Yes, or excitement, surprise, urgency, or other strong feeling. Exclamation points are best used very sparingly. That means don't use them often (and never more than one at a time) in serious writing. They do not belong in formal writing at all, or only under very rare circumstance. But of course casual correspondence and e-mail don't have to follow the rues of formal English.
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Not always! In informal writing, exclamation marks can also express excitement, emphasis, or strong emotion. In text-based communication where tone can be unclear, exclamation marks help convey enthusiasm or urgency.