MEK Metretek Technology

Metretek Technologies, Inc. (Amex:MEK) announced that its PowerSecure subsidiary has won several new contracts for distributed generation projects valued at approximately $8.5 million. The projects, which range from less than $100,000 to over $5 million in anticipated revenues to PowerSecure, are expected to be completed in 2006. "These contracts provide evidence of our ability to continue penetrating our existing markets while entering new markets," said Sidney Hinton, president and chief executive officer of PowerSecure. "The largest project, at an industrial site of a Fortune 500 company, is in an entirely new geographic market for us and is our first with this company. The second-largest project, valued at over $1.5 million, will be installed at a facility adjacent to an industrial site where we installed a large system for another customer a couple of years ago. Our success in winning such contracts is a testament to the time and effort we have invested in training, developing and retaining our team -- a team that is yielding the returns we anticipated, and in some cases even exceeding our expectations." Distributed generation involves the design and construction of electric generation equipment and controls directly within a commercial or industrial customer's facility. The onsite equipment provides the customer's facility with supplemental and backup power generation capacity, and, in many cases, may also provide the customer with stable power quality and a real-time means by which to mitigate electricity price spikes such as those currently being seen across the country. 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 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 revenues expected to be realized from the orders referred to in this release, the finalization of these orders and the anticipated completion date of these projects, PowerSecure's ability to penetrate existing and new markets, and all other 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," "intend," "hope" 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, the finalization of the terms of these orders and the completion and execution of definitive documentation; PowerSecure's ability to timely and successfully complete these projects to their customers' satisfaction; PowerSecure's ability to obtain sufficient raw materials and equipment to fulfill these orders on timely and commercially reasonable terms; PowerSecure's ability to continue to develop and market its products and services, to expand the scope, markets and business segments of its offerings and to deliver anticipated benefits to its customers; the effects of future changes in tariff structures and environmental requirements on PowerSecure's ability to deliver an economically viable solution; Metretek's ability to maintain sufficient financial and other resources to fund its commitments and the growth of its business; the ability of Metretek to successfully management the growth of its business; changes in customer and industry demand and preferences; Metretek's ability to attract, retain and motivate key personnel; changes in the energy industry in general and the natural gas and electricity markets in particular, including price levels; the effects of competition; the ability of Metretek 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 Metretek's reports and filings with the Securities and Exchange Commission, including but not limited to Metretek's most recently filed Annual Report on Form 10-K and subsequently filed reports on Form 10-Q and Form 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. Metretek 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.