Global Diversified Industries, Inc. Subsidiary Securing New Business and Developing Backlog.Business Editors CHOWCHILLA, Calif.--(BUSINESS WIRE)--June 17, 2003 Phil Hamilton, chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Global Diversified Industries, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :GDVI) is pleased to announce their wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. MBS See Mb/sec. MBS - mobile broadband services Construction, Inc. ("MBS") has recently secured new orders with several school districts in Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, in conjunction with their modernization programs. Coachella USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. located in the southeastern market, called upon MBS to perform a variety of on-site projects worth over $436,000 in revenue to MBS. Also, two other schools (one public and one private) in Southern California have contracted with MBS to perform similar site related tasks in an effort to complete their modernization projects before the start of their fall school terms. The total order value to MBS for these three schools is over $736,000. Rob Cronin, general manager of MBS, remarks, "I believe these orders are just the start of many orders to come during the next 12 months." Cronin adds, due to the massive amount of modernization projects currently in the planning and/or construction stage, schools will need the services of an on-site, hands-on company who can help them renovate and relocate their existing portable classrooms, along with supplying them with new modular type structures including portable classrooms and complete custom design wing additions. Cronin also states they are on target to meet and exceed earlier forecast of $8,000,000 in new business before year-end 2003. About Global Diversified Industries, Inc. Global Diversified Industries, Inc. is a holding company controlling three wholly owned subsidiaries. For investor information, contact Adam DeBard at Global Diversified Industries, Inc. at 559/665-5800. Note: Certain statements in this news release may contain forward looking information with the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated statements. |
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