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Premature Announcement by Fortune Real Estate

Press Release: Fortune Real Estate Development
October 20, 2004
ORLANDO, FL -- Delroy Cowan, the CEO of Fortune Real Estate Development Corporation (Pink Sheets:FRDJ), has said the announcement on October 14, 2004 of a 2 for 1 forward split to take effect on October 28, 2004 was premature. An announcement will be made in the future at the appropriate time. A new record date will also be set at a later time.

For more information visit: http://www.fortunerealestatedevelopment.com

About Fortune Real Estate Development Corp.

Fortune Real Estate Development Corp. specializes in converting hotels into Condotels, a concept that has gained popularity in many international vacation resorts. It involves selling the hotels' rooms and suites to individual purchasers, who usually are families interested in a vacation rental, or purchasing a timeshare.

Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The company intends that such statements about the company's future expectations, including future revenues and earnings, and all other forward-looking statements be subject to the safe harbors created thereby. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results.
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CONTACT:  Fortune Real Estate Development Corp.
          Jerry Cohen
          (888) 229-9041, ext. 110
          or
          David Van Vort
          (786) 277-3484