Cleanfield Announces Share Issuance

TORONTO, Oct. 21 /CNW/ - Cleanfield Alternative Energy Inc. (TSX-V: AIR) ("Cleanfield"), a leader in innovative sustainable energy technologies and building-integrated solutions, announces that, subject to TSX Venture Exchange ("Exchange") approval, it will issue 356,071 common shares at $0.14 per share to satisfy certain debt owing to an arm's length creditor of its subsidiary, Cleanfield Energy Corp., as a result of a previously signed "shares for services" agreement. The common shares will be issued when the Exchange's approval is received. All common shares issued will be subject to a four-month Exchange hold period when issued.

About Cleanfield: Cleanfield is an innovative technology company focused on the research, development and distribution of renewable energy solutions for the urban environment. It possesses industry leading, proprietary inverter technologies, which it currently sells through a complete solution - a 3.5 kW vertical axis wind turbine. Cleanfield turbines have been installed in over 50 locations worldwide. The Company's vision is to be recognized as an international cleantech industry leader in bringing high-quality and innovative sustainable energy solutions to the marketplace.

Forward Looking Statements: Certain statements in this news release may be considered to be forward-looking. These statements relate to future events or Cleanfield's future economic performance and reflect the current assumptions and expectations of management. Unknown factors may affect the events, economic performance and results of operations described herein. Cleanfield undertakes no obligation, and does not intend to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable law.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

For further information: Go to www.cleanfieldenergy.com, or contact Tony Verrelli, CEO, Cleanfield, [phone], [email protected]