Mr. David Mitchell reports

WHITEKNIGHT ACQUISITIONS II INC. ANNOUNCES SECURED LOAN TO DIAMOND ESTATES WINES & SPIRITS LTD.

WhiteKnight Acquisitions II Inc. will, subject to approval by the TSX Venture Exchange, advance $225,000 to Diamond Estates Wines & Spirits Ltd. by way of a secured loan. The loan is non-interest bearing and is secured against all of the assets of Diamond.

WhiteKnight entered into a letter of intent with Diamond as set out in WhiteKnight's press release dated Dec. 19, 2012, to complete a business combination whereby all of the issued and outstanding securities of Diamond will be exchanged for securities of WhiteKnight. The transaction is intended to constitute the qualifying transaction of WhiteKnight as such term is defined in Policy 2.4 of the Corporate Finance Manual of the exchange.

The loan will be used by Diamond to finance continuing operating expenses, other general and administrative expenses being incurred in the day-to-day operations, costs associated with the transaction, and for general working capital purposes.

Completion of the transaction is subject to a number of conditions, including but not limited to exchange acceptance. There can be no assurance that the transaction will be completed as proposed or at all.