EXHIBIT 4

                                LETTER AGREEMENT

November 15, 2000

Hawkeye, Inc.
Attn:  Arthur L. Cahoon, President
1200 Riverplace Blvd., Suite 902
Jacksonville, FL  32207

Mid-Ohio Securities Corp., FBO
R. Lee Smith (Acct. 15051)
ATTN:  R. Lee Smith
1200 Riverplace Blvd., Suite 902
Jacksonville, FL 32207

         RE: Securities Purchase Agreement dated November 15, 2000 (the
             "Agreement"),  among Fortune Financial, Inc. (the "Company"),
             Hawkeye, Inc. ("Hawkeye") and Mid-Ohio Securities Corp., FBO R.
             Lee Smith (Acct. 15051) ("Smith", together with Hawkeye being
             the "Purchaser")

Gentlemen:

         In order to induce Purchaser to enter into and conclude the Agreement,
the Company desires to execute and deliver this letter agreement setting forth
certain obligations of the Company to Purchaser. Capitalized terms used herein
that are not defined in this letter have the meaning set forth in the Agreement.

         If the Company fails to close by December 31, 2000 the Crown
Transaction, on substantially the same economic terms as described in the
November 14, 2000, draft Preferred Stock Purchase Agreement pertaining thereto,
or a substantially similar transaction or series of transactions with other
investors, the Purchaser shall be entitled to purchase at any time and from time
to time up to $13,000,000 of additional Securities on the same terms and
conditions as set forth in the Agreement (except payment of the Notes shall
provide for principal amortization of $100,000 per month with a balloon payment
in 36 months), and in the same proportions as between Hawkeye and Smith as set
forth in the Agreement or in such other proportions as Hawkeye and Smith may
agree. The Company acknowledges that this letter agreement is a material
inducement to Hawkeye and Smith to enter into the Agreement and that absent this
letter agreement, Hawkeye and Smith would not enter into and conclude the
Agreement.

                                         Fortune Financial, Inc.


                                         By: /s/ JOHN WORTMAN
                                            ----------------------------------
                                            John Wortman, President

                                       2