ALTER ENERGY GROUP ENGAGES ANEMONE GREEN CAPITAL

Alter Energy Group AG, Zurich, Switzerland
Wednesday, November 26, 2008 
 
ZURICH, SWITZERLAND - ALTER ENERGY GROUP AG announces it has formally engaged Anemone Green Capital (AGC) to manage the Kyoto Protocol process for its renewable energy projects.

AGC has started the Joint Implementation carbon credit process for the Smela co-generation / biomass production facility and the Kachanovka co-generation facility on behalf of AEG and its majority owned subsidiary Jugenergopromtrans (JEP).

Edward J. Klaeger IV, CEO of AEG states "The engagement of Anemone provides AEG the long term partner we need in Ukraine. The business ethics and track record of success of AGC combined with its resources make AGC a market leader in renewable energy in Ukraine. AGC has already opened significant new opportunities for AEG and we look forward to a long and successful relationship."

Hubert Wang Tose, Founder and Executive Director of AGC states "We are very excited about working with the AEG team in Ukraine. AEG brings the type of professionalism and expertise to the table that my company can build a long term relationship around, in the energy and carbon sectors. In the coming years we expect the synergisms to generate very exciting results."

About AEG: AEG is a Zurich based publicly traded company with operations in Ukraine. AEG is active in acquiring and making investments in Ukraine renewable energy generation companies and facilities and other energy infrastructure initiatives in Ukraine.

About AGC: AGC is a Hong Kong based environmental finance company specializing in the purchase of carbon credits under either the Kyoto Protocol or voluntary compliance schemes (www.anemonecap.com).

AGC is a joint venture partner with one of the largest oil and gas distributors in the world that currently holds more than 130 M tons of carbon credits in its portfolio. AGC has successfully completed 14 bundled small hydro projects in China and is a market leader for alternative energy project development in Ukraine.

SOURCE: ALTER ENERGY GROUP AG, Edward Klaeger +41 44 500 54 11 info@alterenergygroup.com. For more information please visit: www.alterenergygroup.com

LINK: http://www.forbes.com/businesswire/feeds/businesswire/2008/11/26/businesswire117085542.html

NOTE:  Anemone Green Capital Limited is a member of the U.S.-Ukraine Business Council (USUBC).  Jon McKee Queen is the Executive Director.
Executive Director, www.anemonecap.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, 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.