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FDVI Announces 398% Revenue Increase Quarter over Previous Year's Quarter

INDIANAPOLIS - PRNewswire-FirstCall - Sept. 10

INDIANAPOLIS, Sept. 10 /PRNewswire-FirstCall/ -- Fortune Diversified Industries, Inc. (BULLETIN BOARD: FDVI) announces unaudited revenues for fiscal year end August 31, 2004. Unaudited net revenues are $65.7 million as compared to $15.5 million fiscal year ended August 31, 2003, or a 324% increase.

Net revenues increased 398% for the three months ended August 31, 2004 as compared to the same period the prior year. Net revenues were $25.4 million for the three months ended August 31, 2004 compared to $5.1 million for the three months ended August 31, 2003.

Net revenues increased 48% for the fiscal fourth quarter ended August 31, 2004 as compared to the third fiscal quarter ended May 31, 2004. Net revenues were $25.4 million for the fourth fiscal quarter as compared to $17.2 million for the third fiscal quarter.

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.; 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.

Fortune Diversified Industries, Inc.

Web site: http://www.fdvi.net/

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PERIOD ENDING		31-May-04	29-Feb-04	30-Nov-03	31-Aug-03
Total Revenue		17,255	12,810	10,206	5,152
Cost of Revenue		13,200	9,658	7,451	3,857
Gross Profit		4,055	3,152	2,755	1,295
	Operating Expenses
	Research Development	-	-	-	-
	Selling General and Administrative	3,037	2,457	2,202	1,299
	Non Recurring	-	-	-	-
	Others	235	231	215	342
	Total Operating Expenses	-	-	-	-
Operating Income or Loss		783	464	338	(346)
	Income from Continuing Operations
	Total Other Income/Expenses Net	22	39	(9)	61
	Earnings Before Interest And Taxes	805	503	329	(285)
	Interest Expense	141	94	95	71
	Income Before Tax	664	409	234	(356)
	Income Tax Expense	25	-	-	-
	Minority Interest	-	-	-	-
	Net Income From Continuing Ops	639	409	234	(356)
	Non-recurring Events
	Discontinued Operations	-	-	-	-
	Extraordinary Items	-	-	-	-
	Effect Of Accounting Changes	-	-	-	-
	Other Items	-	-	-	-
Net Income		639	409	234	(356)
Preferred Stock And Other Adjustments		-	-	-	-
Net Income Applicable To Common Shares		$639	$409	$234	($356

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