updated 5/17/2011 7:46:08 AM ET 2011-05-17T11:46:08

BOISE, Idaho, May 17, 2011 (GLOBE NEWSWIRE) -- Alternate Energy Holdings, Inc. (OTCQB:AEHI) (www.aehipower.com) announced today that AEHI subsidiary Green World Water(TM) has been invited as one of just 30 companies to travel to Algeria to discuss potential partnerships with high-ranking government officials and international industrialists in Algiers and Oran. The trip is part of the U.S. Algeria Business Council, of which Green World Water has been a member since 2010.

The 30 companies attending the trade mission will include representatives from U.S. companies in the hydraulics, construction and housing, energy, information communication technology, food, transportation, and technology services for defense sectors.

"This is a great opportunity for Green World Water to demonstrate the benefits of implementing its nuclear desalination system, which can create large amounts of clean water and carbon-free power simultaneously. As a young, developing country, Algeria is looking to find responsible methods of addressing issues related to water and power and I believe Green World Water can be a tremendous resource," said Don Gillispie, AEHI CEO.

Some of the government offices scheduled to meet with Green World Water include the Ministry of Industry and Investment, the Ministry of Water Resources, the Ministry of Housing, and the Ministry of Health, the Ministry of Energy & Mines, the Ministry of Post & Telecom, the Ministry of Transportation and the Ministry of Finance.

The trip is scheduled for May 22nd - May 27th, 2011.

Green World Water is also actively pursuing opportunities in India, Nigeria and Bangladesh.

About Green World Water(TM) (http://www.greenworld-h2o.com) -- A wholly-owned subsidiary of Alternate Energy Holdings, Inc. (AEHI), Green World Water is operated by a group of people with nearly 200 combined-years in the nuclear industry.

Using that experience, AEHI CEO Don Gillispie helped design the first commercially available nuclear desalination system with the capacity, affordability and necessary safety standards to bring large amounts of clean water and clean power to any environment. The system is built by China National Nuclear Corporation for GWW.

About U.S.-Algeria Business Council (http://www.us-algeria.org) -- In 2008 the U.S.-Algeria trade volume expanded to record levels at US$21 billion dollars. The U.S.-Algeria Business Council (USABC) works on both sides of the trade equation. Founded in 2002 by a group of U.S. Fortune 500 companies and their Algerian counterparts, the mission of the USABC is to promote positive U.S.-Algeria commercial relations through the expansion and diversification of bilateral trade.

Since its creation, the USABC membership has more than tripled in size to include U.S. and Algerian companies of all sizes active in nearly all industrial sectors. Today the USABC is the leading bilateral, non-profit, independently funded, non-governmental business association active in U.S.-Algeria trade.

About Alternate Energy Holdings, Inc. (http://www.aehipower.com) -- Alternate Energy Holdings develops and markets innovative carbon-free 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 lead 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: Statements in this press release which are not purely historical, including statements regarding Alternative Energy Holdings', intentions, hopes, beliefs, expectations, representations, projections, plans or predictions of the future are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. 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 establish a business partnership in Algeria or Green World Water's ability to generate revenues. 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
         Dan Hamilton
         Director of Corporate Communications
         Alternate Energy Holdings, Inc.
         Tel: (208) 939-9311
         E-mail: dan@aehipower.com

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