SOURCE: Diamant Art Corporation

October 17, 2007 09:00 ET

Diamant Art Corporation to Introduce Europe's Nor-X Industry AS's Revolutionary Biodegradable Solution Into North America Through Distribution and Marketing Venture With Oxy-Bio International Inc.

Nor-X™ Industry AS, Currently Being Launched Into the Plastic Industry Worldwide, Well Known for Their Quality, and Unique Degradable Products Internationally, Penetrates the North American Market

TORONTO--(Marketwire - October 17, 2007) - Diamant Art Corporation (OTCBB: DIAAF) is pleased to announce that, through a Distribution and Marketing Venture with Oxy-Bio International, the company will be introducing Nor-X Industry AS's www.nor-x.no/ revolutionary solutions as they embark on their penetration into the US market.

This Strategic Alliance will facilitate Nor-X Industry AS through Oxy-Bio International with Diamant Film Inc., an established vendor that can provide exposure to a sizeable marketplace of earth conscious companies seeking such solutions and products; while simultaneously adding the valuable Biodegradable Nor-X additive to Diamant's line of premium Biodegradable products.

"This strategy is expected to contribute considerably to Diamant's portfolio of superior biodegradable products. These key supplemental resources will enable the company to increase profitability through additional avenues, and will ultimately enable the company to provide a better service to clients at a better value by being the advanced quality, cost effective, full service Biodegradable solution in the marketplace," stated Diamant Art Corporation CEO and President Stefan Gudmundsson.

CEO of Nor-X Industry, Jan Erik Mikkelborg, says: "The agreement with Oxy-Bio International is a big step and a great opportunity for Nor-X Industry in entering the world´s largest markets for plastic consumption. We have developed a forefront technology in Biodegradation of plastic material, and with Nor-X™ Degradable we are confident that its unique Biodegradable properties and the total environmental friendly feature of this product will help the plastic industry as well as the society in general in dealing with a huge environmental problem throughout the world."

About Nor-X: www.nor-x.no/ Nor-X Industry AS is a privately owned Norwegian environmental technology company that manufactures, documents, protects and sells specialized additives to provide new commercially viable and practical environmental solutions to the international polyolefin plastics industry.

About Oxy-Bio International Inc. is a privately owned Canadian corporation owning the exclusive rights to Nor-X's commercial products for North America (NAFTA Countries).

About Diamant Film Inc.: Diamant Art Corporation, through its wholly owned subsidiary Diamant Film Inc. (www.diamantfilm.com), is the world's first plasticizer-free stretch film based on polystyrene and the first food wrap film that is environmentally friendly and recyclable. Diamant's Bio-Products contain Totally Degradable Plastic Additive (TDPA) Oxo-Biodegradable Technology. TDPA-based plastic products will degrade and ultimately biodegrade. Unlike other plastic, once biodegrading is complete, all that remains is carbon dioxide, water and biomass, all of which are part of the normal bio-cycle. Diamant™ film Diamant™ film has recently received the ECO logo certified by the Environmental Choice™ Program. The Environmental Choice™ Program is North America's leading benchmark of environmentally responsible products and services.

Safe Harbor Act:

This release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 6-K or 20F and other filings made by such company with the SEC. Further Diamant Art Corporation and its wholly owned subsidiaries, Diamant Film Inc. and Bio-Plastics Film Inc. do not condone or participate in spam activities, e-mail and fax programs of any manner.

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