ALR Alternative E.

RNS Number:1384P
Alternative Energy Limited
03 March 2008


For immediate release                                               3 March 2008

ALTERNATIVE ENERGY LIMITED

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PROPOSED SHARE BUY-BACK MANDATE AND SHARE ISSUE MANDATE
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The Board of Directors of Alternative Energy Limited (the "Company") having been
advised that the Company currently does not have a mandate to purchase its own
shares, propose to seek shareholders' approval for authority to make purchases
from time to time of up to a maximum of 10% of the issued ordinary share capital
of the Company as at the date on which the resolution is to be passed, at any
price up to but not exceeding a maximum price (to be defined in the Circular to
be issued to shareholders) (the "Proposed Share Buy-Back Mandate").

The rationale for the Company to undertake the purchase or acquisition of its
shares is that the Proposed Share Buy-Back Mandate will give the Directors the
flexibility to purchase shares in the Company when circumstances permit, with
the objective of enhancing shareholder value. Such flexibility will also allow
the Directors to better manage the Company's capital structure and cash
reserves.

In addition, the Board is also seeking shareholders' approval for a mandate to
be given to the Directors to issue shares, make or grant offers, agreements or
options convertible into shares ("Instruments"), and to issue shares pursuant to
the Instruments (the "Proposed Share Issue Mandate"). The Directors believe that
the Proposed Share Issue Mandate will enable the Company to act quickly and take
advantage of market conditions, in issuing shares or Instruments, within
specified limits, and avoid the delay and the expense of otherwise having to
convene general meetings of the Company to approve each share issue or the
making or granting of each specific Instrument.

The Company is preparing to despatch a circular to shareholders in connection
with the above proposals at the earliest convenience.


ENDS


For further information, please contact:

Richard Lascelles, Director Tel: 020 7408 1067
Roland Cornish, Beaumont Cornish Limited Tel: 020 7628 3396




                      This information is provided by RNS
            The company news service from the London Stock Exchange

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