Alternate Energy Corporation : Value Of Assets Acquired.

Business Editors

LAS VEGAS--(BUSINESS WIRE)--July 18, 2003

Mr. Blaine Froats, Chairman of Alternate Energy Corporation (OTCBB: ARGY) today is pleased to announce that application of the AEC assets that were acquired by the new AEC in May of this year have a value of over USD $800 Million.

"Many of our investors have inquired about the nature and the value of the AEC assets recently acquired by the Company," said Mr. Froats. "These assets include patents and technologies for a more efficient method of converting waste heat to usable power in fossil fuel plants." Mr. Froats continued, "These technologies can be used to significantly increase power generation output by hydro plants and large industrial operations." Mr. Froats, further stated, "A third party consultant, The Bentley Group (Schenectady, NY), who specialize in valuation of business opportunities provided an opinion in September 2001, that the conservative value of applying these technologies in the North American market was approximately US $841 Million."

An engineering product application study is well underway.

Mr. Froats stated that this announcement along with previous announcements were made by the management of Coi Solutions Inc. but felt that they should be repeated for the benefit of our new shareholders.

About Alternate Energy Corporation (AEC)

Founded in March 2000, AEC owns patented technologies that enable electric utility companies and large multi-national industrial companies (petroleum, chemical, mining, steel, pulp and paper, manufacturing, etc.) to increase their power output by, in some cases, up to 50 % with significant decrease in cost. This is accomplished without increasing the amount of fossil fuel that is used, which provides two additional benefits: less dependency on imported fossil fuels and lower fossil fuel pollution levels. Both the cost and availability of fuel, and protecting the global environment are currently two of the highest profile issues on North American agendas. Our engineered systems are part of the solution and not part of the problem.

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 for the year ended Dec. 31, 2002, and subsequent Forms 10-QSB and 8-K. Actual results may differ materially from management's expectations.