SOURCE: Global Diversified Industries Inc

August 18, 2005 11:27 ET

Global Diversified Industries, Inc. Year-End Revenues Top $9.2 Million, Up 170 Percent; Net Income Up 217 Percent; Manufacturing Plant Has Capacity to Provide $50 Million in Sales

CHOWCHILLA, CA -- (MARKET WIRE) -- August 18, 2005 -- Global Diversified Industries, Inc. (OTC BB: GDVI), focused on the modular building industry with emphasis on the education market, yesterday 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.

Net income for the fiscal year ended April 30, 2005 totaled $501,956 compared to a loss of ($428,067) in the previous year, a 217 percent increase. The Company reported that working capital increased to $2.1 million, up from $1.5 million, and that total stockholders' equity was up 32 percent to $3.9 million from $2.97 million the previous fiscal year.

"We are especially pleased to report four straight quarters of positive earnings for the year," said Phil Hamilton, CEO. "Our 100,000 square foot manufacturing facility in Chowchilla has the capacity to provide us $50 million in revenues annually and we are delighted to be rapidly growing toward that goal."

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. For investor information contact:

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