PRESENTATION AT OMX - DIAMYD MEDICAL TO COMMENT PHASE II RESULTS FROM ITS TYPE 1 DIABETES STUDY

Press Release, Stockholm, Sweden – August 21, 2006 – Diamyd Medical AB (SWEDEN OMXS: DIAM B; USA ADR: DMYDY)

Diamyd Medical announces that it will comment on the results of its phase II clinical trial in type 1 diabetes patients. The press conference will be held at the Stockholm Stock Exchange on Wednesday August 23 at CET 11.00 in the large auditorium. The press conference will also be broadcasted over internet ( http://www.mamato.se/clients/fine/diamyd/060823/ ). Speakers at this web-casted event include: i) Johnny Ludvigsson, Professor of Pediatrics, Faculty of Health Sciences, Linköping University, and Principal Investigator of the ongoing Diamyd™ Phase IIb clinical trial in 70 children with recent onset Type 1 diabetes; ii) Anders Essen-Moller, President and CEO, Diamyd Medical, Stockholm