SOURCE: Global Diversified Industries, Inc.

September 08, 2005 13:19 ET

Global Diversified Industries, Inc. Announces Increase in Credit Line, Enabling Efforts to Ramp Up Revenues to at Least $20 Million in the Current Fiscal Year

CHOWCHILLA, CA -- (MARKET WIRE) -- September 8, 2005 -- Global Diversified Industries, Inc. (OTC BB: GDVI), focused on the modular building industry with emphasis on the education market, is pleased to announce that its credit facility with its current lender has been increased by $1 million, from $2 million to $3 million, with a one percent decrease in the interest rate.

"The confidence shown in Global Diversified by this financial institution gives us the funds we need to grow the business at a less expensive cost," said Phil Hamilton, CEO. "This is a major step forward in our efforts to increase revenues to at least $20 million in the current fiscal year. The lender also stressed that it will work with us for future needs."

Latest Developments:

--  Global Diversified Industries, Inc. focused on the modular building
    industry with emphasis on the education market, said today that revenues
    for the first quarter of the current fiscal year, ended July 31, 2005,
    exceeded $4.8 million, up from $1.9 million for the quarter ended July 31,
    2004.
    
--  Global Diversified Industries, Inc. focused on the modular building
    industry with emphasis on the education market, recently reported that
    revenue for the fiscal year ended April 30, 2005, totaled $9.2 million, up
    170 percent compared to revenues of $3.4 million in the previous fiscal
    year. "Our projected revenues are estimated to top $20 million in the
    current fiscal year and this current sale plays a key role in that result,"
    Mr. Hamilton said. "We urge our shareholders and others interested in the
    Company to keep up with our achievements and news about the Company and its
    products and services at our updated web site at http://www.gdvi.net."
    
--  Global Diversified Industries, Inc. focused on the modular building
    industry with emphasis on the education market, today announced it has won
    a $2.3 million bid to construct a two-story school building for the school
    district in Palm Springs, California.
    
About Global Diversified Industries, Inc.

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 on budget for 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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