Jiangbo Pharmaceuticals, Inc.(fka JGBO)

[McCorry]

Alternate Energy Corporation Signs Contract With Genesis Technology Group


LAS VEGAS, NEVADA, Jun 30, 2003 (CCNMatthews via COMTEX) -- Mr. Blaine Froats,
Chairman of Alternate Energy Corporation (OTCBB: ARGY) today announced a
contract with Genesis Technology Group, Inc. (OTCBB: GTEC). Genesis is the first
US-based Trust Member of the Shanghai Technology Stock Exchange.

Genesis will assist ARGY in fundraising and establish China initiatives for
technology transfer and licensing. Alternate Energy Corporation's (AEC) patented
technologies provide increased power by reclaiming heat energy that is typically
lost to the environment when producing electric power and reducing the cost. AEC
technologies can enable the North American electric utility industry to produce
more power (potentially, AEC can increase their output by up to 50% from their
sales base of $306 Billion in 1999) without changing the industry's current
level of operating costs. AEC plans to collect a percentage of the new revenues
generated by these utilities.

Dr. Wang President said, "China is taking measures to promote energy
conservation technologies to meet a tremendous demand for high-quality energy.
China's annual consumption of coal, which accounts for 76 percent of the
country's total energy resources for commercial use, is expected to triple by
2020, along with a rapid increase in the use of petroleum products."

About Alternate Energy Corporation (AEC)

AEC owns patented technologies that enable electric utility companies and large
multi-national industrial companies (petroleum, chemical, mining, steel, pulp
and paper, manufacturing, etc.) to increase their power output in some cases by
up to 50% with significant decrease in cost. This is accomplished without
increasing the amount of fossil fuel that is used, which provides two additional
benefits: less dependency on imported fossil fuels and lower fossil fuel
pollution levels. Both the cost and availability of fuel, and protecting the
global environment are currently two of the highest profile issues on North
American agendas.

About Genesis Technology Group, Inc.

Genesis Technology Group is a business development firm that fosters bilateral
commerce between companies in the United States and Europe with those in China.
Genesis has created successful profit centers in product development,
manufacturing, distribution, joint ventures and operational services. Genesis
has established effective working relationships with various governmental
agencies, public institutions, and private industries in China at both national
and provincial levels. For more information, visit
http://www.genesis-technology.net.

Statements herein express management's beliefs and expectations regarding future
performance and are forward-looking and involve risks and uncertainties,
including, but not limited to, the ability to negotiate outstanding prior debts
of acquired companies; properly identify acquisition partners; adequately
perform due diligence; manage and integrate acquired businesses; react to
quarterly fluctuations in results; raise working capital and secure other
financing; respond to competition and rapidly changing technology; deal with
market and stock price fluctuations; and other risks. These risks are and will
be detailed, from time to time, in ARGY's Securities and Exchange Commission
filings, including Form 10-KSB for the year ended Dec. 31, 2002, and subsequent
Forms 10-QSB and 8-K. Actual results may differ materially from management's
expectations.