CHOWCHILLA, Calif., May 6, 2004 (PRIMEZONE) -- Global Diversified Industries, Inc. (OTCBB:GDVI) focused on the modular building industry with emphasis on the education market, is pleased to report its wholly-owned subsidiaries Global Modular, Inc. and MBS Construction, Inc. are well ahead of original forecasted project bidding.
To date, our new order bookings along with letters of intent and verbal commitments (pending school board approval) total over $3.6 million. Our current log of projects slated for bid over the next sixty days total over $5.2 million dollars. These projects, which Global's subsidiary Global Modular, Inc. intends to bid, are all within our realm of expertise. Global Modular, Inc. expects to win a major portion of these bids due to their diversified design alternatives, which positions them to be more price competitive verses the competition.
Phil Hamilton, Global Diversified Industries, Inc. Chairman and CEO states, "There are two main reasons we are realizing the increase in new business activity. One is increased market demand for modular type product and the other is due to increased referrals from our existing customer base." He added, "As we continue to deliver quality products on a timely basis backed by quality service, we should surpass our year end revenue and earnings forecast by a significant margin."
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.