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TheStreet Open House

Alternate Energy Holdings, Inc. Announces First Revenues

BOISE, Idaho, March 23, 2011 (GLOBE NEWSWIRE) -- Alternate Energy Holdings, Inc. (OTCQB:AEHI) ( www.aehipower.com ), a developer and marketer of innovative clean energy sources based in Eagle, ID, today announced its first revenues with the sale of two houses through its subsidiary Energy Neutral(R) ( www.energyneutralinc.com ). The sales generated approximately $450,000 of gross revenues for AEHI.

"It is a big milestone for AEHI and Energy Neutral to begin producing revenues, but it also proves that we can build energy-efficient power-producing homes at a price that people can afford," said Don Gillispie, AEHI CEO.

One of the newly-sold Energy Neutral homes was built in the Panther Creek subdivision of West Boise, Idaho, and is one of five homes in the same neighborhood which was designed to conserve electricity through energy-efficient construction methods and appliances.

The second house, which resides on Scotfield Court in Boise, was built as the first Energy Neutral model home to meet stringent energy-efficient standards, but also produces more electricity than it consumes during most days through a series of low-profile solar panels.

The Energy Neural pilot home on Scotfield Court was developed as a model home for demonstrating the concept and advertising, so it was not profitable as anticipated. The second home sold in Panther Creek made a reasonable profit.

"In addition to the sale of these two energy efficient homes, the remaining Energy Neutral homes in Panther Creek continue to host steady traffic from interested parties, further supporting our continued effort for additional sales opportunities," said Gillispie.

A bout Alternate Energy Holdings, Inc. ( http://www.AlternateEnergyHoldings.com ) -- Alternate Energy Holdings develops and markets innovative clean energy sources. The company is the nation's only independent nuclear power plant developer seeking to build new power plants in multiple non-nuclear states; Idaho Energy Complex is the first project. Other business units include Energy Neutral(R), which reduces energy demands for homes and businesses ( http://www.EnergyNeutralinc.com ), and Green World Water(TM), which assists developing countries with nuclear reactors for production of potable water, power generation and other suitable applications ( http://www.GreenWorld-H2O.com ).

The Alternate Energy Holdings, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8058 .

Safe Harbor Statement: This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The words "believe," "expect," "anticipate," "project," "target," "optimistic," "intend," "aim," "will" or similar expressions are intended to identify forward-looking statements. Such statements include, among others, those concerning our expected financial performance and strategic and operational plans, as well as all assumptions, expectations, predictions, intentions or beliefs about future events, including our ability to list on a national securities exchange. These statements are based on the beliefs of our management as well as assumptions made by and information currently available to us and reflect our current view concerning future events. As such, they are subject to risks and uncertainties that could cause our results to differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, among many others: our significant operating losses; our limited operating history; uncertainty of capital resources; the speculative nature of our business; our ability to successfully implement new strategies; present and possible future governmental regulations; operating hazards; competition; the loss of key personnel; any of the factors in the "Risk Factors" section of our Annual Report on Form 10-K for the most recently completed fiscal year; and any statements of assumptions underlying any of the foregoing. You should also carefully review the reports that we file with the SEC. We assume no obligation, and do not intend, to update these forward-looking statements, except as required by law.

CONTACT: Investor Relations Firm:
         Stephen D. Axelrod, CFA
         Wolfe Axelrod Weinberger Associates, LLC.
         317 Madison Avenue, Suite 515
         New York, NY 10017
         Tel: 212-370-4500
         E-mail: steve@wolfeaxelrod.com
         
         Media:
         Dan Hamilton
         Director of Corporate Communications
         Alternate Energy Holdings, Inc.
         Tel: (208) 939-9311
         E-mail: dan@aehipower.com

Alternate Energy Holdings, Inc. Logo

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