NEW BOARD PROPOSED FOR DIAMYD MEDICAL

Press Release, Stockholm, Sweden, December 7, 2007 – Diamyd Medical AB (www.omxgroup.com, ticker: DIAM B; www.otcqx.com, ticker DMYDY)

Diamyd Medical announced today that its major shareowners, Bertil Lindkvist and Anders Essen-Moller, propose that the following Board of Directors is elected for the new fiscal year at the upcoming Annual General Meeting on December 11, 2007.

1) Lars Jonsson, BSc, Swedish Honorary Consul in Seattle, founder and majority owner of the international group Stellar Holding (www.stellar.com). Jonsson plays an important role as a bridge between research and business as for example at the 2007 annual Seattle-Sweden Diabetes meetings in Seattle, Washington, and Linkoping, Sweden.

2) Christer Hagglund, BSc, Stockholm. Majority owner of the NOMX-listed service company Proffice AB that recently has moved into the health care service sector.

3) Sam Lindgren, MD, Lund, with more than 14 years experience from leading positions within drug development within the areas of diabetes (Novo Nordisk), CNS (Lundbeck) and Asthma (Astra).

4) As working Chairman, Anders Essen-Moller, MSc, Stockholm, founder of Diamyd Medical.