Diversified Product Inspections, Inc. Plans Joint Venture to Provide Vulnerability Assessments

Business Wire, Oct 15, 2004

OAK RIDGE, Tenn. -- Diversified Product Inspections, Inc. (OTCBB:DPRI), a provider of independent product failure analysis, air contamination and fire investigations for the Insurance Industry announced that DPI is in the final stages of creating a joint venture for the purposes of providing vulnerability assessments for commercial businesses, utilities, and public and private institutions.

John VanZyll, president and CEO, stated that, "The realities that 9/11 brought to our country and the creation of the Department of Homeland Security, is mandating that certain segments of our society perform vulnerability assessments on their facilities and work force to protect against internal and external threats. DPI is forming a joint venture, Vulnerability Assessment Group (VAG), whose members will include retired FBI agents who are experts in terrorism, civil and criminal investigations, hostage negotiations, bomb technician examinations, personnel background examinations, polygraph examinations and preparations of anti-terrorism security programs. In addition to these capabilities, another part of this joint venture will be Materials and Chemistry Laboratory, Inc. (MCLinc) with the capabilities to identify unknowns, to analyze anything from airborne contaminates to radioactive and hazardous wastes. With DPI providing analysis of potential hazards due to product failures in both public and private facilities through DPI's HomeCheckSafety Program, we feel that VAG has the potential to provide important services to protect economic assets in both the public and private sectors. Another element of the joint venture will be IT (information technology) vulnerability assessments for clients. The plan is to have the joint venture operating by January 1, 2005. The joint venture will also pursue available governmental grant monies to help in provide funding."

About Diversified Product Inspections, Inc. (www.dpi-inc.com)

Launched in 1991 and headquartered in Oak Ridge, Tenn., Diversified Product Inspections, Inc. provides expertise and unbiased, independent investigations on product failures, air contamination and fire investigations of all multi-billion dollar markets which directly impact three groups: the insurance industry, manufacturers and consumers. In addition, DPI has developed an array of comprehensive services for these three targeted groups, giving the company the ability to better inform consumers of defective products and recalls (http://www.homechecksafety.com), improve quality control processes with manufacturers and work with the insurance industry to recover funds via subrogation - a process whereby the insurer enforces its right to recoup from any third party that caused the loss on behalf of the policyholder.

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Act of 1995. The words "believe," "expect," "anticipate" and "project," and similar expressions identify forward-looking statements, which speak only as of the date the statement was made. Such statements may include, but not be limited to, projections of revenues, income or loss, expenses, plans, and assumptions relating to the foregoing. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Future results could differ materially from those described in forward-looking statements.