[v117554_header1.jpg]
Allegro Biodiesel Corporation
6033 West Century Blvd., Suite 1090
Los Angeles, California 90045
Tel: (310) 670-2093
Fax: (310) 670-4107
www.allegrobiodiesel.com 

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June 13, 2008
 
Via Federal Express
 
Attention: Ronda Carson
JPMorgan Chase Bank, N.A.
Escrow Services
333 South Grand Avenue, 36th Floor
Los Angeles, CA 90065
 

 
Re:
Joint Escrow Instructions re Escrow Agreement (“Escrow Agreement”) by and among
Diametrics Medical, Inc., the Members and JPMorgan Chase Bank, N.A. dated as of
September 20, 2006 

 
Ladies and Gentlemen:
 
Allegro Biodiesel Corporation (fka Diametrics Medical, Inc., “Allegro”) has
submitted to you various demands for release from the Escrow Deposit under the
Escrow Agreement. The parties to the Escrow Agreement have not resolved any of
such claims other than Allegro’s demand dated February 22, 2008, for the release
of $47,448.49 relating to certain taxes. Joint escrow instructions for the
release of such amount were delivered to you on or about May 16, 2008.
 
Notwithstanding that our remaining claims continue to be outstanding, the
parties to the Escrow Agreement have agreed to release a portion of the Cash
Escrow Deposit and a portion of the Stock Escrow Deposit as set forth below.
 
Accordingly, you are hereby instructed to release (i) to Allegro from the Cash
Escrow Deposit the sum of $151,628.08 and from the Stock Escrow Deposit, 124,961
shares of Allegro common stock and (ii) to the Members from the Cash Escrow
Deposit the aggregate sum of $201,129.30 and from the Stock Escrow Deposit an
aggregate of 126,250 shares of Allegro common stock. It is requested that these
funds and shares be released as promptly as possible.
 

 
Funds released to Allegro shall be paid by wire transfer to the following
account:
 
Bank of America
4754 Admiralty Way
Marina Del Rey, CA 90292
ABA No. 026009593
 
Account Number 09145-41651
 
Shares of Allegro common stock released to Allegro shall be delivered to the
following address:

 

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Allegro Biodiesel Corporation
6033 West Century Blvd., Suite 1090
Los Angeles, CA 90045
Attention: W. Bruce Comer III
Telephone No.: (310) 670-2721

 
Funds released to the Members shall be paid by wire transfer to Troy Villa at
Breazeale, Sachse & Wilson LLP, using the following information:
 

 
Regions Bank
8440 Jefferson Hwy.
Baton Rouge, LA 70809
ABA No. 062005690
Account Number 1450901416
 

 

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[v117554_header1.jpg]
Allegro Biodiesel Corporation
6033 West Century Blvd., Suite 1090
Los Angeles, California 90045
Tel: (310) 670-2093
Fax: (310) 670-4107
www.allegrobiodiesel.com 

 

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Shares of Allegro common stock released to the Members shall be delivered to the
following address:
     
Breazeale, Sachse & Wilson, L.L.P.
23rd Floor, One American Place
301 Main Street
Baton Rouge, LA 70821-3197
Attn: B. Troy Villa
Telephone No.: (225) 387-4000
     
Capitalized terms used herein without definition have the meaning ascribed
thereto under the Escrow Agreement.

 
 

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[v117554_header1.jpg]
Allegro Biodiesel Corporation
6033 West Century Blvd., Suite 1090
Los Angeles, California 90045
Tel: (310) 670-2093
Fax: (310) 670-4107
www.allegrobiodiesel.com 

 

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  Please call Stephen Blevit of Sidley Austin LLP at 213-896-6029 with any
questions regarding these joint escrow instructions.       Very truly yours,    
ALLEGRO BIODIESEL CORPORATION

 
 
 
 
By:       /s/ W. Bruce Comer, III                                    
Name: W. Bruce Comer, III
Title:   Chief Executive Officer
 
 
/s/  Darrell Dubroc                                      
DARRELL DUBROC,
as Member Representative

 

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