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Monday, April 7, 2008

Diversified Industries Extends Warrant Exercise Date by One Year

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 7, 2008) - Diversified Industries Ltd. ("Diversified") (TSX VENTURE:DVS) will be applying to the TSX Venture Exchange, Form 4D, to extend the warrant exercise date for the July 19, 2007 private placement by one year from July 19, 2008 to July 19, 2009. Any extension is subject to the review and approval of the TSX Venture Exchange.

The private placement that closed on July 19, 2007 generated a share issuance of 3,009,834 for $902,950.20 and 1,504,917 warrants. The shares were issued at a value of $0.30 when the market price at the date of announcement of the private placement was $0.20. The warrants were offered on a one-half warrant to one share basis. The warrant exercise price will remain at $0.45. The market price of the shares on Thursday April 4, 2008 was $0.40.

Diversified currently owns 50% of CFR Chemicals Inc. with the option to own 100%. The option price is locked in, based on profits accrued over a three year period. For complete details of this transaction please refer to the March 21, 2007 news release.

CFR is a supplier of specialty chemical products primarily to the oil and gas industry. Additional services provided by CFR include custom blending, storage of chemical products and third party logistics. CFR's growth is generated from management's ability to capitalize on opportunities in the chemical market and to provide competitive advantages to its clients. An integral part of this strategy is an ongoing program in R & D of new and unique chemical products.

For more information visit www.dvsind.com or www.cfrchemicals.com.

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