Alternative Energy Partners, Inc.
OTC Bulletin Board : AEGY

Alternative Energy Partners, Inc.

November 23, 2010 09:16 ET

Alternative Energy Partners (AEGY) Receives FINRA Approval; Reverse Split to Take Effect November 24

MERRITT ISLAND, FLORIDA--(Marketwire - Nov. 23, 2010) - Alternative Energy Partners (OTCBB:AEGY), a provider of comprehensive alternative energy solutions, today announces that it has received FINRA approval for a reverse split (1:50) that will be effective November 24, 2010. As a result of this announcement, the stock symbol will be changed temporarily to AEGYD for a period of 20 business days after November 24, 2010.

Earlier this month, Alternative Energy Partners ("AEGY") was notified that a small group of its shareholders, who acquired shares before control of the company was acquired by AEGY's parent company, Healthcare of Today, Inc., had engaged a German brokerage firm to list its common shares on the Berlin Open Market. AEGY was not involved in this activity and immediately took steps to protect shareholders against these "shorters" who, it appeared, were taking aggressive steps to devalue the price of the stock. AEGY immediately filed for, and obtained, a new CUSIP number for its common shares and approved the 1 for 50 reverse split of its common stock in parallel with a similar reduction in its authorized common shares.

Pursuant to the reverse split, the company will replace outstanding shares with new common share certificates with the new CUSIP number, on the basis of one new common share for each fifty common shares previously held, with any fractional shares rounded to the nearest whole number. Existing shareholders are requested to return outstanding share certificates for new certificates as soon as possible. The old shares with the former CUSIP number can no longer be traded after November 24.

As stated in an open letter to shareholders that appeared on November 8, 2010 on its website (www.AEGYPartners.com), the reverse split should not change the economic value of any shareholder's stake in the company, but will help the company counter the recent disruptive stock activity. In addition to protecting against illegal shorting, the reverse split should move AEGY a step closer to listing its shares on the NASDAQ Capital Markets platform.

About Alternative Energy Partners, Inc.

Alternative Energy Partners ("AEGY") is focused on sourcing, marketing and distributing renewable alternative energy solutions. AEGY's family of businesses includes: Xnergy (www.xnergy.com), an Energy Services Company, construction and engineering firm; Sunarias™ Corporation (www.sunarias.com), provider of on-site solar-thermal energy systems; Shovon, LLC (www.shovon.com), a developer of remote control energy management systems; and Skynet Energy Systems, Inc., through which it is poised to enter the European alternative energy market. Élan Energy, another wholly-owned subsidiary of AEGY, has acquired R.L.P. Mechanical Contractors, Inc. Alternative Energy Partners is publicly traded on the NASDAQ OTC (OTCBB:AEGY). For more information please visit www.AEGYPartners.com.

FORWARD LOOKING STATEMENT

This announcement is not an offer to sell any Alternative Energy Partners ("AEGY") securities. Offers for any given security are made only through applicable offering circulars and related documents filed with the SEC pursuant to the Securities Act of 1933 or the Securities Exchange Act of 1934. Certain statements contained herein and subsequent oral statements made by and on behalf of AEGY may contain "forward looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward looking statements are identified by words such as "intends", "anticipates", "believes", "expects", and "hopes" and includes, without limitation, statements regarding AEGY's plan of business operations, product research and development activities, anticipated revenues and expenses and potential contractual arrangements and obligations. Forward-looking statements speak only as of the date of the document/oral statement in which it was made. In making any such statements, the person making them believes that his expectations are based on reasonable assumptions; however, any such statement may be influenced by factors that could cause actual outcomes and results to be materially different from those projected or anticipated. These forward-looking statements are subject to numerous risks and uncertainties. There are various important factors that could cause actual results to differ materially from those in any such forward-looking statements and are mostly out of the company's control. Among these are: general economic conditions, receipt of additional working capital, and acceptability of the company's products in the marketplace as well as other factors set forth in the company's SEC filings. AEGY disclaims any intent or obligation to publicly update these forward-looking statements, whether as a result of new information, future events or otherwise.

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