Blog Archive – Diamond I Establishes Online Biofuels Exchange

June 18th, 2008

USBiofuelsExchange.com to Be First Internet Biofuels Marketplace

June 18, 2008 — Diamond I, Inc. (DMOI) announced that it has
established www.USBiofuelsExchange.com (the “USBE”), a new Internet
biofuels marketplace. The USBE is the brainchild of DMOI’s newest
director, Tom Gray.

Mr. Gray has over 25 years’ experience marketing biofuels, including 25
years of marketing ethanol, and has been marketing biodiesel since its
market introduction.  Mr. Gray is a past winner of the “Northern
Colorado Entrepreneur of the Year”.  Also, Mr. Gray served the Colorado
Wyoming Petroleum Marketers Association in various capacities, including
Co-Chairman of the Board, President and Trustee.

Mr. Gray’s vision 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.

“Biofuels in the U.S. is a multi-billion dollar industry, growing at
over 25% per year, with no national exchange or marketplace.  Currently,
the Biofuels industry is rife with, and hampered by, its own
inefficiencies.  The U.S. Biofuels Exchange expects to bring order to
the Biofuels industry while becoming the industry’s central
marketplace,” said Tom Gray.  “I’ve experienced the frustration first
hand and I believe this exchange can make the difference.”

More about the USBE:

USBE is to be the first and only Internet marketplace for all current
and future biofuels and biofuel products, which include biodiesel (in
all of its forms) and ethanol.  Biofuel producers and other sellers will
list their biofuel quantities and desired pricing directly on the USBE
web site. Then, buyers will buy or bid on these listed biofuel quantities.

It is intended that the USBE will charge a fee on every transaction
between sellers and buyers.  The USBE 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 USBE 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.

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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