Diamond Bay Holdings -Pink Sheets: DBHD- Announces Commercial and Government Marketing Plans for Its Newly Acquired Tagnet Product; Company Plans to Establish Channel Partners in North America And Canada.

FALLS CHURCH, Va. -- Diamond Bay Holdings, Inc. (Pink Sheets: DBHD), a holding company with multiple subsidiary operations, announced today that it plans to establish commercial channel marketing partners to sell the Tagnet "Asset Tracking System" in the United States and Canada and a seasoned "teaming partner" for its entry into the U.S. government markets.

Diamond Bay Holdings announced last week that it has acquired an exclusive license from Tagnet International A/S, a subsidiary of Maximum Dynamics, Inc. (OTCBB: MXDY), to market the company's Tagnet product in the continental United States and Canada.

"Our goal is to move quickly and effectively to capitalize on existing opportunities for the deployment of the Tagnet product, and we believe we are capable of realizing sizable revenues and profits once a number of channel marketing partners are in place," said Jeff Guzy, president of Diamond Bay Holdings. "Tagnet has a superior technology and a comprehensive reporting system that makes it truly one-of-a-kind as compared to other radio frequency tracking products on the market today. By utilizing a channel marketing strategy and allowing qualified companies to represent Tagnet to their client base, we hope to penetrate the market faster and more efficiently than to go it alone."

The Tagnet "Asset Tracking System" utilizes tag readers, computing modules and tags to provide a full mobile logistics system. It delivers a unique technology approach to address the problem of real-time management of mobile assets by embracing the latest in radio frequency identification (RFID) technology, cellular communications and electronic tagging in order to create real-time tracking and networked administrative capabilities.

Tagnet solutions enable customers to track vehicles, cargo and other mobile assets, as well as remotely perform all related administrative functions in order to minimize the cost of inventory and invoice management as well as cut down on inefficiencies due to human error.

While the Tagnet solution can be customized for virtually any business, Diamond Bay Holdings' primary targets for Tagnet are the mobile logistics, security, and fleet management sectors. The company is developing sales and marketing operations in the metropolitan Washington, DC area to capitalize on its convenient access to both Northeast and Midwest companies in the manufacturing sector.

About Tagnet

Tagnet International A/S is a technology company that specializes in wireless tracking solutions. Tagnet's revolutionary solutions are attracting the attention of several large multinational and government agencies in the U.S., Mexico, Africa and the European Union. Current customers of Tagnet's solutions include major transport organizations in the E.U., and Tagnet International is currently completing the installation of a reference site and pilot in Africa at the request of a major international logistics corporation. For more information, please visit the company website at www.Tagnet-International.com.

About Diamond Bay

Diamond Bay Holdings, Inc. (Pink Sheets: DBHD) operates a group of wholly owned subsidiary operations that focus on international telecommunications and technology, real estate holdings, E-commerce marketing and career services. The company plans to spin off subsidiaries into separate public companies as they mature. For additional information on the company, please visit www.diamondbayholdings.com.

Legal Notice Regarding Forward-Looking Statements: "Forward-looking statements'' as defined in the Private Securities Litigation Reform Act of 1995 may be included in this news release. These statements relate to future events or our future financial performance. These statements are only predictions and may differ materially from actual future results or events. Diamond Bay disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. There are important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to risks associated with changes in general economic and business conditions, actions of our competitors, the extent to which we are able to develop new services and markets for our services, the time and expense involved in such development activities, the level of demand and market acceptance of our services, and changes in our business strategies.