SOURCE: Diamond I, Inc.

October 15, 2008 09:35 ET

Diamond I's US-BX Enters Mock Trading Period

Online Biofuels Exchange's Beta Period to End, First "Live" Trading Session Nears

BATON ROUGE, LA--(Marketwire - October 15, 2008) - Diamond I, Inc. (OTCBB: DMOI), a reporting company trading on the OTCBB that is to change its name to "US BioFuels Exchange, Inc.," announced that the final stage of its beta testing, an extensive mock trading exercise, has been initialized. At the completion to the mock trading exercise, the "opening bell" will ring at the US-BX.

"When the US-BX sounds the 'opening bell,' the Biofuels industry's newest, most innovative business tool designed for Producers, Brokers, Distributors, Buyers and Marketers (resellers) of Biofuels (Biodiesel and Ethanol) and other Biofuel-related products will come to life," said James Kaufman, the US-BX's managing director.

Previously, the US-BX has forecast that, for 2009, 200,000,000 gallons of Biofuels, including Biodiesel and Ethanol and other Biofuel-related products, will be purchased and sold through the US-BX. The forecasted traded-gallons volume would generate $1,875,000 in revenues from transaction fees.

Information about the US-BX is available on its website:

About Diamond I, Inc.

The establishment of represents DMOI's initial step in diversifying its business interests.

Safe Harbor Statement

This press release contains statements that may constitute forward-looking statements, including the company's ability to enter successfully the alternative fuel industry and to expand its Internet-based business. These statements are based on current expectations and assumptions and involve a number of uncertainties and risks that could cause actual results to differ materially from those currently expected. For additional information about Diamond I's future business and financial results, refer to Diamond I's Annual Report on Form 10-KSB for the year ended December 31, 2007. Diamond I undertakes no obligation to update any forward-looking statements that may be made from time to time by or on behalf of the company, whether as a result of new information, future events or otherwise.

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