AEHI Forms Company to Virtually Eliminate Energy Costs for Homes and Small Businesses Using Renewables and Conservation

BOISE, ID, Jul 15 (MARKET WIRE) --
Alternate Energy Holdings, Inc. (PINKSHEETS: AEHI) has announced the
formation of Energy Neutral, Inc. Energy Neutral assists homeowners,
businesses and farmers to reduce their electricity bills by operating
with minimal or no reliance on the electrical grid. The company's primary
service consists of evaluating homes, businesses or farms for
conservation and renewable energy potential; drawing up a plan to attain
or approach energy neutrality; and working with wind, conservation and
solar suppliers to put the products in place. "Energy prices will never
be as low as they were, so we think there will be great demand for this
kind of service in residential, business and agricultural sectors," said
Don Gillispie, CEO of parent company AEHI. "Federal and state-level
incentives will pay for up to 40 percent of the costs of these systems."
Solar and wind can be used to make properties energy independent or, for
greater reliability, to augment existing electrical grid or gasoline
generator setups. Investment depends on the current facility power demands
for an existing structure, but when constructing a new building it always
makes economic sense to essentially eliminate future energy costs.

About Alternate Energy Holdings, Inc. (www.alternateenergyholdings.com)

Alternate Energy Holdings actively acquires private green energy
companies, as well as develops and markets innovative clean energy
sources. Current projects include the Idaho Energy Complex
(www.idahoenergycomplex.com), bio-fuel generation, Energy Neutral, Inc.
and International Reactors, Inc., which assists developing countries with
nuclear reactors for power generation and production of potable water.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act
of 1995: This press release may contain certain forward-looking statements
within the meaning of Section 27A of the Securities and Exchange Act of
1933, as amended, and Section 21E of the Securities and Exchange Act of
1934, as amended, which are intended to be covered by the safe harbors
created thereby. Although AEHI believes that the assumptions underlying
the forward-looking statements contained herein are reasonable, there can
be no assurance that the forward-looking statements included in this press
release will prove accurate. In light of the significant uncertainties
inherent in the forward-looking statements included herein, the inclusion
should not be regarded as a representation that the objective and plans of
AEHI will be achieved.

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