HOP Energy Completes Acquisition of Kaufman Fuel Company
Acquisition expands company footprint in New England

WHITE PLAINS, N.Y. — September 30, 2008 — HOP Energy (the “Company”), one of the leading retail heating oil distributors in the U.S. has completed its acquisition of Kaufman Fuel Company, the Company announced today. Kaufman Fuel serves a large number of retail customers in Fairfield and lower New Haven counties in Connecticut. The Company announced that it will operate Kaufman Fuel as a new “stand alone” location from its office and garage facility in Bridgeport, CT. Kaufman Fuel is a high quality company which has approximately 90% of its customers on automatic delivery, indicating a loyal and stable customer base. This acquisition fills in the line of HOP Energy operations beginning in Boston, MA and running down the Atlantic coast through Delaware. It further solidifies HOP Energy’s position as one of the leading retail heating oil distributors in the country.

The acquisition of Kaufman Fuel represents a new market for HOP Energy and allows for future expansion in the Fairfield County market. Kaufman Fuel provides a prime and immediate opportunity to establish a significant presence in the area. Michael Anton, HOP Energy’s CEO stated, “We believe that this area is ideally suited to our value-added marketing approach as an automatic delivery, full service provider. Kaufman Fuel will provide us a platform from which to purchase several other high quality oil dealers that could be readily folded into the Kaufman Fuel operations, as well as a platform from which to organically grow in the cities of Greenwich and Stamford, CT.” Ron Farrell, Kaufman Fuel’s President added, “I am excited about the prospects of merging with HOP Energy as their business approach is to provide the highest quality service to its customers. I am also looking forward to assisting HOP Energy with its growth strategy.”

Kaufman employees will continue to work from their current offices. Financial terms of the acquisition have not been disclosed.

Founded in 1995, HOP Energy is a leader in the retail, commercial and fleet fueling distribution of heating oil and other petroleum products and related services in the northeast United States. The Company services customers in Connecticut, Delaware, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, and Rhode Island.