Optionable

NEWS RELEASE for January 22, 2007

                       OPTIONABLE ANNOUNCES NYMEX HOLDINGS
           TO PURCHASE 19 PERCENT OF OUTSTANDING SHARES OF THE COMPANY

Briarcliff Manor, NY, January 22, 2007 - Optionable, Inc. (OTCBB: OPBL)
(`Optionable" or the "Company"), a leading provider of natural gas and other
energy derivatives brokerage services, announced today that it and three of its
founding stockholders have executed a binding term sheet for an agreement with
NYMEX Holdings, Inc. (NYSE:NMX) ("NYMEX") concerning certain cooperative
technology initiatives, the acquisition of a 19 percent stake in Optionable by
NYMEX from its three founding stockholders and the issuance to NYMEX of a
warrant which would permit it to increase its stake.

Optionable CEO Kevin Cassidy said, "This strategic relationship between
Optionable and NYMEX, the world's largest exchange for the trading of energy
futures and options contracts, will propel our growth in energy and other
commodity markets. The combination of having NYMEX as a stakeholder in our
success and the development of joint technology programs will enhance our high
standing within the energy and other commodities derivatives community. The
transaction was structured to allow NYMEX to be a stakeholder in Optionable
without immediate dilution to existing shareholders, and to allow Optionable's
existing management to retain a high percentage of ownership in the Company. We
believe that this cooperation between both companies will be extremely favorable
to our business, and consequently will be well-received by our existing and
potential clients."

NYMEX Chairman Richard Schaeffer said, "We are excited to invest in Optionable
and to work with its management to expand NYMEX's position in the options space.
As we reflect on the success that NYMEX ClearPort has achieved and look for new
areas of growth for the future, we recognize that options trading, both open
outcry and electronic, will be a significant component of that future growth.
OPEX technology is uniquely positioned to help us achieve our goals. We remain
committed to working with the voice brokerage community, which provides
significant volume and open interest to NYMEX contracts, in helping them grow
their business."

Closing of the transaction, which is expected to occur within sixty days, is
subject to NYMEX Board of Directors satisfaction with its reasonable due
diligence review and completion of necessary definitive documentation.

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 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.

About NYMEX Holdings, Inc.
NYMEX is the parent company of the New York Mercantile Exchange, Inc., the
world's largest physical commodity exchange. NYMEX offers futures and options
trading in energy and metals contracts and clearing services for more than 250
off-exchange energy contracts.

Through a hybrid model of open outcry floor trading and electronic trading on
CME Globex(R) and NYMEX ClearPort(R), NYMEX offers crude oil, petroleum
products, natural gas, coal, electricity, gold, silver, copper, aluminum,
platinum group metals, and soft commodities contracts for trading and clearing
virtually 24 hours each day.

For more information on NYMEX or the New York Mercantile Exchange, Inc., please
visit www.nymex.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.


Contact Information:

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

or

Brian Kennedy (media)
Allen & Caron Inc
Tel: 212 691 8087
Email: brian@allencaron.com