SOURCE: Blue Diamond Ventures, Inc.

February 17, 2009 08:30 ET

Blue Diamond Ventures, Inc. Implements Business Strategy by Expanding on Alternative Energy Projects in the U.S. and Africa

HOUSTON, TX--(Marketwire - February 17, 2009) - Blue Diamond Ventures, Inc. (PINKSHEETS: BLDV) recently announced it has implemented its business strategy by expanding on the alternative energy projects it is currently undertaking in the United States and Africa.

One of the Company's main goals for 2009 is to increase its land agreements to 10 million acres in Africa. Through these land agreements, Blue Diamond Ventures will establish feed stock agreements within the United States and other countries.

Blue Diamond Ventures has other business ventures in Africa, including the planting of non-food crops, building its own waste-to-energy facilities and constructing biodiesel facilities. The Company has secured the rights to develop several hundred thousand hectares of land in Africa and Central America, for the control and diversification of non-food crops, which Blue Diamond Ventures plans to begin the development of this year.

The Company also is currently working to complete the acquisition of a biodiesel facility and port in the Gulf Coast. Once ownership is finalized, Blue Diamond Ventures, through its subsidiary Blue Diamond Ventures Biofuels, LLC, will work towards expanding its operating capacity from 12 million gallons per year (GPY) to 24 million GPY -- with little or no downtime -- so the facility can immediately begin generating revenue.

The Company, in 2009, will also strive to implement its renewable generation portfolio -- the foundation of which is the development of basic infrastructure to facilitate timely transmission, substation and wind turbine generator installations in the Midwestern United States. Blue Diamond Ventures and its joint venture partners are currently seeking to secure power purchase and utility ownership agreements in that region.

"Blue Diamond Ventures has developed a strong infrastructure to meet its goals in 2009," said CEO John Quincey Moaning. "We look forward to expanding our business both in the United States and abroad, while increasing shareholder value."

About Blue Diamond Ventures, Inc.:

Blue Diamond Ventures, Inc. is an agricultural company, and through its affiliate, Blue Diamond Ventures Biofuels, LLC, conducts business as a biofuels company with operations in the U.S. and future endeavors in Belize and Ethiopia. The Company is working with an American Company to design and construct its facilities in the U.S. and abroad, with a focus on making biodiesel using non-food crops.

This press release contains forward-looking statements involving risks and uncertainties including statements regarding the Company's future performance. Such statements are based on management's current expectations and are subject to certain factors, risks and uncertainties that may cause actual results, events and performance to differ materially from those referred to or implied by such statements. In addition, actual future results may differ materially from those anticipated, depending on a variety of factors which include, but are not limited to, our ability to leverage our technology, manage our growth, protect our intellectual property rights, attract new customers and general economic conditions affecting consumer spending. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company does not intend to update any of the forward-looking statements after the date of this release to conform these statements to actual results or to changes in its expectations, except as may be required by law.

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