SOURCE: Alternate Energy Holdings, Inc.

December 06, 2007 09:15 ET

AEHI Receives $150 Million Private Placement Commitment Letter for Idaho Nuclear Reactor Project

BOISE, ID--(Marketwire - December 6, 2007) - Alternate Energy Holdings, Inc. (PINKSHEETS: AEHI), a holding company for the Idaho Energy Complex Corporation, announced its December 5, 2007 receipt of a $150 million commitment letter from Silverleaf Capital Partners, LLC, Salt Lake, Utah. The letter is in reference to AEHI's Reactor Land Development LLC private placement memorandum for the Idaho Energy Complex's Unit 1 reactor, and closing is expected by year's end. AEHI will allocate these funds for the purchase of the nuclear plant site, large forgings, and the engineering and environmental work necessary to obtain Nuclear Regulatory Commission (NRC) approval for the construction and operation of the new nuclear plant. CEO Don Gillispie comments, "This provides the initial funding to launch an important project for Idaho and western energy needs. We are now able to accept large equity investors wanting to become minority owners in the west's only large, base-load power plant."

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.

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.

"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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