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Diamond International Group Inc. (Nasdaq: DMDI), Announces That Management Plans to Present to the Board of Directors a Stock Repurchase Program


HICKSVILLE, N.Y., Feb. 11 /PRNewswire-FirstCall/ -- Diamond International Group, Inc. , announced that management is anticipating the implementation of a share buy-back program. This action reflects management's belief that the Company's shares are a good investment at current prices and are, in their opinion, undervalued.

"We have recently completed new agreements with clients that will result in new, as well as, continued business through 2003". Stated Dick Levinson, President and CEO, "I feel that with the current projected revenues and earnings for this year, our stock will realize an enhancement of value, certainly from where it has languished during this tough and uncertain market environment. We feel that our share price is not reflective of its true present value and by purchasing some of our shares back from the open market and or certain individuals, we hope to bring the stock price into line".

This repurchase plan will begin shortly. Diamond International Group, Inc. presently anticipates that these share repurchases will be made with no set time frame or pre-determined cap. The timing of purchases will depend on market conditions and available cash flow. Diamond International Group, Inc. intends to structure its purchases to comply with Securities and Exchange Commission Rule 10b-18.

The repurchased shares may result in an immediate increase in earnings per share based on the fact that these shares will no longer be available for trading. The program does not obligate Diamond International Group, Inc. to acquire any particular amount of common stock, and the program may be modified, suspended or terminated at any time without notice at Diamond International Group's discretion.

About Diamond International Group: Formed in 1998, acquired H.Y. Applied Inter-data Services, Inc. ("Hyaid"), one of the largest company's in the direct mail servicing industry with proprietary software that is unique in it's originality, flexibility, and modularity.

This news release may contain forward-looking statements usually containing the words "believe," "expect," or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act.

Future results of operations, projections, and expectations, which may relate to this release, involve certain risks and uncertainties that could cause actual results to differ materially from the forward-looking statements.

Factors that would cause or contribute to such differences include, but are not limited to, the factors detailed in the Company's Annual Report or Form 10-KSB and in the Company's other Securities and Exchange Commission filings, continuation of existing market conditions and demand for our products.

Please visit our web site at (http://www.thehyaidgroup.com/ ) and familiarize yourself with the dynamic operating subsidiary of Diamond International Group, Inc. where you will see a full range of activities, from our proprietary products to our fulfillment service expertise.

Diamond International Group Inc.
CONTACT: Michael McQuillan of Diamond International Group Inc.,
[phone], ext. 3017, or fax, [phone]

Web site: http//http://www.thehyaidgroup.com/