SOURCE: Diamond I, Inc.

September 02, 2005 14:56 ET

Diamond I Escapes Wrath of Hurricane Katrina, Continues Forward Progress

Company Greatly Appreciates E-Mails of Concern and Support

BATON ROUGE, LA -- (MARKET WIRE) -- September 2, 2005 -- Diamond I, Inc. (OTC BB: DMOI), a developer of wireless gaming products, in response to many inquiries, today advised that its headquarters in Baton Rouge, though battered by Hurricane Katrina, did not suffer significant damage, nor did any of its Baton Rouge personnel suffer any injuries.

"We've been inconvenienced here, especially with unreliable telephone service," said David Loflin, Diamond I's CEO, "but it pales in comparison to the devastated neighbors in the region. Our hearts go out to them and we encourage everyone to give generously to the recovery efforts."

To donate to the relief efforts, please visit: www.redcross.org.

About Diamond I, Inc.

Diamond I, Inc. is a development-stage company that develops wireless gaming products, including a hand-held Wi-Fi-based gaming system for on-premises use by casinos/resorts, known as "WifiCasino GS Concierge and Gaming System"™. The term "Wi-Fi" (wireless fidelity) refers to an industry standard for wireless equipment that meets published 802.11(x) standards. Wi-Fi equipment operates in unlicensed spectra, such as 2.4 and 5.8 Ghz.

With the passage of Nevada Law AB471, which authorizes the use of mobile communication devices for gaming in public areas in Nevada casinos, Diamond I seeks to secure a Las Vegas hotel/casino to serve as the demonstration site for its WifiCasino GS, in conjunction with its application for a gaming license in Nevada. Currently, Diamond I is in negotiations with nationally known Las Vegas casinos to serve as the demonstration facility for its system. Also, Diamond I is working to secure cruise ships on which to implement a WifiCasino GS system; Diamond I has had preliminary discussions with certain owners of cruise ships. Diamond I has also had preliminary discussions with certain owners of horse racing facilities in the United States and dog and horse racing facilities outside the United States, with respect to its establishing a WifiCasino GS system on such a facility.

Forward-Looking Statements

Certain statements in these interviews and news releases may constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve risk, uncertainties, and other factors, which may cause the actual results, performance, or achievement expressed or implied by such forward-looking statements to differ materially from the forward-looking statements. Certain statements contained in the interviews are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve numerous risks and uncertainties, including, but not limited to, risks and uncertainties pertaining to development of Diamond I's products and services and markets for such products and services, the timing and level of customer orders, competitive products and service, changes in economic conditions and other risks and uncertainties. Although Diamond I believes the statements are reasonable, it can give no assurance that such expectations will prove correct. Diamond I cautions that any forward-looking statements contained herein are not a guarantee of future performance and that actual results may differ materially.

Contact Information

  • Contact:
    Diamond I, Inc., Baton Rouge
    David Loflin
    225-923-1034
    Email Contact