SOURCE: Diamond I, Inc.

July 08, 2008 09:50 ET

Diamond I's USBiofuelsExchange.com (the "US-BX") Web Site Opens for Pre-Registration

High Volume of Unsolicited Registration Inquiries Accelerates Pre-Registration Process

BATON ROUGE, LA--(Marketwire - July 8, 2008) - Diamond I, Inc. (OTCBB: DMOI), a fully-reporting company trading on the OTCBB that is to change its name to "US BioFuels Exchange, Inc.," announced that it has opened its USBiofuelsExchange.com web site to pre-registration by Producers, Resellers and Buyers of Biofuels (Biodiesel and Ethanol) and other biofuel products. The determination to open the pre-registration process ahead of schedule was made in response to the high volume of inquiries seeking to register for participation on the US-BX.

"The response to the US-BX has been greater than even our most optimistic projections," said Tom Gray, DMOI's newest director. "We are very happy with the biofuel industry's initial reception of our exchange and look forward to announcing more exciting developments in this important project," added Mr. Gray.

Link to US-BX Pre-Registration:

www.usbiofuelsexchange.com/preregistration.htm

More about the US-BX:

The US-BX, the vision of DMOI's newest director, Tom Gray, brings to the chaotic biofuels marketplace an orderly and efficient matching of producers and other sellers with buyers, using the Internet, in a manner similar to the model currently employed by Ebay.com. It is intended that the US-BX will charge a fee on every transaction between sellers and buyers. The US-BX expects that it will, in the long-term, assist in bringing market order to a large, fast-growing and chaotic marketplace, by offering a venue that will facilitate national pricing, among other things, for biofuels and biofuel products. The US-BX will be dynamic. Biofuels producers and other sellers will be able to update, in real-time, their available quantities, as well as pricing, as often as desired.

www.USBiofuelsExchange.com

www.US-BX.com

About Diamond I, Inc.

The establishment of USBiofuelsExchange.com 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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