SOURCE: O2Diesel Corporation

June 21, 2006 13:26 ET

O2Diesel Included in Preliminary Listing for Russell MicroCap™ Index

NEWARK, DE -- (MARKET WIRE) -- June 21, 2006 -- O2Diesel Corporation (AMEX: OTD), a pioneer in the development of cost-effective, cleaner-burning, ethanol diesel fuel blends for centrally fueled fleets of all types, today announced it will be included in the Russell MicroCap™ Index when the Russell Investment Group reconstitutes its family of U.S. indexes on June 30, 2006 according to a preliminary membership list posted on Friday, June 16, 2006 at www.russell.com.

Russell is the only U.S. index family that is completely and objectively rebuilt to ensure market segments are accurately represented. On May 31, 2006 U.S. stocks were ranked by capitalization, determining index membership. Russell MicroCap Index measures performance of the microcap segment, representing less than 3% of the U.S. equity market. The Russell MicroCap Index includes the smallest 1,000 securities in the small-cap Russell 2000® Index plus the next 1,000 securities. On June 30, 2006 the newly reconstituted Russell U.S. indexes will be effective at the close of the U.S. capital markets.

Mr. Alan Rae, CEO of O2Diesel commented, "We are continuing to make significant progress in the validation of the global commercial potential of our proprietary ethanol diesel blend O2Diesel™. This has been achieved through strategic commercial partnerships, product development agreements and through investments by internationally recognized firms. This progress has resulted in an increase in the Company's exposure in the financial community. Subsequently we have seen an increase in our market capitalization and liquidity, which has enabled us to qualify for the Russell MicroCap™ index. We expect that being added to the Index will increase our Company's awareness among institutional and other investors who utilize the Russell Indexes as part of their investment strategy."

About Russell

Russell, a global leader in multi-manager investment services, provides investment products and services in 44 countries. Russell manages more than $167 billion in assets and advises clients worldwide representing $2.4 trillion. Founded in 1936, Russell is a subsidiary of Northwestern Mutual and is headquartered in Tacoma, Wash., with additional offices in New York, Toronto, London, Paris, Singapore, Sydney, Auckland and Tokyo.

About O2Diesel: The Company and Its Fuel Technology

O2Diesel Corporation (AMEX: OTD) and its U.S. subsidiary O2Diesel, Inc., is a pioneer in the commercial development of a cleaner-burning diesel fuel alternative that provides exceptional performance and environmental qualities for centrally fueled fleets and off-road equipment of all kinds. Engineered and designed for universal application, O2Diesel™ is an ethanol-diesel blend that substantially reduces harmful emissions without sacrificing power and performance. Extensive independent and government-recognized laboratory and in-use field tests have demonstrated the effectiveness of O2Diesel™ -- the introduction of this cost-effective, cleaner-burning diesel fuel is now underway in the United States and other global markets. For more information please refer to www.o2diesel.com.

Forward-Looking Statements

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding O2Diesel Corporation's business which are not historical facts are 'forward-looking statements' that involve risks and uncertainties. Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation, the failure to obtain adequate financing on a timely basis and other risks and uncertainties. Actual results could differ materially from those projected in the forward-looking statements, as a result of either the matters set forth or incorporated in this report generally or certain economic and business factors, some of which may be beyond the control of O2Diesel. These factors include adverse economic conditions, entry of new and stronger competitors, inadequate capital, unexpected costs, failure to gain product approval in the United States or foreign countries for the commercialization and distribution of our products and failure to capitalize upon access to new markets. O2Diesel disclaims any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events. "O2Diesel" and "CityHome" are trademarks of O2Diesel Corporation.

Contact Information

  • Contact:
    O2Diesel Corporation
    Alan Rae
    +1 (302) 266 6000

    Or

    Alliance Advisors, LLC
    Mark McPartland
    +1 (910) 221-1827