Optionable Inc Enters Into New Agreement With Opex International Inc

Optionable Inc Enters Into New Agreement With Opex International Inc

VALHALLA, N.Y., Feb 05, 2007 PRNewswire-FirstCall via COMTEX News Network -- Optionable, Inc. (OTC Bulletin Board: OPBL), a leading provider of natural gas and other energy derivatives brokerage services, announced it has entered into an agreement with Opex International Inc effective January 31, 2007, to provide a floor broker on the floor of the New York Mercantile Exchange (NYMEX(TM)) to trade certain derivatives. As a result of this agreement, the Company also announced that it has terminated its agreement with Capital Energy Services (CES) effective January 31, 2007, whereby CES had provided that service previously.
President Edward O'Connor said, "We believe that this agreement with Opex International will further enhance the transparency of the Company, and it will help facilitate a higher level of control of our operations in the natural gas and crude oil brokerage business we support on the floor of the NYMEX."

The Company did not incur any early termination penalties in connection with the CES termination. The Company expects to file a Form 8-K shortly.

About Optionable, Inc.
Optionable, Inc. is a leading provider of natural gas and other energy derivatives trading and brokerage services, headquartered in Valhalla, 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 developed an automated derivatives trading platform. OPEX(R) 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.

Safe Harbor Statement
This release contains forward-looking statements which are made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934. The forward-looking statements in this release do not constitute guarantees of future performance. Those statements involve a number of factors that could cause actual results to differ materially, including risks associated with market acceptance of OPEX, our ability to retain key employees, reliance of strategic relationships, intense and increasing competition, concentration of services revenues related to natural gas derivatives, increased governmental regulations as well as other risks detailed in the Company's filings with the Securities and Exchange Commission. Optionable assumes no obligation to update any forward-looking information contained in this press release or with respect to the announcements described herein.

SOURCE Optionable, Inc.