Alternate Energy Corp. Announces Management Changes.

Energy Editors/Business Editors

LAS VEGAS--(BUSINESS WIRE)--June 15, 2004

Alternate Energy Corporation (OTCBB: ARGY) announced management changes today. Corbee Dutchburn, formerly President and C.O.O. and Lyle Goodis, formerly Executive V.P. have fulfilled their interim contract positions assisting AEC with its initial phase of development. Dutchburn said: "We have very much enjoyed working with such a progressive company and now are paving the way for AEC to hire a complement of full time executives to serve as our replacements."

Chairman Blaine Froats will be assuming the role as President on an interim basis, and said "Both Dutchburn and Goodis' professionalism, strategic insight and hands-on management style were essential at the time and we sincerely appreciate all they did to help AEC throughout the early stage of the company's growth." Mr. Froats went on to say, "With a number of objectives having been achieved to date, we are now at a very exciting and important chapter in the further development and deployment of our hydrogen production technology."

About Alternate Energy Corporation (AEC; www.cleanwatts.com):

Alternate Energy Corporation (AEC) is energizing the hydrogen economy. AEC is the first company to provide a hydrogen device that has mass-deployment economics and provides small-scale, on-demand distributed generation of electricity. The device is deployable in 2004 and qualifies for Renewable Energy Certificates. AEC's proprietary discovery in metallurgy permits a small-scale unit to generate hydrogen from water through a "green" process at a fraction of the fossil fuel kWh cost of energy. AEC believes its product can have a revolutionary impact on the energy industry.

Statements herein express management's beliefs and expectations regarding future performance and are forward-looking and involve risks and uncertainties, including, but not limited to, the ability to negotiate outstanding prior debts of acquired companies; properly identify acquisition partners; adequately perform due diligence; manage and integrate acquired businesses; react to quarterly fluctuations in results; raise working capital and secure other financing; respond to competition and rapidly changing technology; deal with market and stock price fluctuations; and other risks. These risks are and will be detailed, from time to time, in ARGY's Securities and Exchange Commission filings, including Form 10-KSB 10-QSB and 8-K. Actual results may differ materially from management's expectations.