SOURCE: Alternate Energy Holdings, Inc.

March 18, 2008 10:54 ET

AEHI Forms New Company to Develop International Power Reactors Business

EAGLE, ID--(Marketwire - March 18, 2008) - Alternate Energy Holdings, Inc. (PINKSHEETS: AEHI) announced the formation of a new holding company, International Reactors, Inc. (IRI). IRI is a corporation formed to assist developing countries with power generation, as well as the production of potable water. By constructing commercial nuclear reactors on oceanfront sites, particularly in Latin American and western-friendly Middle Eastern countries, IRI seeks to co-generate clean energy and desalinated water. AEHI recognizes the growing need for reliable, affordable electricity in underdeveloped nations, and the company believes that the technology of advanced nuclear plants can be used to address these energy demands while simultaneously producing fresh water from ocean intake.

AEHI is currently in the early stages of drafting a memorandum of understanding between IRI and a developing country regarding the construction of an IRI advanced nuclear facility. President Don Gillispie comments, "We believe this clean, efficient, advanced technology should be available to all nations to help them develop without the pollution that typically accompanies the heavy use of fossil fuels."

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, potable water 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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