Diamond I, Inc. Sees Bright Future for its Wireless Gaming Products, as States' Authorized Gaming Activities Grow; Response from Small Casino Operators Particularly Encouraging.

BATON ROUGE, La. -- Diamond I, Inc. (OTCBB: DMOI), a developer of wireless gaming products, issued a statement today regarding its perception of the country's gaming industry, particularly with respect to the gaming industry outside of Las Vegas. In its statement, Diamond I indicated that it had experienced a high degree of interest in its WifiCasino GS(TM) wireless gaming products from casino operators across the U.S., particularly from smaller casino operators in search of ways to maximize their patrons' gaming experience. These casino operators include Native American Indian tribes in several states, where, according to the National Indian Gaming Commission, Indian gaming revenue exceeded $16.7 billion at 330 casinos in 2003, up from $9.8 billion at 310 casinos in 1999.

David Loflin, CEO of Diamond I, stated, "We believe that the level of gaming activities in the U.S. today will only serve as the industry's baseline, as states permit expanded gaming activities in an effort to boost tax revenues and the industry expands operations in response to the demands of consumers. My trip to Southern Gaming Summit in Biloxi, MS convinced me that our WifiCasino GS gaming system is the right product for this growing gaming industry - our WifiCasino GS was the only wireless gaming product represented there."

Mr. Loflin also noted that the dramatic expansion of Indian gaming in recent years is particularly exciting to Diamond I. "Many of the Indian casinos, such as the WinStar Casino run by the Chickasaw Nation in Southern Oklahoma near Dallas/Fort Worth, are beginning to add some Vegas-style glitz and more hotel rooms to their properties, as they work to attract more customers to their properties. We have begun our WifiCasino GS marketing efforts in several states where Indian gaming is on the move."

About Diamond I, Inc.

Diamond I, Inc. is a development-stage company that develops wireless gaming products, including a hand-held Wi-Fi-based gaming system for on-premises use by casinos/resorts, known as "WifiCasino GS Concierge and Gaming System"(TM). The company also provides Wi-Fi Internet access in Louisiana, Arizona, Maryland, Pennsylvania, Nebraska and Washington, D.C. The term "Wi-Fi" (wireless fidelity) refers to an industry standard for wireless equipment that meets published 802.11(x) standards. Wi-Fi equipment operates in unlicensed spectra, such as 2.4 and 5.8 Ghz.

Diamond I seeks to secure a Las Vegas hotel/casino to serve as the demonstration site for its WifiCasino GS, in conjunction with its application for a gaming license in Nevada. Currently, Diamond I is in negotiations with one or more nationally-known Las Vegas casinos to serve as the demonstration facility for its system. Also, Diamond I is working to secure one or more cruise ships on which to implement a WifiCasino GS system; Diamond I has had preliminary discussions with the owners of one or more cruise ships. Diamond I has also had preliminary discussions with the owners of one or more horse racing facilities in the United States and dog and horse racing facilities outside the United States, with respect to its establishing a WifiCasino GS system on such a facility.

Forward-Looking Statements

Certain statements in these interviews and news releases 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 in the interviews 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 Diamond I'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 Diamond I believes the statements are reasonable, it can give no assurance that such expectations will prove correct. Diamond I cautions that any forward-looking statements contained herein are not a guarantee of future performance and that actual results may differ materially.