Optionable, Inc. Set to Expand Board of Directors

VALHALLA, N.Y., May 17 PRNewswire-FirstCall -- Optionable, Inc., (OTC Bulletin Board: OPBL), a leading provider of natural gas and other energy derivatives brokerage services, said today that it intends to commence a search for outside, experienced and independent individuals to join its Board of Directors, and will continue its internal review of the ongoing operations at the Company.

Executive Chairman Albert Helmig said, "Going forward, our efforts will include building a new Board of Directors to make crystal clear our commitment to the quality, integrity and profitability of Optionable.

"In addition, I am in the process of reviewing our current situation, and will speak to the larger issues that have been raised in a timely manner. Meanwhile, I want to thank our staff for its support and continued hard work during this period. Our operations are continuing, trading operations are staffed, and we are servicing our customers with brokerage services through our floor operations, voice brokerage business and OPEX(R) trading platform."

Helmig was appointed Executive Chairman of Optionable on May 11.

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 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.