Fortune Diversified Industries, Inc. (OTC Bulletin Board: FDVI) announces record revenues and earnings for its fiscal year ending August 31, 2004. Revenues for fiscal year 2004 were $66,882,000 compared to $15,470,000 for year ended August 31, 2003, a 332% increase. Net earnings for 2004 were $2,402,000, compared to $115,000 for fiscal year 2003, a 1,999% increase. Earnings were $0.023 per share for fiscal year 2004, compared to $0.001 for fiscal year 2003.

About Fortune Diversified Industries, Inc.

Fortune Diversified's current operating focus is achieved through its three operating divisions [Division # 1, Telecommunication Infrastructure] James H. Drew Corporation; Innovative Telecommunications Consultants, Inc.; Telecom Technology Corporation, PDH Inc.; Cornerstone Wireless Construction Services, Inc; Cornerstone Wireless Services, Inc.; Magtech Services, Inc. and Starquest Wireless Services, Inc. [Division # 2, Human Resources Solutions] Professional Staff Management, Inc. [Division # 3, Manufacturing and Distribution] Nor-Cote International, Inc.; Kingston Sales Corporation; Commercial Solutions, Inc. For more information visit: http://www.fdvi.net/.

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks and uncertainties that could cause actual results to be materially different from those projected. Such risks may include, but are not necessarily limited to, changes in general economic conditions and other business considerations described more specifically in Fortune Diversified Industries Inc.'s Securities and Exchange Commission filings.