SOURCE: Diamond I, Inc.

October 27, 2005 07:00 ET

Diamond I Participates in Nevada Gaming Control Board Workshop for Proposed Regulations Implementing AB471 and Associated Technical Standards for Mobile Gaming Systems

LAS VEGAS, NV -- (MARKET WIRE) -- October 27, 2005 -- Diamond I, Inc. (OTC BB: DMOI), a developer of wireless gaming products, today reported that it had participated in the Nevada Gaming Commission's first public review and comment workshop regarding the proposed regulations and requirements of Nevada Law AB471, which authorizes the use of mobile communication devices, such as Diamond I's WifiCasino GS™ wireless gaming system, for gaming in public areas in Nevada casinos.

Present at the workshop were Diamond I's Chief Technology Officer Mike Prasad and the company's Nevada Attorney/Advisor Scott Scherer of the Hale Lane Law Firm ( Among the details under review were the Technical Standard Requirements for mobile gaming systems and the high level of security that is required. In particular,"biometric" technologies were discussed as strong possible solutions that would enable the secure operation of mobile communication devices and satisfy important security requirements. Biometrics is a key differentiator and core feature in Diamond I's WifiCasino GS™ wireless gaming system.

"The Gaming Commission has been very receptive and the AB471 process is progressing very well," said Mike Prasad, Diamond I's CTO. "We are proud to be a part of this important process that will set the stage for the next revolution in Nevada gaming."

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

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    Diamond I, Inc., Baton Rouge
    David Loflin
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