SOURCE: Global Diversified Industries

November 02, 2005 10:00 ET

Global Diversified Industries, Inc. Watches Los Angeles Elections

Approval by Voters Could Mean More Than $13 Billion Will Be Available for School Construction

CHOWCHILLA, CA -- (MARKET WIRE) -- November 2, 2005 --Global Diversified Industries, Inc. (OTC BB: GDVI), focused on the modular building industry with emphasis on the education market, said today that the upcoming special election in Los Angeles on November 8, to approve a $3.9 billion bond to continue renovation and replace 160 new schools throughout the 727,000-student district, is a perfect example of the pent up demand for new school buildings in California. "This vote is a microcosm of special elections to be held throughout the state showing that the need to repair and replace schools throughout California is real," said Phil Hamilton, Global Diversified CEO.

"Los Angeles votes have previously approved billions of dollars for its schools from previous bond issues," said Hamilton. "This final bond issue would allow the school system to complete its planned opening of all the new schools and to renovate hundreds of older campuses. Even if the bond issue does not pass, the LA School District still has approximately $9.5 billion from previous elections still to spend."

"We anticipate, with the recent success of our Aurora designs, that Global Diversified will play a significant role in this major effort to rebuild our state's school systems," continued Hamilton. "This is also evidence of the amount of potential business that is available to companies like ours in our home state of California."

Global Diversified Industries, Inc. is a holding company with two wholly owned subsidiaries, Global Modular, Inc. and MBS Construction, Inc. Both are engaged in the modular construction marketplace with an emphasis on educational projects. They incorporate the latest in construction software, allowing them to better manage projects incorporating cost vs. profit ratios, construction and manufacturing schedules, purchasing, receiving and other facets of industrial management. The Company's work is found in Northern and Southern California, with numerous projects currently being considered at school systems throughout the state.

This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements involve risk and uncertainties that could cause actual results to differ materially from any future results described within the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company's reports filed with the Securities and Exchange Commission. The forward-looking information provided herein represents the Company's estimates as of the date of the press release, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this press release.

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