SOURCE: Alternate Energy Holdings, Inc.

October 11, 2007 09:15 ET

Alternate Energy Holdings, Inc. Plans Buyback of Up to 1 Million Shares

LYNCHBURG, VA--(Marketwire - October 11, 2007) - Alternate Energy Holdings, Inc. (PINKSHEETS: AEHI) announced that the company's Board of Directors approved a plan to repurchase up to 1 million shares of its outstanding common stock in order to take advantage of the undervalued market price. "With electricity demand expected to increase by almost 50% in the next 25 years," AEHI management states, "we understand the value of an emerging growth energy stock in an environment with growing demand, and we believe this repurchase plan to be an excellent investment for the company." The repurchase plan has no set termination date, and the shares will be bought back over time.

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.

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

Alternate Energy Holdings 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.

"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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