Alternate Energy anticipates that on or about December 29, 2008, the company will change its name to Treaty Energy. Its ticker symbol will change from ARGY to a new symbol, and the reverse split of its common stock by a ratio of 8.032633-to-one will become effective. The merger is expected to significantly enhance the ability and timeline for Treaty to meet future development and expansion goals. Treaty has said that it will continue to progress with its ongoing development and enhanced recovery program with re-completion, infield drilling and/or stimulation activities of multiple wells on currently owned properties in the Permian Basin of West Texas.