Diamond Powersports Sales Up 52% for Year End 2003

FORT LAUDERDALE, Fla., April 15 -- Diamond Powersports Inc. is pleased to announce that the company released its year-end financial for period ending December 31, 2003. In their report, Diamond Powersports showed a 52% increase in sales for year- end 2003 as compared to the prior year.

Sales for the year ended December 31, 2003 were $888,047 versus sales of $585,197 for the year ended December 31, 2002, an increase of 52%. The increase in sales is attributable to new and improved parts as well as a growing awareness of Diamond Powersports products.

Gross Profit for year ended December 31, 2003 were $441,367 versus gross profit of $178,482 for year ended December 31, 2002, an increase of 147%. The cost of goods sold for the year ended December 31, 2003 was $446,680 versus $406,715 in the same period in 2002. Cost of sales as a percentage of sales was 50% for 2003 and was 70% in 2002. The decrease in cost of sales as a percentage of sales was due to better gross margins in 2003 from newer products. The company expects gross profit margin to improve in 2004 as new products with better margins have been developed.

In addition to the improvement for gross profit for year-end 2003, Diamond Powersports decreased its Net Loss significantly. The company reduced its Net Loss for period ended December 31, 2003 to ($361,596) compared to a Net Loss of ($482,596) during the same period 2002, a 25% improvement. As a result, Diamond Powersports posted a 25% decrease in Net Loss per share for period ended December 31, 2003 ($.04) versus ($.05) for the same period ended December 31, 2002.

"Our goal for this company has been quite simple. Continue to revolutionize the motorcycle industry with new and exciting parts and accessories, increase our sales, reduce our costs, and position our company for profitability. I think we'll accomplish that goal in 2004" stated Diamond Powersports CEO, Pierre Elliott.

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, engine valves, and other parts, accessories, and apparel. It manufactures over 200 motorcycle parts for the aftermarket motorcycle industry.