ADGI Subsidiary Global Transmedia Reports Net Income for 2001.

Business Editors

NEW YORK--(BUSINESS WIRE)--April 17, 2002

American Diversified Group, Inc. (OTCBB:ADGI), announced today that its wholly owned subsidiary, Global Transmedia Communications Corporation, reported net income of over $333,000 in 2001 compared to a net loss of $176,000 in 2000. Global's revenues exceeded $3.11 million, more than a 22% increase from $2.54 million in 2000.

Vivian Manevich, President of Global Transmedia, stated that the company has just begun benefiting from the current restructuring and that the transformation continues. "The year 2001 was a very severe year for the telecommunications industry as a whole but Global has successfully continued to grow and prosper. We have increased revenues and gross margin, and have decreased our overhead substantially. The trend continues as the first quarter of this year already shows a remarkable increase in revenues and we're just in the process of ramping up."

Jerrold Hinton, PhD, President of ADGI, states, "Global Transmedia is the focal point of our organization. Everything we did in 2001 revolved around Global and we are pleased that the results are beginning to show. The organizational and management changes that were made came at a cost for ADGI but has now cleared the way for the future as clearly evidenced by Global's operations. We've had a great beginning in 2002 and we expect even more significant growth over the next quarters and years."

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.