Diversified Industries Ltd.

Diversified Industries Ltd.
CFR Chemicals Inc.

CFR Chemicals Inc.

March 26, 2008 08:00 ET

Diversified Industries Ltd.: CFR Chemicals More Than Doubles Revenues and Triples Earnings in the Second Quarter

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 26, 2008) - Diversified Industries Ltd. ("Diversified") (TSX VENTURE:DVS) is pleased to announce that CFR Chemicals Inc. ("CFR") has exceeded projected revenues and profits for the 2nd quarter in a row.

CFR's revenues for the 2nd quarter are $8.6 million, up from 1st quarter revenues of $4.9 million and up from revenues of $3.1 million during same period last year.

In the 2nd quarter the company is reporting a net before tax profit of $580,000 compared to a net before tax profit of $118,746 during the same period last year which is an increase of 387%.

Diversified and CFR President / CEO Darren Lamothe commented: "Over the 1st first 6 months of the acquisition of CFR, CFR has earned revenues of more than $13.5 million compared to $6 million over the same period last year. These results are due to the continued expansion of our business both geographically and through the products and services that we offer. Our carefully evaluated investment in our infrastructure has enabled this revenue increase. By growing through expansion of infrastructure and the development of new technologies, Diversified / CFR revenue and earnings potential will expand and remain strong for years to come."

CFR's Kuusamo facility is located 26 kilometres west of Red Deer, Alberta on a 22-acre parcel of industrial-zoned land purchased in March 2007. CFR has the unique and key advantage over its competitors as the property is serviced by 2,900 feet of single track CN railway siding, upgraded to handle dangerous goods. In addition, two of CFR's satellite locations within the province also offer the distinctive benefit of rail car service to its customers. The Company currently has over 50 storage tanks between our Kuusamo and other facilities in Grande Prairie and High Level with a storage capacity of in excess of 7,500,000 litres.

CFR is a supplier of specialty chemical products primarily to the oil and gas industry. Additional services provided by CFR include custom blending, storage of chemical products and third party logistics. CFR's growth is generated from management's ability to capitalize on opportunities in the chemical market and to provide competitive advantages to its clients. An integral part of this strategy is an ongoing program in R & D of new and unique chemical products.

Diversified currently owns 50% of CFR Chemicals Inc with the option to own 100%. The option price is locked in, based on profits accrued over a three year period. For complete details of this transaction please refer to the March 21, 2007 news release.

For more information visit www.dvsind.com or www.cfrchemicals.com.

Forward Looking Statements

Certain statements contained in this news release, including statements which may contain words such as "could", "should", "expect", "anticipate"," believe", "will", and similar expressions and statements relating to matters that are not historical facts are forward looking statements. Such forward looking statements involve known and unknown risks and uncertainties which may cause the actual results, performances or achievements of Diversified to be materially different from any future results, performances or achievements expressed or implied by such forward looking statements.

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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