SOURCE: Alternate Energy Holdings, Inc.

November 17, 2006 09:15 ET

Alternate Energy Holdings Announces Development of Energy Saving Fuel Additive

ROANOKE, VA -- (MARKET WIRE) -- November 17, 2006 -- Alternate Energy Holdings (PINKSHEETS: AEHI) announced the successful development of an economical and environmentally friendly fuel additive that will reduce the cost of natural gas energy production by 25% to 40%. Not only will this project affect electricity production by gas turbines, but the additive is projected to be able to burn in gas heaters, used in over 50% of US homes, with no further modifications. Current project focus is on patent process completion and the acquisition of further gas heater test data for publication and marketing. For more information on fuel additives and other green energy projects, please visit the Research & Development department on the AEHI website.

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 nuclear construction, 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. Although Alternate Energy Holdings, Inc. believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any assumption could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion should not be regarded as a representation by Alternate Energy Holdings, Inc. or any other person that the objective and plans of Alternate Energy Holdings will be achieved.

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