MEK Metretek Technology

Metretek Technologies, Inc. (Amex: MEK) announced that its PowerSecure, Inc. subsidiary has launched two companies, UtilityEngineering, Inc. and PowerServices, Inc., to serve the growing needs of PowerSecure's utility clients. According to Sidney Hinton, president of PowerSecure, the companies -- providing engineering and management services, respectively -- will leverage PowerSecure's already substantial investment in resources and provide a means to deepen PowerSecure's existing relationships with utilities. Engineering services for utilities include the engineering and design of substations and transmission and distribution systems. UtilityEngineering will utilize the existing engineering resources of PowerSecure along with industry experts brought in from the outside the firm to render these services. Management services for utilities include reliability analysis, long range planning, rate analysis and design, power supply issues and other management issues that utilities face in today's demanding economic environment. PowerServices will also utilize the existing internal resources of PowerSecure along with industry experts. The goal of PowerServices and UtilityEngineering, each of which will operate as a wholly owned subsidiary of PowerSecure, and which together are expected to be accretive to earnings in 2006, is to one day provide management and engineering services to utilities in all fifty states. "We have worked for several months in mapping out our strategy for entering these businesses and are excited to be entering the implementation phase," said Hinton. "The early feedback from our utility clients is very encouraging. Successful implementation of these businesses will allow us to better serve our utility clients, accelerate our growth in profits, and, we believe, build a significant barrier to entry for potential new competitors." Metretek Technologies, Inc. through its subsidiaries -- PowerSecure, Inc.; Metretek, Incorporated; and Southern Flow Companies, Inc. -- is a diversified provider of energy technology products, services and data management systems to industrial and commercial users and suppliers of natural gas and electricity. All forward-looking statements contained in this release, including statements concerning the expectations and goals of UtilityEngineering and PowerServices, are made within the meaning of and pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are all statements other than statements of historical facts, including statements concerning the plans, intentions, expectations, projections, hopes, beliefs, objectives, goals and strategies of management and statements of assumptions underlying the foregoing, and are often, but not always, identified by words such as "may," "expect," "will," "believe," "optimistic," "anticipate" and similar terminology. Forward-looking statements are not guarantees of future performance or events and are subject to a number of known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed, projected or implied by such forward-looking statements, including, but not limited to, PowerSecure's ability to develop and market its products and services and to deliver anticipated benefits to its customers; changes in the energy industry in general and the natural gas and electricity markets in particular; the effects of competition; the ability of PowerSecure to secure and maintain key contracts and relationships; general economic, market and business conditions; and other factors, risks and uncertainties described from time to time in the Company's reports and filings with the Securities and Exchange Commission, including but not limited to the Company's most recent Form 10-K and Form 10-Q and subsequently filed Forms 8-K. Accordingly, there can be no assurance that the results expressed, projected or implied by any forward-looking statements will be achieved, and readers are cautioned not to place undue reliance on any forward-looking statements. The forward-looking statements in this press release speak only as of the date hereof and are based on the current plans, goals, objectives, strategies, intentions, expectations and assumptions of, and the information currently available to, management. The Company assumes no duty or obligation to update or revise any forward-looking statements for any reason, whether as the result of changes in expectations, new information, future events, conditions or circumstances or otherwise.