SOURCE: Alternate Energy Holdings, Inc.

July 15, 2008 09:15 ET

AEHI Forms Company to Virtually Eliminate Energy Costs for Homes and Small Businesses Using Renewables and Conservation Technology

BOISE, ID--(Marketwire - July 15, 2008) - Alternate Energy Holdings, Inc. (PINKSHEETS: AEHI) has announced the formation of Energy Neutral, Inc. Energy Neutral assists homeowners, businesses and farmers to reduce their electricity bills by operating with minimal or no reliance on the electrical grid. The company's primary service consists of evaluating homes, businesses or farms for conservation and renewable energy potential; drawing up a plan to attain or approach energy neutrality; and working with wind, conservation and solar suppliers to put the products in place. "Energy prices will never be as low as they were, so we think there will be great demand for this kind of service in residential, business and agricultural sectors," said Don Gillispie, CEO of parent company AEHI. "Federal and state-level incentives will pay for up to 40 percent of the costs of these systems." Solar and wind can be used to make properties energy independent or, for greater reliability, to augment existing electrical grid or gasoline generator setups. Investment depends on the current facility power demands for an existing structure, but when constructing a new building it always makes economic sense to essentially eliminate future energy costs.

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 the Idaho Energy Complex (www.idahoenergycomplex.com), bio-fuel generation, Energy Neutral, Inc. and International Reactors, Inc., which assists developing countries with nuclear reactors for power generation and production of potable water.

"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. Although AEHI believes that the assumptions underlying the forward-looking statements contained herein are reasonable, there can be no assurance that the forward-looking statements included in this press release will prove accurate. 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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