Signs Agreement With UniStar Nuclear Energy to Discuss Ownership Interest in Proposed Idaho Nuclear Plant

EAGLE, ID--(Marketwire - January 23, 2008) - Alternate Energy Holdings, Inc. (PINKSHEETS: AEHI) today announced that it has signed a memorandum of understanding (MOU) with Baltimore-based UniStar Nuclear Energy, a joint venture of Constellation Energy and EDF. The agreement details AEHI's and UniStar's intentions to enter into discussions that could result in an agreement in which UniStar may acquire a significant ownership interest in a potential nuclear generating facility to be sited in Idaho, at AEHI's Idaho Energy Complex, as well as the potential for UniStar to operate the proposed plant. This MOU marks a major milestone for the emerging growth company AEHI. Moreover, UniStar's interest in working with AEHI to secure a material level of involvement in the nuclear project further validates the potential of AEHI's planned Idaho Energy Complex. AEHI and UniStar have been working together for several months under separate agreements to explore the option of new nuclear in Idaho, and this MOU represents the next step in the companies' relationship.

"The MOU between UniStar and AEHI is the roadmap that our two companies can follow to arrive at a comprehensive agreement that would allow us to jointly pursue the goal of new nuclear in Idaho," said George Vanderheyden, President of UniStar. "It is the first step in what we hope will become a long and productive relationship with AEHI in a potential project that could provide innumerable benefits to the citizens and state of Idaho."

About Alternate Energy Holdings, Inc. (www.alternateenergyholdings.com)

Alternate Energy Holdings, Inc., actively acquires private green energy companies, as well as develops and markets innovative clean energy sources. Current projects include nuclear construction, bio-fuel generation, and a safe and effective system for removing carbon dioxide from coal and natural gas plants emissions.

About Idaho Energy Complex Corporation (www.idahoenergycomplex.com)

The Idaho Energy Complex, a holding of AEHI, is a proposed $4.5 billion commercial nuclear power plant/bio-fuel generation facility to be constructed on a designated site near Grand View, Idaho. The electricity provided by the nuclear plant would be sufficient to power Idaho's growing needs and allow the elimination of fossil fuels for current power production. Additionally, excess heat from the nuclear reactor would be used to produce ethanol and methane from local crops and agricultural waste.

UniStar Nuclear Energy (http://www.unistarnuclear.com), a strategic joint venture between Constellation Energy and EDF, is powering the nuclear renaissance in North America through industry leadership, disciplined business practices and effective risk-management. Based in Baltimore, MD, UniStar Nuclear Energy provides the licensing, construction and operating services needed to support the expansion of clean, safe and sustainable nuclear energy in the United States.

Constellation Energy (http://www.constellation.com), a FORTUNE 125 company with 2006 revenues of $19.3 billion, is the nation's largest competitive supplier of electricity to large commercial and industrial customers and the nation's largest wholesale power seller. Constellation Energy also manages fuels and energy services on behalf of energy intensive industries and utilities. It owns a diversified fleet of 78 generating units located throughout the United States, totaling approximately 8,700 megawatts of generating capacity. The company delivers electricity and natural gas through the Baltimore Gas and Electric Company (BGE), its regulated utility in Central Maryland.

The EDF Group, one of the leaders in the energy market in Europe, is an energy specialist that is active in all the businesses of electricity: production, transport, distribution, energy supply and trading. The Group is the leading electricity producer in Europe. In France, it has mainly nuclear and hydraulic production facilities where 95 percent of the electricity output involves no CO2 emissions. EDF operates over 1,200,000 km of low and medium voltage overhead and underground electricity lines and around 100,000 km of high and very high voltage networks. The Group is involved in supplying energy and services to close to 40 million customers around the world, including more than 28 million in France. The Group generated consolidated sales of euro 58.9 billion in 2006, of which 42 percent was in Europe excluding France. Net income (Group share) stood at euro 5.6 billion, with net income from ordinary operations at euro 4.2 billion. EDF is listed on the Paris Stock Exchange and is a member of the CAC 40 index.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion should not be regarded as a representation that the objective and plans of AEHI will be achieved.

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