Alternative Energy Partners, Inc.
OTC Bulletin Board : AEGY

Alternative Energy Partners, Inc.

February 25, 2011 14:46 ET

Alternative Energy Partners' (AEGY) Record Date for Dividend of OCTI Stock Has Been Extended to March 2

MERRITT ISLAND, FLORIDA--(Marketwire - Feb. 25, 2011) - Alternative Energy Partners, Inc. (OTCBB:AEGY) is pleased to announce that the record date for AEGY shareholders who will receive the planned distribution of shares of Octus, Inc. (OTCBB:OCTI) has been extended until March 2, 2011.

AEGY previously announced that it signed an Acquisition Agreement with OCTuS transferring its interest in Elan Energy Corporation and Sunarias to Octus ("OCTI") in exchange for 100 Million shares of OCTI's common stock to be distributed on a proportionate basis to shareholders of record of AEGY on February 25, 2011. That record date has been extended to March 2, 2011 to allow certain debt holders of AEGY to convert that debt into common shares, thereby reducing total liabilities of AEGY. Those AEGY shareholders, whose ownership is verified by the records of AEGY's transfer agent at the close of business on March 2, 2011, will be eligible for the stock dividend.

The actual distribution of the OCTI common shares will take place after the closing of the transaction on or before March 15, 2011, and after the articles of OCTI have been amended to authorize the additional common shares and the OCTI shares to be distributed have been registered with the SEC. The OCTI share distribution is expected to be between 9 and 10 shares of OCTI for every share of AEGY held, which, at the current price for OCTI shares of $0.04 per share, would represent between $0.36 to $0.40 per share of AEGY common stock.

About Alternative Energy Partners, Inc.

Alternative Energy Partners ("AEGY") is focused on sourcing, marketing and distributing renewable alternative energy solutions. AEGY's Xnergy is an award-winning engineering, construction, and alternative energy market leader based in Southern California (xnergy.com). AEGY includes Shovon, LLC (shovon.com), a provider of remote control energy management systems, and is also poised to enter the European alternative energy market through its Skynet Energy Systems, Inc. AEGY has also announced its intention to acquire Renewable Energy and Water (Renergyandwater.com) from Healthcare of Today. AEGY's goal is to offer a full portfolio of high-performance energy solutions for homes and businesses of all sizes. Alternative Energy Partners is publically traded on the NASDAQ OTC (OTCBB:AEGY). For more information about AEGY, please visit aenergypartners.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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