Cleanfield Completes Second Tranche of Prospectus Offering

NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED
STATES


Cleanfield Alternative Energy Inc. ("Cleanfield") (TSX VENTURE:AIR) announced
today that it completed the second tranche of the previously announced
prospectus offering (the "Offering") pursuant to a final short form prospectus
dated July 8, 2008 filed with the securities commissions in Ontario, British
Columbia and Alberta. The Offering is for a minimum of $1,000,000 and a maximum
of $1,500,000 principal amount of 12% senior secured convertible redeemable
debentures, Series B (the "Series B Debentures") and a maximum of $500,000 of
common shares. Wolverton Securities Ltd. (the "Agent") acted as the agent in the
Offering.


The first tranche closed on July 31, 2008 with a total of $1,225,100 principal
amount of the Series B Debentures sold. In the second tranche closing completed
today, an aggregate of $274,900 principal amount of the Series B Debentures were
sold. All Series B Debentures were issued pursuant to a trust indenture dated
July 31, 2008 between Cleanfield, Cleanfield Energy Corp. ("CEC"), the
wholly-owned operating subsidiary of Cleanfield, and Olympia Trust Company (the
"Trustee"). All Series B Debentures rank pari passu. The Series B Debentures
have a two-year term, bear interest of 12% per annum payable quarterly, and are
redeemable at Cleanfield's option without penalty or bonus upon 30 day prior
written notice. The Series B Debentures are secured by a general security from
Cleanfield in favour of the Trustee, a guarantee from CEC and a general security
from CEC in favour of the Trustee.


The principal amounts of the Series B Debentures issued today are convertible at
the holders' option into units of Cleanfield (the "Series B Units") at $1.00 per
Series B Unit until August 15, 2010, or the fifth business day before the
redemption of the Series B Debentures, whichever is earlier. Each Series B Unit
will be comprised of one common share of Cleanfield and one common share
purchase warrant (a "Series B Unit Warrant"). Each Series B Warrant will be
exercisable into one common share of Cleanfield at $1.00 until August 15, 2010.


In connection with the Offering, the Agent and its selling group members
received (i) a cash commission of 8% of the gross proceeds from the Series B
Debentures sold today, and (ii) compensation options to purchase an aggregate of
24,741 units of Cleanfield at $1.00 per unit until August 15, 2010, with each
unit consisting of one common share of Cleanfield and one common share purchase
warrant, with each warrant exercisable into one common share of Cleanfield at
$1.00 until August 15, 2010.


The net proceeds from the Offering will be used to build inventory of
Cleanfield's V3.5 modular vertical axis wind turbines and for working capital
and general corporate purposes.


Depending on market conditions, Cleanfield anticipates further closing(s) under
this Offering to sell up to a maximum of 625,000 common shares at $0.80 per
share.


This news release is not for distribution to United States newswire services or
for dissemination in the United States. The securities offered have not been
registered under the United States Securities Act of 1933, as amended, and may
not be offered or sold in the United States absent registration or an applicable
exemption from registration requirements.


FORWARD LOOKING STATEMENTS

Certain statements contained in this press release constitute forward-looking
statements. The use of any of the words "anticipate", "continue", "estimate",
"expect", "may", "will", "project", "should", "believe" and "confident" and
similar expressions are intended to identify forward-looking statements. The
Corporation believes that the expectations reflected in these forward-looking
statements are reasonable but no assurance can be given that these expectations
will prove to be correct and such forward-looking statements included in, or
incorporated by reference into, this press release should not be unduly relied
upon. These statements speak only as of the date of this press release. The
Corporation undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise.


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.
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