Statement re. Suspension

2.00pm on 30 May 2012

Alternative Energy Limited

("Alternative Energy", "AEL" or the "Company")

Statement regarding Suspension

The Company is currently undertaking a number of key discussions in respect of transactions which may have a significant impact on the business, existing business initiatives being developed by, and financing of, the Company.

Pending confirmation of these arrangements, the Board is not in a position to release its interim statement for the six months ending 29 February 2012, which is required to be notified under the AIM Rules by no later than 31 May 2012. As a result of this, trading in the Company's Ordinary Shares on AIM is suspended with immediate effect, pending release of its interim financial statements.

ENDS

For further information, please contact:

Christopher Nightingale, Director +65 (6873) 7782

Richard Lascelles, Director +44 (0) 20 7408 1067

Beaumont Cornish Limited

Nominated Advisor and Broker

Roland Cornish and James Biddle +44 (0) 20 7628 3396