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O2Diesel Announces That Falcon Bus Servicing the Chicago Public Schools Has Become the Second Fleet to Join the CityHome(TM) School Bus Program With the Participation of JCDecaux, a World Leader in Outdoor Advertising

Posted on: Monday, 2 October 2006, 12:00 CDT

O2Diesel Corporation (AMEX: OTD), a pioneer in the development of cost-effective, cleaner-burning, diesel fuels for centrally fueled fleets of all types, today announced the addition of Falcon Bus as the second school bus fleet to join its School Bus Program under CityHome(TM).

On September 20, 2006, O2Diesel officially announced the launch of the CityHome(TM) School Bus Program with the introduction of the first fleet, Dakota Bus, servicing the Spearfish Public Schools.

Falcon Bus is converting a fleet of twenty-seven school buses to O2Diesel's clean burning O2Diesel(TM), a blend of 7.7% ethanol, regular diesel and less than 1% of the company's proprietary and patented additive technology. The diesel fuel can be low sulfur diesel (LSD) or ultra-low sulfur diesel (ULSD), with or without a Biodiesel component. Ethanol is rich in oxygen, which aids the combustion process to significantly reduce diesel exhaust emissions.

"The CityHome(TM) marketing program allows me to provide the children of Chicago a cleaner burning fuel at no additional cost. It improves the air quality in and around the buses. Using ethanol creates American jobs and supports the local agricultural economy." Ed Peterson, President of Falcon Transportation, Inc.

"Falcon's commitment to the CityHome School Bus Program signifies further validation of O2Diesel's ability to provide an immediate solution to air quality concerns in the nation's school buses and other centrally fueled diesel powered fleets," said Alan Rae, CEO of O2Diesel.

"After Spearfish, this is another significant step forward in reducing school bus pollution," said Tom Slunecka, Executive Director for the Ethanol Promotion and Information Council (EPIC). "Riding a school bus every morning should not be a health hazard for our nation's children."

One of the new partners joining the CityHome School Bus program is JCDecaux, a world leader in outdoor advertising. (www.jcdecauxna.com).

"JCDecaux Corporation has always been proactive with its involvement in environmental programs. It is a part of the JCDecaux global culture. Recently JCDecaux launched a new program in Europe named Cyclocity(R). Cyclocity is a response to concerns about urban mobility and pollution in key cities. City officials and JCDecaux are providing the public with the possibility to ride a bicycle in the downtown area of key European cities," said Jean Luc Decaux Co-CEO of JCDecaux North America. "For JC Decaux, innovation in urban areas has always been a key preoccupation and the CityHome(TM) school bus program is bringing an immediate solution to health concerns for kids by using O2Diesel(TM). JCDecaux is proud to be associated to this pilot program with Falcon transportation in Chicago."

In partnership with the National Arbor Day Foundation, a tree will be planted in Illinois for each child who rides these school buses.

About O2Diesel: The Company and Its Fuel Technology

O2Diesel Corporation (AMEX: OTD) and its U.S. subsidiary O2Diesel, Inc., is a pioneer in the commercial development of a cleaner-burning diesel fuel alternative that provides exceptional performance and environmental qualities for centrally fueled fleets and off-road equipment of all kinds. Engineered and designed for universal application, O2Diesel(TM) is an ethanol-diesel blend that substantially reduces harmful emissions without sacrificing power and performance. Extensive independent and government-recognized laboratory and in-use field tests have demonstrated the effectiveness of O2Diesel(TM) -- the introduction of this cost-effective, cleaner-burning diesel fuel is now underway in the United States and other global markets. For more information please refer to www.o2diesel.com.

Forward-Looking Statements

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding O2Diesel Corporation's business which are not historical facts are 'forward-looking statements' that involve risks and uncertainties. Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation, the failure to obtain adequate financing on a timely basis and other risks and uncertainties. Actual results could differ materially from those projected in the forward-looking statements, as a result of either the matters set forth or incorporated in this report generally or certain economic and business factors, some of which may be beyond the control of O2Diesel. These factors include adverse economic conditions, entry of new and stronger competitors, inadequate capital, unexpected costs, failure to gain product approval in the United States or foreign countries for the commercialization and distribution of our products, failure to capitalize upon access to new markets and failure in obtaining the quality and quantity of ethanol necessary to produce our product at competitive price. O2Diesel disclaims any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events. "O2Diesel" and "CityHome" are trademarks of O2Diesel Corporation.

 Contact: O2Diesel Corporation Alan Rae +1 (302) 266 6000  Or  Alliance Advisors, LLC Mark McPartland +1 (910) 221-1827  

SOURCE: O2Diesel Corporation

Source: MARKET WIRE

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