Diagem Inc.
TSX VENTURE : DGM

Diagem Inc.

December 20, 2006 14:43 ET

Diagem Announces Election of Directors and Officers, Grants Options and Retains Services of Sun International Communications

MONTREAL, QUEBEC--(CCNMatthews - Dec. 20, 2006) - Diagem Inc. ("Diagem" or "the Company") (TSX VENTURE:DGM) is pleased to announce that Mousseau Tremblay, David Crevier, Antony Wood, Jacky Lewy, Philip Renaud, Carlos Alberto Pessoa Pardellas and Denis Francoeur were elected directors at the annual and special meeting of shareholders of the Company held in Montreal on December 20, 2006.

Subsequent to the annual meeting of shareholders, the Board of Directors appointed Mousseau Tremblay as Chairman of the Board of Directors, Denis Francoeur as Chief Executive Officer, Paulo Andreazza as President, Paul Einarson as Chief Financial Officer and David Crevier as Secretary.

Diagem also announces that it has granted a total of 6,000,000 options to purchase common shares in the Company to its directors and 5,500,000 options to purchase common shares to officers, employees and consultants who are not directors of the Company, of which 3,250,000 were granted to employees and consultants of its Brazilian subsidiary. All options have an exercise price of $0.10 and an exercise period of five years.

Additionally, the Company has retained the services of 4040 538 Canada Inc. Sun International Communications to provide advisory services in financial communications and investor relations. The investor relations service contract is for six months with a monthly retainer of $6,000 including the issuance of 200,000 options to purchase commons shares at an exercise price of $0.10 and an exercise period of five years.

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