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Diamond I to Pursue Oil and Gas Opportunities
PR Newswire
Board of Directors Sees Diversification as Best Means to Building Shareholder Value

BATON ROUGE, La., Jan. 23 — Diamond I, Inc. announced today that its board of directors had approved a move to diversify the company’s business. The board found that diversification would best serve DMOI’s shareholders. The decision to diversify first into the oil and gas industry was made following a period during which DMOI’s management has received numerous business propositions from oil and gas industry participants.

“The number of oil and gas opportunities that have been pitched to us during the last few months has convinced us that this move into oil and gas will yield positive results for us,” said DMOI’s CEO David Loflin. “We are close to adding a business development officer to our management team and expect to be able to make an announcement about that soon.”

DMOI continues to operate its free online Poker site, IslandBlueCasino.net, a for-entertainment-only site, and to finalize its “GS3″ hand-held gaming unit that is the key facet of its WifiCasino GS gaming system.

About Diamond I, Inc. (wificasino.net)

DMOI has determined to diversify its business interests, with an initial effort focused on the oil and gas industry. DMOI expects to announce other diversification initiatives in the future.

Recently, DMOI opened its first free online Poker site, IslandBlueCasino.net, a for-entertainment-only site legal for users in the United States. Island Blue Casino was designed to create a revenue stream for the company, through the use of click-through advertising programs, such as that offered by Amazon.com. DMOI derived revenues from this web site, during the last two months of 2007.

In addition, DMOI owns the rights to patent-pending voice-recognition and fingerprint biometric security technologies. These security technologies will be incorporated into DMOI’s WifiCasino GS wireless, hand-held gaming system, which includes the hand-held gaming unit known as the “GS3″. With the passage of Nevada Law AB471, which authorizes the use of mobile communication devices for gaming in public areas in Nevada casinos, DMOI continues to seek a hotel/casino to serve as the demonstration site for its WifiCasino. To that end, in a letter of intent, The Palms Resort and Casino has agreed to continue to develop a working relationship relating to DMOI’s WifiCasino and, assuming DMOI continues to meet certain standards, The Palms stated that it intends to pursue an opportunity with DMOI

Forward-Looking Statements

Certain statements contained herein may constitute forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve risk, uncertainties, and other factors, which may cause the actual results, performance, or achievement expressed or implied by such forward-looking statements to differ materially from the forward-looking statements. Certain statements contained herein are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve numerous risks and uncertainties, including, but not limited to, risks and uncertainties pertaining to development of DMOI’s products and services and markets for such products and services, the timing and level of customer orders, competitive products and service, changes in economic conditions and other risks and uncertainties. Although DMOI believes the statements are reasonable, it can give no assurance that such expectations will prove correct. DMOI cautions that any forward-looking statements contained herein are not a guarantee of future performance and that actual results may differ materially.