SOURCE: Alternate Energy Holdings, Inc.

October 11, 2006 09:15 ET

Alternate Energy Holdings Announces Development of Lightning Into Electricity Technology

ROANOKE, VA -- (MARKET WIRE) -- October 11, 2006 -- Alternate Energy Holdings (PINKSHEETS: AEHI), announced the successful development of a model prototype to demonstrate the 'capturing' capabilities of AEHI's marketable lightning farm technology. By collecting power from the ground area surrounding a lightning strike and converting it into usable electricity to be sold through existing power grids, AEHI is able to harness the natural energy delivered in a bolt of lightning. Lightning harvesting is a clean energy solution that will not only eliminate numerous environmental hazards associated with the energy industry it will also significantly reduce the costliness of power production. When amortized over 4-7 years, a lightning farm will be able to produce and sell electricity for as low as $0.005 per kilowatt hour, thus significantly undercutting the current production costs of its competing energy sources.

Current project focus is on the development of a mobile full-scale lightning farm to be tested during the upcoming peak lightning season. For more information on lightning harvesting and other green energy projects, please visit AEHI Research & Development or contact the department at research@alternateenergyholdings.com.

"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. Investors are cautioned that all forward-looking statements involve risks and uncertainties. Although Alternate Energy Holdings, Inc. believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any assumption could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion should not be regarded as a representation by Alternate Energy Holdings, Inc. or any other person that the objective and plans of Alternate Energy Holdings will be achieved.

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