ADGI Appoints Hornblower & Weeks, Inc. as Investment Banker.

Business Editors

NEW YORK--(BUSINESS WIRE)--Jan. 16, 2002

American Diversified Group, Inc. (OTCBB:ADGI), announced today that it has appointed Hornblower & Weeks, Inc. as its Investment Banker.

Hornblower & Weeks, Inc. is a full service brokerage firm with offices on Wall Street with over 100 years of experience and an exceptionally high success rate in fulfilling the requirements that enable their clients to meet their needs and grow in their respective industries. The company provides research, marketing and trading services for institutional, corporate and individual clients and specializes in providing investment banking services tailored to the specific needs of companies.

Hownblower & Weeks, commented: "We are extremely excited about this engagement with ADGI. We have been following ADGI over the last two years and they have shown steady growth and operations. We strongly believe that with our ability to pursue financing and capital structure possibilities, we will be an integral part of ADGI's fundamental growth. We will evaluate traditional financing possibilities as well as alternate capital structure to assist the Company in further developing their continued growth and acquisition strategies."

Jerrold R. Hinton, President of ADGI, stated: "We are pleased to work with Hornblower & Weeks. They are a well-recognized investment banking firm and have had a successful track record, especially over the past few years. They recognize the significant and timely opportunity that ADGI represents. Hornblower & Weeks recognizes the basic fundamental strength of ADGI, and we are confident that as we move forward with our business model, Hornblower & Weeks will be there working with us, side-by-side." Dr. Hinton went on to say, "With the professional assistance and capabilities of Hornblower & Weeks, we expect the markets to begin to realize and recognize the true worth of our company and its value for our shareholders."

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.