Diversified Industries Ltd.

Diversified Industries Ltd.

December 10, 2007 13:56 ET

Diversifed/CFR Chemicals Adds to its Management Team

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 10, 2007) - Diversified Industries Ltd. (TSX VENTURE:DVS) is pleased to announce the following new appointments, Mr. Tomas J. Marshall, CMA to the position of Chief Financial Officer, Mr. Gary Mahura to the position of VP Sales and Operations and Mr. Jim Letourneau, P. Geol as a corporate development consultant.

Tomas J. Marshall, CMA - Chief Financial Officer

Tomas Marshall brings 10 years of manufacturing accounting, 4 years of importing and wholesaling accounting to the company. In the 10 years of manufacturing accounting, Tomas worked for several companies with revenues from $10MM, to over $100MM. He has held positions including Senior Manufacturing Accountant, Divisional Controller, and Controller. Tomas attended the University of Alberta and NAIT. He received his CMA designation in 2000 and has been volunteering on the CMA RED Deer Chapter board for the past 4 years.

Gary Mahura - Vice President Sales and Operations

Mr. Mahura brings over 15 years of sales leadership and management experience to CFR Chemicals Inc. His experience working as Field Sales Representative, Sales Manager, and General Manager go along with his educational background in Business Administration. He has gained tremendous knowledge working with such companies as West Jet, Shred-it International, and Hi-Way Service Case IH, and has earned considerable recognition for his efforts. Exposure to such strong performing organizations has helped mold Mr. Mahura into a coach as much as a manager. He believes in the ability of his team to succeed in meeting the goals and objectives of the company and to exceed customer expectations. Gary is an analytical thinker with proven ability in creating budgets, procurement and increasing operational efficiencies.

Jim Letourneau, P. Geol - Consultant

Jim Letourneau, P.Geol., is the editor of the Big Picture Speculator Newsletter and a regular speaker at major North American resource investment conferences. He is a regularly featured commentator on national radio and television. Jim provides investor relations services to small cap resource companies. Jim is a member of the Association of Professional Engineers, Geologists, and Geophysicists of Alberta, American Association of Petroleum Geologists, Canadian Association of Petroleum Geologists and the Canadian Society for Unconventional Gas. As compensation for the consulting services provided by the consultant, Diversified will pay a monthly fee of $3,500 and has granted corporate consultant options to purchase a total of 200,000 common shares at $0.40 cents per share and will be granted in accordance with Diversified's stock option plan. The initial contract term will be for six months starting Dec 1st, 2007.

Diversified has also granted 300,000 options to Gary Mahura and 250,000 options to Tomas Marshall. All options will be priced at $0.40 per common share, have an expiry date of 5 years and will be granted in accordance with Diversified's Stock Option Plan and Stock Option Agreements.

Management would like to thank Mr. Bernard Beauchesne who has recently stepped down as Chief Financial Officer of Diversified. Mr. Beauchesne was with the company for 7 years and will continue on a consulting basis with the company for the next several months.

CFR is a supplier of both commodity and specialty chemical products, primarily to the oil and gas industry. Other services provided by CFR include custom blending of various chemicals, storage of chemical products in its 42,000 bbls tank storage facilities and third party logistic customer management. As part of CFR's growth strategy, management searches for and capitalizes on opportunities in the chemical market to provide competitive advantages for its clients. An integral and necessary part of this strategy is an ongoing program in the research and development of new and unique chemical products. CFR is a jointly held company with Diversified owning 50% of the common stock and 50% being held by 321 Cathedral Ltd. Owned by the Raymond McLean family.

On behalf of the Board of Directors:

Darren J. Lamothe, President/CEO

Statements made in this news release that relate to future plans, expectations, events or performances are forward-looking statements. Such statements involve risks and uncertainties and are based on current expectations. Consequently, actual results could differ materially from the expectations expressed in these forward-looking statements.

The TSX Venture Exchange has in no way passed upon the merits of the proposed acquisition and has neither approved nor disapproved the content of this press release.

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