SOURCE: Alternate Energy Holdings, Inc.

December 05, 2006 09:15 ET

Alternate Energy Holdings (AEHI) Announces Letter of Intent to Construct New Nuclear Plant

ROANOKE, VA -- (MARKET WIRE) -- December 5, 2006 -- Alternate Energy Holdings (PINKSHEETS: AEHI) announced a letter of intent, signed December 1, 2006, to construct, own, and operate a nuclear power plant near Bruneau, Idaho. The proposed 1500 Megawatt light water reactor will provide much needed electricity for local farm co-op irrigation, while the majority of the power produced will be sold in the national energy market to help address west coast power supply challenges. When completed, this will be Idaho's first large commercial nuclear plant and only the second one in the region. After approval of the plant site and design/development preparation, the modular design can be completed in approximately 36 months -- placing AEHI at the forefront of nuclear construction in the United States.

President and CEO Don Gillispie states, "This is a huge step for an emerging growth company. We have been working diligently for months developing a plan to enter the operating market, and Idaho is a wonderful opportunity for us to begin fulfilling our corporate vision." The company announced its business strategy, which includes a project along these lines, early in the year and expects a binding agreement executed early in 2007 followed by plant construction in early 2008.

About Alternate Energy Holdings, Inc.

Alternate Energy Holdings actively develops and markets innovative clean energy sources to reduce dependence on foreign energy sources. Current projects include an economical and environmentally friendly fuel additive that will reduce the cost of natural gas energy production by 25% to 40%, marketable lightning harvesting technology for electricity production, coal to diesel fuel conversion, carbon dioxide removal from gas turbine exhaust, and urban mini-reactors for safe, compact power generation

"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. Investors are cautioned that all forward-looking statements involve risks and uncertainties.

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