MEK Metretek Technology

Metretek Technologies, Inc. (Amex:MEK) today announced that it has granted 40,000 stock options as an inducement to four individuals to become employees of PowerSecure, Inc., a wholly owned subsidiary of the Company. These new employees, who have become part of PowerSecure's growing business, are Dennis O. Davis, Richard A. Heithold, Lori K. Martin and Hugo E. Olazabal. The options are non-qualified stock options and contain an exercise price equal to the closing stock price of the Common Stock on the date of grant, vest in four equal installments commencing on the first anniversary of the grant date, and have ten-year terms. The stock options were granted outside of the Company's stockholder approved stock plans in accordance with an exception for inducement grants under American Stock Exchange requirements. 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.