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AEHI Expects to Close Deal to Import Korean Reactors in Early 2010

^{Published on 2010-01-04 06:40:10 - Market Wire}
 

BOISE, ID--(Marketwire - January 4, 2010) - Alternate Energy Holdings, Inc. (PINKSHEETS: [ AEHI ]): Don Gillispie, AEHI's CEO, left today for Seoul to finalize negotiations with Korean Electric Power Company, KEPCO, to import the South Korean's advanced reactor, APR 1400, for its Idaho and Colorado sites.

Don Gillispie noted, "We expect the agreement to be similar to the UAE agreement announced last week, such technology should give AEHI a serious competitive advantage."

The Economist magazine reported on December 30, 2009, "Competition for the (UAE) contract had been stiff. GE and Hitachi, two engineering giants, had launched a joint bid, as had a consortium led by France's nuclear champion, AREVA. ... But the chief allure of the Korean bid was price. It was reportedly billions of dollars cheaper than the others."

AEHI executives traveled to Korea about a year ago presenting to KEPCO and key government leaders regarding the financial benefits of exporting their advanced reactor.

Gillispie said, "We are pleased to have played a small part in encouraging the Koreans to export their superior reactor and now we would like to complete our negotiations to bring the APR 1400 into the US for the first time including helping achieve NRC design certification."

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

Alternate Energy Holdings develops and markets innovative clean energy sources. The company is the nation's only publicly traded independent nuclear power plant developer willing to build power plants in non-nuclear states. Other projects include, Energy Neutral which removes energy demands from homes and businesses ([ www.energyneutralinc.com ]), Colorado Energy Park (nuclear and solar generation), and International Reactors, which assists developing countries with nuclear reactors for power generation, production of potable water and other suitable applications. AEHI China, headquartered in Beijing, develops joint ventures to produce nuclear plant components and consults on nuclear power. AEHI Korea, Seoul, is helping negotiate with KEPCO.

"Safe Harbor" Statement: This press release may contain certain forward-looking statements within the meaning of Sections 27A & 21E of the amended Securities and Exchange Acts of 1933-34, 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 these statements included in this press release will prove accurate. As a result, investors should not place undue reliance on these forward-looking statements.