TORONTO, March 23, 2005 (PRIMEZONE) -- Diamant Art Corporation (OTCBB:DIAAF) is pleased to announce today that, through its wholly-owned subsidiary, Diamant Film Inc., it has secured a ten-year agreement with Diamant Plastics Corporation for the exclusive marketing and distribution rights to the BAHAMAS for Diamant(tm) stretch film, a non-PVC food wrap. Diamant Art Corporation has now secured the rights to the U.S.A., Canada, Mexico and with the current addition of the BAHAMAS, gives the Company exclusive marketing and distribution rights for Diamant(tm) stretch film to a $700 million stretch film market.
Stefan Gudmundsson, Chief Executive Officer of Diamant Film Inc. states; "Due to the fact that Diamant(tm) film can be recycled or incinerated without releasing harmful dioxins or bi-products, we feel that it will be a great benefit to island communities such as the BAHAMAS where garbage disposal and landfills are an issue. Diamant addresses the growing worldwide shift to environmentally conscious and Green products. The market in North America has long awaited an environmentally friendly product that can replace existing PVC products. Nearly a decade and millions of dollars have been spent developing Diamant(tm) film, the world's first clear, polystyrene, economically viable, non-PVC, food stretch wrap. Diamant(tm) stretch film's superior performance meets or exceeds those available from PVC films, including clarity, strength, stretch, and food preservation. We anticipate that we will be able to penetrate this multi-million dollar market rapidly."
Diamant(tm) stretch film is an excellent alternative to PVC film as it does not allow for the migration of harmful agents between the film and the food. Currently, stretch film food wrap products contain Poly Vinyl Chloride ("PVC"), a compound found to be harmful for human consumption and to the environment. In North America, legislation is being considered to limit the use of PVC products. The State of New York has already introduced restrictions on the use of PVC in the food wrap industry. The Company believes they possess the only economically viable polystyrene alternative to PVC stretch film for the North American food wrap industry.
Diamant(tm) stretch film has been approved by the Canadian Health Protection Branch for food contact and qualifies for the United States Food and Drug Administration non-objection status.
Diamant Film Inc. has been authorized to use Canada's Environmental Choice (M) Program (ECP). The ECP is North America's leading benchmark of environmentally responsible products and services. The mission of the ECP is to reduce the stress on the environment by encouraging the demand for and supply of environmentally responsible products and services. Canada's environmental Choice Program and its EcoLogo (M) are internationally renowned because of the program's stringent certification process. Diamant(tm) stretch film has successfully met the criteria for both environmental and performance standards.
For further information, please visit our website at www.diamantfilm.com.
Safe Harbor
This release may contain forward-looking statements that involve uncertainties and risks. Actual results may differ materially from the results predicted. Important factors which could cause actual results to differ materially from those expected or implied in the forward-looking statements are detailed in filings with the Securities and Exchange commission made from time to time by DIAMANT ART CORPORATION. DIAMANT ART CORPORATION undertakes no obligation to release publicly any revision to any forward-looking statements to reflect events or circumstances arising after the date hereof.