Diamond Powersports Buys Title Rights to the World's Largest Motorcycle Drag Race Televised by ESPN2

FORT LAUDERDALE, Fla., March 31 -- Diamond Powersports Inc. (BULLETIN BOARD: DPWS) announced today that it has purchased the title rights to the world's largest motorcycle drag race, The AMA/Prostar World Finals of the U.S. Drag Racing Championships.

Both ESPN2 and Outdoor Channel TV will cover the event. Diamond Powersports is a leading supplier of innovative motorcycle parts and accessories to the motorcycle aftermarket and general merchandise markets. Founded in 1992, it manufactures and distributes such custom parts as its Flame Sliders, lowering links, footpegs, and distributes motorcycle tires, engine valves, and other parts, accessories, and apparel. It manufactures over 200 motorcycle parts for the aftermarket motorcycle industry. The company is instrumental in the development of EK chains, including the new DRZ-530 Pro Stock...The Strongest Drag Racing Chain in the World.

"Our company is quickly becoming the leader in the sport bike aftermarket. We are constantly looking for new ways to excite our customers worldwide who ride Honda, Suzuki, Kawasaki, and Yamaha sport bikes. With our growing position in the industry, it only makes sense for Diamond Powersports to sponsor the World Finals," stated Pierre Elliott, Diamond Powersports CEO.

Diamond Powersports recently filed an extension for its 10K. The company is expecting strong year-end numbers, as well as a profitable first quarter. Diamond Powersports has reported record sales for both January and February of 2004.

About Diamond Powersports

Diamond Powersports is the leading supplier of innovative motorcycle parts and accessories to the motorcycle aftermarket and general merchandise markets. Founded in 1992, it manufactures and distributes such custom parts as its Flame Sliders, lowering links, and footpegs, and distributes motorcycle tires, valves, and other parts, accessories, and apparel. It manufactures over 200 motorcycle parts for the aftermarket motorcycle industry.