Exhibit 99.1

             JOULE INC. ANNOUNCES COMPLETION OF GOING-PRIVATE MERGER

        Edison, New Jersey (August 13, 2004) - JOULE Inc. (AMEX:JOL) announced
today the completion of its merger (the "Merger") with JAC Acquisition Company,
Inc., ("JAC") a Delaware corporation owned by Emanuel N. Logothetis, the
founder, Chairman of the Board and Chief Executive Officer of Joule, members of
his immediate family and John G. Wellman, Jr., President and Chief Operating
Officer of Joule (collectively, the "JAC Group").

        As a result of the Merger, each share of Joule common stock, other than
shares of common stock held by the JAC Group, which were contributed to JAC
immediately prior to the Merger in exchange for shares of JAC common stock, and
shares of common stock held by stockholders who perfect appraisal rights under
Delaware law, was converted into the right to receive the merger consideration
of $1.70 per share in cash, without interest. The Certificate of Merger was
filed with the Delaware Secretary of State on August 13, 2004 (the "Effective
Time").

        At the Effective Time, Joule common stock ceased to be traded on the
American Stock Exchange and became eligible for deregistration under the
Securities Exchange Act of 1934, as amended. Joule intends to deregister its
common stock as soon as possible.