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11/29/2005 - Fortune Diversified Receives $7.5 Million in Institutional Funding

Publication: PRNewswire-FirstCall

INDIANAPOLIS (November 29, 2005) – Fortune Diversified Industries, Inc., the Company, a leading provider of wireless infrastructure services, commercial and industrial ink technology and outsourced human resource solutions services, announced today it has closed a $7.5 million institutional private placement. CB Capital Partners, Inc. acted as sole placement advisor in this transaction. The investor, Laurus Capital Management LLC, purchased a $7.5 million 3-year, Convertible Term Note at a $5.50 fixed conversion price. The transaction was done at a premium to the current stock price and included warrants.

"We are pleased to have closed this round of institutional investment with Laurus Capital Management. This transaction was concluded with beneficial terms to support our Company's long term growth plan. The proceeds will fund our working capital requirements with respect to our new contracts and assist in the deployment of resources to service our new clients, with particular focus on building earnings through profitability," said John Fisbeck, President and Chief Executive Officer.

"Our market space is experiencing significant demand and growth as represented by our latest contracts with our new and current wireless carriers. The strategic positioning of our wireless division will allow us to capitalize on the initial wireless infrastructure expenditures currently estimated at $69 billion over the next five years," John Fisbeck further stated.

About Fortune Diversified Industries, Inc.
Fortune Diversified Industries' current operating focus is achieved through its three operating divisions. The Wireless Infrastructure Division includes James H. Drew Corporation, Innovative Telecommunications Consultants Inc., Telecom Technology Corporation, PDH Inc., Cornerstone Wireless Construction Services Inc., Magtech Services Inc. and Starquest Wireless Services Inc. The Human Resources Solutions Division includes Professional Staff Management, Inc. and Century II. The Manufacturing and Distribution Division includes Nor-Cote International Inc., Kingston Sales Corporation, and Commercial Solutions Inc.

More information can be found at: http://www.ffi.net/

Forward-Looking Statement
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.

CONTACT: John Fisbeck, President-CEO of Fortune Diversified Industries,Inc., +1-317-472-8865, www.ffi.net/