General update

For immediate release 20 December 2013

ALTERNATIVE ENERGY LIMITED

("Company")

UPDATE

The board of the Company ("Board") notes that trading in the shares of the Company was suspended on 1st October 2013 pending release of the Company's interim financial statements for the period to 30 June 2013.

The Company is currently undertaking a number of negotiations which may result in further operational transactions as well as the raising of additional capital.

The Company is currently still working with its partners in Indonesia and elsewhere to generate revenues from the projects previously announced, although these have been delayed by factors outside the control of the Company and its partners. The Company is also actively pursuing additional projects and will provide additional information in its forthcoming announcement.

The Board anticipates that a further announcement will be made in respect of the Company's operational and fundraising transactions early in the New Year following the holiday period and that suspension of trading in the Company's shares will be lifted shortly thereafter following the release of the outstanding interims.

ENDS

About Alternative Energy Limited

Alternative Energy Limited is headquartered in Singapore. Through its team of Singapore based engineers, the Company has developed a number of technologies including its patented roof based energy system, the eRoof. The Company is now producing its third generation eRoof for commercial roll out this year. The Company is also developing a number of energy saving technologies designed to reduce power consumption, led by its LED lighting systems, which will combine with its energy generation systems to enable the creation of energy self sufficient buildings.

'NOW THE WORLD HAS AN ALTERNATIVE' TM

For further information please see the Company's website: www.alternativenergy.com.sg or please contact:

Richard Lascelles, Independent Non-executive Director Tel: 020 7408 1067

Roland Cornish and Emily Staples, Beaumont Cornish Limited Tel: 020 7628 3396

Eric Goh, Executive Director Tel: +65 68737782