CybeRelease: (OTC BB: ARGY) Updates Shareholders on Business Developments

(CybeRelease, July 21, 2006) - Alternate Energy Corporation (AEC) (OTC BB: ARGY), a company that is focused on the commercialization of its hydrogen production technology to multiple markets, today issued a progress and activities update to its shareholders.

In November of 2005, AEC announced that it had a breakthrough in its hydrogen production process technology, and was now able to produce a saleable commodity chemical product that came as a by-product of its hydrogen process, thus leading to the filing of a provisional patent on a new production process.

Then, in March of this year, as a result of AEC’s continuing technology development efforts, the Company announced that it could now produce a second commercially saleable commodity chemical product that when combined with the first, is expected to open up a multi-billion dollar worldwide market to the Company. The Company now anticipates that with further development of its technology it will likely be able to produce additional commodity chemical products for world markets as its process generates pure hydrogen for various applications.

For more information, go to http://www.OTCReporter.com

To read the entire release, go to http://biz.yahoo.com/iw/060720/0145915.html

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