Alter Energy Group AG
‘Alter Energy Group AG Signs New Acquisition’
Alter Energy Group AG / Acquisition/Letter of Intent Announcement, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- Zurich Switzerland – May 6, 2008: ALTER ENERGY GROUP AG (AEG) (Frankfurt Stock Exchange Ticker Symbol: 39f) announces that it has signed a Binding Letter of Intent (LOI) to acquire a majority interest in Jugenergopromtrans, Ltd (JEP). Under the terms of the LOI AEG will acquire 51% of JEP for 6,915,226 shares of AEG stock and JEP will appoint two members to the Board of Directors of AEG. JEP un-audited financial statements show 2 million EURO in revenue with 0.5 million EURO in net income for fiscal 2007. Under IAS AEG will consolidate 100% of the financial statements of JEP. AEG plans to retain Price Waterhouse to conduct the JEP audits. Kukovalskyy, Founder of JEP stated 'we are extremely pleased to be part of AEG. The acquisition will provide JEP with project development capital requirements and exposure to European and North American financial markets as well as creating greater shareholder value. We look forward to future acquisition opportunities with AEG and a long successful working relationship.' The AEG acquisition of JEP was structured by Swiss based Galileo Asset Management SA and New York based Spencer Clarke, LLC as joint exclusive Financial Advisors to AEG. About AEG: AEG is a Zurich based, publicly traded Swiss company active in acquiring Eastern European and CIS renewable energy generation companies as well as energy infrastructure transmission companies and related assets. About JEP: An AEG majority interest subsidiary, JEP is a profitable Ukrainian company that started operations in 2005. JEP currently owns and operates the Smela co-generation facility and plans to produce peat pellets for sale along with generation of the synthetic gas from peat pellets. JEP is in the process of expanding the Smela operations to become the first peat pellet manufacturing facility in Ukraine. About Galileo: Founded in 2003 in Lausanne, Galileo Asset Management is a registered Swiss Fiduciaries Intermediaries Member providing Asset Management, Corporate Finance and Investment Banking Advisory services. Galileo has been active in the Ukraine alternative energy sector since 2005. In cooperation with Swiss Equity Group, Galileo initiated the AEG listing on the Frankfurt Stock Exchange and manages related activities on behalf of the Company. For more information visit: www.galileoam.com About Spencer Clarke: Founded in 1997 in New York, Spencer Clarke is a FINRA licensed full service brokerage and investment-banking firm. It specializes in helping micro cap public and mid market private companies to position themselves for future growth. AEG retained Spencer Clarke in November 2007 to coordinate its Investment Banking requirements. Spencer Clarke maintains a comprehensive Alternative Energy and Clean Technology Practice. For more information visit: www.spencerclarke.com For additional information please visit www.alterenergygroup.com Contact: Investor Relations info@alterenergygroup.com Forward-Looking Statements Statements in this press release may constitute forward-looking statements and are subject to numerous risks and uncertainties, including the failure to successfully integrate JEP with the operations of AEG, the Company's current and future capital needs, the lack of market demand for any new or enhanced products the Company may develop, any actions by the Company's partners that may be adverse to the Company, the success of competitive products, other economic factors affecting the Company and its markets, and other risks. The actual results may differ materially from those contained in this press release. The Company disclaims any obligation to update any statements in this press release. 22.05.2008 Financial News transmitted by DGAP ----------------------------------------------------------------------
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