BJ's Wholesale Club Signs Agreement With Able Energy, Inc.

Business Editors

ROCKAWAY, N.J.--(BUSINESS WIRE)--Nov. 4, 2002

Able Energy, Inc. ("Able") today announced that it has signed an agreement with the largest member oriented warehouse chain in the Northeast, BJ's Wholesale Club, Inc.

BJ's headquartered in Natick, Ma. will use Able's proprietary PriceEnergy operating system to administer its BJ's Member Heating Oil Advantage program. Under the terms of the agreement, BJ's will market home heating oil to their members using Able's unique technology and distribution network. Able Energy's exclusive system will streamline how BJ's orders are processed and delivered, which will significantly lower operating costs and result in lower prices to consumers.

Timothy Harrington, Able's Chief Executive Officer, stated "We are very excited about working with a partner like BJ's! We are now able to take full advantage of the infrastructure that we have developed and will be able to deliver more gallons in an expanded delivery area. Able Energy and our network of dealers will immediately begin to benefit from this unique business model and add much needed efficiency to the distribution of home heating oil in the Northeast. Harrington added, "By utilizing our PriceEnergy technology, we are capable of lowering the heating costs for homeowners, which makes heating oil an even more competitive energy source."

BJ's Wholesale Club introduced the wholesale club concept in the Northeastern U.S. in the 1980's. Today, BJ's operates over 125 wholesale clubs from Maine to Florida and has the largest number of locations in the fuel-rich Northeast U.S. BJ's has successful experience in the retail petroleum business, operating gas stations at over 50 of their locations, many of which are the highest volume stations in their markets. BJ's common stock is traded on the New York Stock Exchange under the symbol "BJ".

Able Energy is a holding company for five operating subsidiaries, which are engaged in the retail distribution of, and the provision of services relating to, home heating oil, diesel fuel, propane gas, and the HVAC installation and repair. Able Energy has operations in 5 states, and supplements its own distribution capability with local independent dealers who are part of the PriceEnergy distribution network.

Able's common stock is traded on the Nasdaq SmallCap Market under the symbol "ABLE" and on the Boston Stock Exchange under the symbol "AEI".

The statements contained in this press release contain certain forward-looking statements, including statements regarding Able and its subsidiaries expectations, intentions, strategies and beliefs regarding the future. All statements contained herein are based upon information available to Able's management as of the date hereof and actual results may vary based upon future events, both within and without Able management's control.