Albert Helmig Takes Reins at Optionable Inc; Kevin Cassidy Resigns

VALHALLA, N.Y., May 14, 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 that Board Chairman Albert Helmig, 55, has taken over day-to-day management of the Company as Executive Chairman, effective May 11. On May 12, the Company accepted the resignation, effective immediately, of former Vice Chairman, CEO and Director, Kevin Cassidy.
Helmig said, "In my new and expanded role as Executive Chairman I am going to assess the situation and guide the Company accordingly."

Helmig, whose appointment as Chairman was announced on May 2, 2007, has over 30 years of commodity experience from Wall Street to commodity merchant, spanning both physical and financial instruments on a global basis. He is CEO of Gray House, a private consulting firm providing risk management, price models and industry best practice services to clients such as exchanges, fund managers, financial institutions, producers, integrated energy companies, government agencies and ministries, think tanks and law firms. He is a frequent contributor at industry forums and to the media. He earned his B.S. in Finance and Economics from Philadelphia University.

About Optionable
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.

OPEX is a servicemark of Optionable, Inc.

SOURCE Optionable, Inc.