Diversified Industries Accounces Record Second Quarter Results
04-29-2008
Diversified Industries Ltd. (“Diversified”) (DVS/TSX-V) is pleased to announce CFR
Chemicals Inc. (“CFR”) has exceeded projected revenues and profits for the 2nd quarter of the
current fiscal period. CFR’s revenues for the 2nd quarter are $8.6 million, up 177% from $3.1
million from the same period last year and the company is reporting a net profit before tax of
$580,000 compared to a profit of $118,000 from the same period last year.

As a result of CFR’s performance, Diversified is reporting a consolidated 2nd quarter profit of
$499,999 or $0.0152 per share and a year-to-date profit of $321,809 or $0.0109 per share. This
compares to last year’s second quarter loss of $264,371 or $0.0189 per share and a year-to-date
loss of $470,684 or $0.0336 per share.

Diversified and CFR President / CEO Darren Lamothe commented: “We have expanded our
plant and storage tank capability, we have added to our sales staff, we are developing third party
joint ventures and we are increasing our market area through new distributors. As a direct result
of these initiatives we continue to experience significant revenue growth and a healthy return to
our bottom line. In addition to growing our Western Canadian markets we are currently pursuing
large new opportunities in the Middle East and South America using our speciality chemicals,
such as DVS 6000”.

Both Diversified and CFR continue to explore new opportunities while remaining committed to
core businesses. Further expansion is in progress at CFR’s Kuusamo plant including additional
tank storage and a new specialty chemical blending facility. Sales of DVS 6000, Diversified’s
proprietary hydrogen sulphide scavenger continue to grow and significant gains in market share
are anticipated over the next 12 to 18 months.

CFR’s Kuusamo facility is located 26 kilometres west of Red Deer, Alberta on 22-acres of
industrial-zoned land purchased in March 2007. The Kuusamo facility has over 50 storage tanks
with a bulk storage capacity for numerous chemicals in excess of 7.5 million liters. . CFR’s has a
unique advantage in that the property is serviced by a 2,900 feet single track CN railway siding,
upgraded to handle dangerous goods. In addition, two of CFR’s satellite locations within the
province also offer the distinctive benefit of rail car service to its customers.

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.

Diversified currently owns 50% of CFR Chemicals Inc. with the option to purchase the remaining
50%. For more information visit www.cfrchemicals.com

On behalf of the Board of Directors:

"Darren J. Lamothe"
_____________________________
Darren J. Lamothe, President/CEO
For investor information please contact either of the following;
Diversified Industries Ltd Corporate Head Quarters
Phone: (250) 743-1734 Phone : (403) 346-2149
E-mail: Stephen@dvsind.com Email: dlamothe@cfrchemicals.com
B&D Capital Partners #10, 6874 - 52nd Avenue
Phone: (604) 685-6465 Red Deer, AB T4N 4L1
Email: info@bdcapital.com Fax: 403-346-2299

Statements made in this news release that relate to future plans, expectations, events or performances are forwardlooking
statements. Such statements involve risks and uncertainties and are based on current expectations.
Consequently, actual results could differ materially from the expectations expressed in these forward-looking statements.

The TSX Venture Exchange has in no way passed upon the merits of the proposed acquisition and has neither approved
nor disapproved the content of this press release.