SOURCE: Alternate Energy Holdings, Inc.

July 11, 2007 09:15 ET

Alternate Energy Holdings (AEHI) Board Elects President and CEO Don Gillispie Chairman

LYNCHBURG, VA--(Marketwire - July 11, 2007) - Alternate Energy Holdings (PINKSHEETS: AEHI) announced the election of Don Gillispie, President and CEO of AEHI, as Chairman of the Board. Current Chairman Leon Eliason will remain on the Board, and Mr. Gillispie states, "Leon has done an outstanding job guiding the company through its early stages and will continue to provide senior advice." All current Board members -- Leon Eliason, John Franz, Ralph Beedle, Greg Kane, James Taylor, and Ken Strahm, Sr. -- have been re-elected to serve another term. Board member John Franz comments: "Mr. Gillispie, founder of AEHI, has had a distinguished career in the U.S. Navy and in the American Nuclear Industry, including serving as Senior Vice President with the Institute of Nuclear Power Operations. The AEHI Board is well pleased with the election of Mr. Gillispie as its Chairman."

About Idaho Energy Complex Corporation (www.idahoenergycomplex.com)

The Idaho Energy Complex, a holding of AEHI, is a proposed 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.

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, a safe and effective system for removing carbon dioxide from coal and natural gas plants emissions, and marketable lightning harvesting technology for electricity production.

"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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