BOCA RATON, Fla., March 29 /PRNewswire-FirstCall/ -- H2Diesel Holdings, Inc. (OTC:HTWO) (BULLETIN BOARD: HTWO) today announced it has entered into a Letter of Intent with Twin Rivers Technologies, LP to advance the development of H2Diesel's first production plant at Twin Rivers' facility located in Quincy, MA. The Letter of Intent contemplates an exclusive period during which Twin Rivers will negotiate with H2Diesel regarding definitive agreements covering the siting, construction, operation and management of H2Diesel's proposed initial 25 million gallon per year production facility, the supply of vegetable oils and other commodity feedstocks and the off take of finished bio-fuel by Twin Rivers from the facility. David A. Gillespie, President and CEO of H2Diesel, said, "We're excited to be working with Twin Rivers Technologies, a recognized leader in oleochemical production and commodity management. In addition to Twin Rivers' great technical expertise, the facility's strategic location in Quincy, MA provides a very desirable combination of water access, available storage and other infrastructure. We believe that an alliance with Twin Rivers would provide us with a significant competitive advantage as we continue to commercialize our proprietary technology for manufacturing vegetable oil and animal fat based bio-fuel." Ian Edwards, Chief Executive Officer of Twin Rivers Technologies said, "We think that H2Diesel's advanced Bio-fuel has the potential to be a breakthrough technology in the alternative fuels space and we want to be part of it. We believe that a future relationship with H2Diesel represents an opportunity for additional diversification and a further enhancement of our strong bio-fuel business." About H2Diesel Holdings, Inc. H2Diesel is a development stage company that holds an exclusive license for North America, Central America and the Caribbean to proprietary technology for the manufacture of an alternative "bio-fuel" from domestically produced vegetable oils and animal fats that is intended to be marketed as a new class of bio-fuel or fuel additive for power generation, heavy equipment, marine use and as a heating fuel. The Company further believes its proprietary bio-fuel will provide a cheaper, renewable alternative energy source with significantly lower emissions than traditional fuels and a cleaner and more efficient alternative to heating oil. H2Diesel's business model calls for the establishment of bio-fuel production facilities directly and through sublicensing of its technology to qualified licensees. About Twin Rivers Technologies, LP Twin Rivers Technologies is one of the largest and fastest growing oleo chemical producers in North America. The Company's management team has an average of over two decades of experience in the chemicals industry and its operations' staff also has more than 20 years of Oleo chemical production and related processing technology experience. Forward Looking Statements This news release contains forward-looking statements. These forward- looking statements concern the operations, prospects, plans, economic performance and financial condition of H2Diesel Holdings, Inc. (the "Company") and are based largely on the Company's beliefs and expectations. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results expressed or implied by such forward-looking statements. The risks and uncertainties related to the Company's business include all the risks attendant a development stage business in the volatile energy industry, including, without limitation, the risks set forth under the caption "Risk Factors" in the Company's Current Report on Form 8-K filed on October 26, 2006 and in the Company's Annual Report on Form 10-KSB for the fiscal year ended December 31, 2006. In particular, the ability of the Company to complete its initial production facility will be subject to uncertainties regarding, among others, obtaining necessary financing for the construction and complexities related to the Company's bio-fuel which has not yet been produced on a commercial scale. CONTACT: David Gillespie, President & CEO Carl Hymans H2Diesel Holdings, Inc. G. S. Schwartz & Co. H2Diesel, Inc. 212-725-4500 ext. 304 713-973-5720 DATASOURCE: H2Diesel Holdings, Inc. CONTACT: David Gillespie, President & CEO of H2Diesel Holdings, Inc., +1-713-973-5720, or Carl Hymans of G. S. Schwartz & Co., +1-212-725-4500 ext. 304,

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