FFI Receives Non-Compliance Notice From NYSE Amex

INDIANAPOLIS, July 2 /PRNewswire-FirstCall/ — Fortune Industries, Inc. (NYSE
Amex: FFI) (the “Company”) announced that it has been notified by the NYSE Amex
in a letter dated July 2, 2010 that it is not in compliance with Section 803(B)
(2)(c) of the NYSE Amex Company Guide (the “Company Guide”), in that the
Company’s audit committee is not comprised of at least two independent
directors. This non-compliance is a result of the May 7, 2010 resignation of one
of its independent directors, who also served on the Company’s audit committee.

Pursuant to Section 803(B)(6) of the Company Guide, the Company has until the
earlier of its next annual shareholders’ meeting or one year from the occurrence
of the event that caused the failure to comply with the requirement to regain
compliance. The Company is currently interviewing potential candidates for the
position of independent director and audit committee member, and expects to have
the position filled by the required timeframe.

About Fortune Industries, Inc.

Fortune Industries, Inc. is a professional employer organization (PEO) to small
and medium-sized businesses in 47 states, providing human resource management &
consulting, training & compliance, risk management, and benefits administration.

Fortune Industries, Inc. is based in Indianapolis, Indiana and is publicly
traded on the NYSE Amex exchange under the symbol FFI. Additional information
about Fortune Industries, Inc. can be found at www.ffi.net.

This press release and other statements by Fortune Industries, Inc. may contain
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements are typically
identified by words or phrases such as “believe,” “expect,” “estimate,”
“potential,” or future/conditional verbs such as “will,” “should,” and “could”
or the negative of those terms or other variations of them or by comparable
terminology. The absence of such terms, however, does not mean that the
statement is not forward-looking. Any such forward-looking statements are not
guarantees of future performance and involve risks and uncertainties that could
cause actual results to differ materially. Factors that might cause or
contribute to such differences, include, but are not limited to, the risks and
uncertainties that are discussed under the heading “Risk Factors” and
“Management’s Discussion and Analysis of Financial Condition and Results of
Operations” within the Company’s Form 10-K for the year ended June 30, 2009. The
Company undertakes no obligation to publicly update or revise any forward-
looking statements, whether as a result of new information, future events or
otherwise. Readers should carefully review the risk factors disclosed within the
Company’s Form 10-K and other documents filed by the Company with the Securities
and Exchange Commission.