SOURCE: ALTERNATE ENERGY CORPORATON

September 14, 2007 14:10 ET

Alternate Energy Corp. to File "Amended" Form 10-QSB for Q2-2007

Company's Original Filing of Form 10-QSB for Q2 Was Incomplete, Lacking the Auditor's Review; The Amended and "Complete" Form 10-QSB/A to Be Filed by September 21st, Resulting in Removal of the "E" From Its Symbol

BURLINGTON, ON--(Marketwire - September 14, 2007) - Alternate Energy Corp. (OTCBB: ARGY), an emerging leader in the commercialization of economically viable and environmentally responsible hydrogen solutions, announced today that it would be filing an "Amended" Form 10-QSB for the second quarter of 2007 by the end of next week, September 21st. The "E" that was appended to its trading symbol will then be removed.

The original Form 10-QSB filing was made on a timely basis, but was determined to be incomplete due to the lack of the auditor's review. This situation is now being remedied, such that the amended 10-QSB is expected to be filed by the end of next week, well within the grace period provided.

About Alternate Energy Corporation (AEC; www.cleanwatts.com)

Alternate Energy Corporation (AEC) is the emerging leader in the commercialization of economically viable and environmentally responsible hydrogen solutions. AEC's patent pending hydrogen production process cleverly produces pure hydrogen alongside premium commercial chemicals, all of which enjoy established global markets. The company's on-site solution offers affordable bulk hydrogen to its customers as a reliable alternative to delivered (tube trailer) hydrogen, at a significantly reduced price. AEC's patent pending process sets itself apart from all other traditional forms of hydrogen production by avoiding the use of fossil fuels, therefore not contributing to harmful greenhouse gas emissions. AEC believes its novel technology and pioneering business model can have a revolutionary impact on a wide range of global industries.

Forward-Looking Statements:

Statements herein express management's beliefs and expectations regarding future performance and are forward-looking and involve risks and uncertainties, including, but not limited to, raising working capital and securing other financing; responding to competition and rapidly changing technology; and other risks. These risks are detailed in AEC's filings with the Securities and Exchange Commission, including Forms SB-2, 10-KSB, 10-QSB and 8-K. Actual results may differ materially from such forward looking statements.

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