SAN DIEGO, May 20, 2004 /PRNewswire-FirstCall via Comtex/ -- Dalrada Financial Corporation (OTC Bulletin Board: DRDF) today announced that it filed its quarterly report for its second quarter on Form 10-QSB.

Dalrada reported revenues of $3.5 million for the three-month period ended March 31, 2004, a 820% increase over the same period one year ago. Year-to-date revenues were $9.5 million; an increase of approximately $8 million (429%) over the prior year.

Third quarter revenues included $2.9 million from the Company's fast-growing temporary staffing business segment, including CallCenterHR(TM), MedicalHR(TM), and Jackson Staffing. Year-to-date revenues from temporary staffing activities were $6.3 million.

Dalrada's professional employer services (PEO) business segment also grew substantially. During the third quarter, PEO revenues were $475 thousand on gross billings of $3.2 million representing a 206% increase from the third quarter of last year. Year-to-date, PEO revenues were $2.5 million on billings of $12.1 million, an increase of 215% from the prior year.

Dalrada reported a profit on operations for the quarter ended March 31, 2004 of $484 thousand, and a net profit of $279 thousand ($0.01 per share on continuing operations). The Company's year-to date loss, however, was $3.1 million ($0.01 per share).

During the third quarter, Dalrada changed its ownership position in Greenland Corporation, resulting in a substantial reduction of operating expenses. Additionally, the disposition of Greenland resulted in a gain of $5 million against a loss on discontinued operations of $693 thousand.

Brian Bonar, Chairman and CEO commented, "We are extremely pleased with this quarter's results and are focused to continue moving in the direction of greater revenues and profits. As previously disclosed, over the past few months we have significantly reduced our operating expenses and have accomplished a number of our goals to increase our financial services business."

About Dalrada Financial Corp.

Dalrada Financial Corporation (OTC Bulletin Board: DRDF) was founded in 1982. Headquartered in San Diego, California, the Company provides a variety of professional services related to human resources to businesses.

A number of Dalrada's subsidiaries, including SourceOne Group(TM), and ProSportsHR(TM) are professional employer organizations that provide a variety of personnel and human resources services to small to medium-sized businesses. Further information can be obtained on the following internet sites: www.prosportshr.com and www.sourceonegroupinc.com.

The Company's Jackson Staffing, Inc., MedicalHR(TM), and CallCenterHR(TM) subsidiaries are temporary staffing organizations, which provide full-service staffing services to specialized industries.

The Company owns controlling interest in Quik Pix, Inc. (Pink Sheets: QPIX), a leading visual marketing support firm located in Buena Park, California. The company's patented PhotoMotion(TM) is a unique color medium of multi-image transparencies. Information on the Company is available at www.colorvisuals.com. QPIX also produces and distributes the ColorBlind(R) suite of software, which is devoted to color management for desktop and commercial printing and graphic arts. More information is available at www.color.com.

Information on the Company is available at the ITEC Web site at www.dalrada.com.

Statements in this press release may constitute forward-looking statements and are subject to numerous risks and uncertainties, including the failure to complete successfully the development of new or enhanced products, the Company's future capital needs, the lack of market demand for any new or enhanced products the Company may develop, any actions by the Company's partners that may be adverse to the Company, the success of competitive products, other economic factors affecting the Company and its markets, seasonal changes, and other risks detailed from time to time in the Company's filings with the U.S. Securities and Exchange Commission. The actual results may differ materially from those contained in this press release. The Company disclaims any obligation to update any statements in this press release.

For further information, please contact: Brian Bonar, Chief Executive Officer of Dalrada Financial Corporation, +1-858-277-5300, bbonar@dalrada.com.

SOURCE Dalrada Financial Corporation

Brian Bonar, Chief Executive Officer of Dalrada Financial
Corporation, +1-858-277-5300, bbonar@dalrada.com
http://www.prnewswire.com

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