SOURCE: Clean Energy and Power, Inc.

October 19, 2010 10:06 ET

Clean Energy and Power Completes Deployment of Its Initial Solar Project in Czech Republic

Initial Solar Project Ready to Generate Revenue

WARWICK, RI--(Marketwire - October 19, 2010) -  Clean Energy and Power, Inc. (PINKSHEETS: KEPI) (www.cleanenergyandpower.com) announced today that it has completed construction and deployment of its initial solar project in the Czech Republic.

Dennis Shen, President of Clean Energy and Power said, "I am very happy with our installation in the Czech Republic. Construction went smoother than first anticipated and the site is currently up and running and generating electricity which is being fed into the power grid. We will continue further testing with the grid and once certification is completed we will update everyone with the results."

Erwin Vahlsing, CEO of Clean Energy and Power, went on to comment, "this is exciting news for us and our shareholders and our next step will be to begin reporting revenue. Mr. Shen just returned from the Czech Republic and will be posting photos on Clean Energy and Power's web site so that our shareholders can see for themselves the progress being made. Additional updates will be forthcoming."

In other company news, the audit is in its final stages and while we have anticipated the filings in the past and missed the projected dates, we should be posting the filings to the SEC's Edgar database before the end of the month. This has been a more complicated process due to the changes in management and the relocation of records which has led to added work verifying the activities of the past few years.

About Clean Energy and Power

The Company is focused on alternative energy opportunities. The Company is dedicated to acquiring fully developed environmental projects and putting them into production. www.cleanenergyandpower.com.

Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications that may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above. The Company cautions that these statements are further qualified by important factors that could cause actual results to differ materially from those in the forward looking statements, including, among others, the following: reduced or lack of increase in demand for the Company's products, competitive pricing pressures, and the level of expenses incurred in the Company's operations. The Company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.

Safe Harbor:
This press release includes forward-looking statements related to theglobe.com, inc. that involve risks and uncertainties, including, but not limited to, risks and uncertainties relating to integration of newly acquired businesses and assets, product delivery, product launch dates, risks relating to the Internet, development and protection of technology, the availability of financing or other capital to fund its plans and operations, the management of growth, market acceptance of our products, our ability to compete successfully against established competitors with greater resources, the uncertainty of future governmental regulation, pending litigation and other risks. These forward-looking statements are made in reliance on the ``Safe Harbor'' provisions of the Private Securities Litigation Reform Act of 1995. For further information about these and other factors that could affect Clean Energy and Power, Inc.'s future results and business plans, please see the Company's filings with the Securities and Exchange Commission, including in particular our Annual Report on Form 10-K for the year ended December 31, 2006, and our Quarterly Report on Form 10-Q for the quarter ended September 30, 2007. Copies of these filings are available online at http://www.sec.gov. Prospective investors are cautioned that forward-looking statements are not guarantees of performance. Actual results may differ materially and adversely from management expectations.

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