Cleanfield Alternative Energy Inc.

Cleanfield Alternative Energy Inc.

October 20, 2006 13:48 ET

Shareholders Confirm Acquisition of Cleanfield Alternative Energy Inc. Shares

TORONTO, ONTARIO--(CCNMatthews - Oct. 20, 2006) - Cleanfield Alternative Energy Inc. (TSX VENTURE:AIR) -

The following individuals would like to announce that they have acquired, as at September 15, 2006, an aggregate 10,088,973 common shares of Cleanfield Alternative Energy Inc. (the "Company"):

Percentage of Company
Shares Controlled
Shareholder Common Shares Acquired Directly and Indirectly
----------- ---------------------- ------------------------
Tony Verrelli 4,079,839 18.67%
Mihail Stern 3,004,567 13.76%
Alexander Trica 3,004,567 13.76%

Pursuant to the terms and conditions of a share exchange agreement among the Company, Cleanfield Energy Inc. ("Cleanfield") and the shareholders of Cleanfield dated February 16, 2006 and amended on April 1, 2006, the Company issued an aggregate of 11,000,000 common shares to the shareholders of Cleanfield

At the date of this release, neither of Messieurs Verrelli, Stern or Trica have any intention to increase their respective beneficial ownership, control or direction over securities of the Company. Each of Messieurs Verrelli, Stern or Trica have acted jointly or in concert with each other in connection with the acquisition of securities of the Company.

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