ADGI Announces Interim Status Report.

Business Editors/Technology Writers

NEW YORK--(BUSINESS WIRE)--June 13, 2002

American Diversified Group, Inc. (OTCBB:ADGI) today announced that ADGI's progress for the year and the second quarter was on target to meet the previously announced annual goals and that management fully expected the second quarter numbers to substantially exceed announced revenues and earnings as was the case for the first quarter.

The previously announced conservative targets were revenues of $ 1.5 m for the first quarter, $ 2.5 m for the second, $ 3.5 m for the third, $ 4.5 m for the fourth for total annual revenues of $ 12 m with earnings projected at a 10 percent margin. The numbers for the first quarter have already exceeded these projections with reported revenues of over $ 2.3 m and profits exceeding $ 540,000. Network operations for ADGI are engaged in testing and turning up 10 to 15 new carriers in the months of June and July. This will add to the existing network traffic and provide new traffic for networks to Malaysia, Australia and Venezuela in the third quarter.

ADGI's Chairman Mr. Kostro and CEO Mr. Huff will be traveling to Sidney, Australia the third week in June to finalize the IPW, Ltd. agreements. This relationship will prove to be very advantageous to ADGI from several standpoints, key of which will be substantial continuing revenues with significant profit margins that will provide financial fuel for acquisitions. In July, the Chairman and CEO will also be in Malaysia for the turn up of the ESP system for Time dot.Com as was previously announced. Mr. Huff, ADGI's CEO, gave an interview yesterday. It can be heard at http://www.CEOCast.com. Mr. Huff also gives some comments about the Company's progress and status in the second quarter and their plans for expansion through acquisitions.

The ADGI web site will be getting a face-lift in the months of June and July. There will be a series of announced meetings held by Timothy Huff, CEO and Jerrold R. Hinton, President, in several key cities starting in the third quarter. These will be designed to convey the Company's strategic plans for the future and answer shareholder questions concerning their investment in ADGI.

Several key management personnel will be moving to Miami in the second and third quarters so as to solidify key personnel at our corporate offices.

Certain statements in this release constitute forward-looking statements or statements which may be deemed or construed to be forward-looking statements within the meaning of the Private Placement Act of 1995. The words "forecast", "project", "intend", "expect", "should", "would", and similar expressions and all statements, which are not historical facts, are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance (finance or operating) or achievements to differ from future results, performance (financing and operating) or achievements expressed or implied by such forward-looking statements. The above are more fully discussed in the Company's SEC filings.