SOURCE: Alternate Energy Holdings, Inc.

August 14, 2008 10:56 ET

AEHI Submits Rezone Application for Idaho Energy Complex Nuclear Plant

BOISE, ID--(Marketwire - August 14, 2008) - Alternate Energy Holdings, Inc. (PINKSHEETS: AEHI) has submitted an application to Elmore County to rezone 1,400 acres of land from agricultural to industrial, a crucial first step to developing the Idaho Energy Complex (IEC). The IEC (www.idahoenergycomplex.com) is a proposed 1,600-megawatt third-generation advanced nuclear reactor to be located about 65 miles southwest of Boise. "This rezone application is a key step that must be taken to add another profitable, stable industry to Elmore County and to add a plentiful, safe and reliable power source for Idaho and our nation," said Don Gillispie, president and CEO of AEHI. After the rezone is granted, the company's next step will be to submit a Conditional Use Permit application to the county and a Combined Construction and Operating License Application (COLA) to the Nuclear Regulatory Commission. AEHI is currently in due diligence with Powered Corp. of Houston, TX, to form a new operating company to build and operate the Idaho reactor.

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, bio-fuel generation, energy-neutral home and business technology (www.energyneutralinc.com) 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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