SOURCE: Blue Diamond Ventures, Inc.

March 26, 2008 08:30 ET

Blue Diamond Ventures Update: In Negotiations for Bio Diesel Plant in U.S.

HOUSTON, TX--(Marketwire - March 26, 2008) - Blue Diamond Ventures, Inc. (PINKSHEETS: BLDV) -- Since our appearance in December on the "World Business Review" television series, hosted by General Norman Schwarzkopf, our executives have been extremely busy moving the company's position from speculation to production.

We have been quietly doing the off-camera, unglamorous work, as we have made offers to three biodiesel plants in the United States. We anticipate reaching an agreement soon. As predicted, high soybean prices have halted biodiesel production at a number of plants in the United States. According to the USDA, soybean oil costs make up 80 percent of a biodiesel plants' operating costs. In 2007, prices jumped from 28 cents to 45 cents a pound and continue to increase. While our plans are still to construct a biodiesel facility in Belize with an eventual capacity of 100 million gallons per year (GPY), using non-food crops, our immediate objective is to generate income.

We have known all along that controlling our feedstock production would be the key to our profitability and sustainability. For this reason, we have worked tirelessly to establish ourselves in Belize and to implement cooperative agreements. Another key component is our memorandum of agreement with the Texas Agricultural Experiment Station of the Texas A&M University System, whereby, the university will serve as our technical assistance partner in Belize. Our research initiatives will also focus on various technology advancements, identifying, assessing, cultivating and optimizing production of second generation energy feedstocks for cellulose and bio-oils, characterizing and optimizing the design of dedicated bioenergy crops and developing integrated logistics systems associated with the harvest, transport, storage and conversion of bioenergy crops. The company anticipates moving to another exchange following acquistion of its facility.

We will continue to keep our investors informed of our continued progress.

With kind regards,
John Quincey Moaning, CEO
Blue Diamond  Ventures, Inc.

About Blue Diamond Ventures, Inc.

Blue Diamond Ventures (PINKSHEETS: BLDV) is an agriculture and biofuels company with operations in Belize and the U.S. The company has selected BEI Engineering to design and construct a biodiesel facility in Belize with an eventual capacity of 100 million gallons per year (GPY), using non-food crops. After signing a purchase agreement with the Government of Belize, Blue Diamond is planning renovations of 17 buildings, which form part of the Old Lynam College in the Stann Creek District of Belize. This will serve as the headquarters for the company's biofuels and research and development operation. Once renovated, the buildings at Lynam will offer accommodation for staff and visiting researchers. The company has a memorandum of agreement with the Texas Agricultural Experiment Station of the Texas A&M University System, whereby, the university will serve as its technical assistance partner in Belize.

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