Optionable Inc Selects Allen & Caron For Corporate Communications, Investor And Media Relations

OPTIONABLE INC SELECTS ALLEN & CARON
FOR CORPORATE COMMUNICATIONS, INVESTOR AND MEDIA RELATIONS


Briarcliff Manor, NY (October 23, 2006) … Optionable, Inc (OTCBB: OPBL), a leading provider of natural gas and other energy derivatives brokerage services, has chosen Irvine, CA-based Allen & Caron Inc as its investor relations and corporate communications agency. Allen & Caron will work with Optionable to broaden its awareness among targeted energy and financial audiences, as Optionable prepares to move forward with its automated derivatives trading platform.

Kevin Cassidy, Chief Executive Officer of Optionable commented, “We have selected Allen & Caron due to their experience and ability to assist us in properly positioning the Company and increasing our visibility within the investment community. Allen & Caron will help us in the dissemination of corporate information to the investment community, as well as to industry and financial media.”

Joseph Allen, Allen & Caron Chairman and CEO, said, “We believe Optionable will present a compelling story to Wall Street professionals. This is a company that has posted exceptional growth and earnings, yet has largely remained under the radar screens of the investment community. We look forward to working with them and introducing them to a broader audience, among investors and the media.”

About Optionable
Optionable, Inc. is a leading provider of natural gas and other energy derivatives trading and brokerage services, headquartered in Briarcliff Manor, NY. The company provides its services to brokerage firms, financial institutions, energy traders and hedge funds nationwide. In addition to the traditional voice brokerage business, Optionable is developing an automated derivatives trading platform. OPEX is a real-time electronic trade matching and brokerage system designed to improve liquidity and transparency in the energy derivatives market. For more information about Optionable and OPEX please visit www.optionable.com.

OPEX is a servicemark of Optionable, Inc.

About Allen & Caron
Allen & Caron, founded in 1981, is a full-service investor relations and corporate communications firm with offices in New York, Irvine (CA) and London, with a branch operation in Paris. It offers to small- and mid-cap companies a broad range of capabilities geared to enhance awareness among target audiences, primarily in North America, the UK and the European Union.


Contact Information:

Rudy Barrio (investors)
Allen & Caron Inc
Tel: 212 691 8087
Email: r.barrio@allencaron.com