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Cleanfield Announces TSX Venture Exchange Approval for Share Issuance

October 23, 2008

Cleanfield Alternative Energy Inc. (TSX VENTURE: AIR) announces, after receiving TSX Venture Exchange (“Exchange”) approval, it issued 307,186 common shares at $1.00 per share to satisfy certain debt owing to eight creditors of its subsidiary, Cleanfield Energy Corp. All common shares issued are subject to a four-month Exchange hold period expiring February 17, 2009.

About Cleanfield Alternative Energy Inc.

Cleanfield Alternative Energy Inc. is the parent company of Cleanfield Energy Corp. and is committed to the development of renewable energy products for both consumer and commercial applications. Cleanfield’s tailor-made VAWT can be mounted on a tower or suitable rooftop, offering electricity independence and security.

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

 Contacts: Cleanfield Alternative Energy Inc. Tony Verrelli President/CEO (905) 304-5223 Email: info@cleanfieldenergy.com Website: www.cleanfieldenergy.com

SOURCE: Cleanfield Alternative Energy Inc.




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