Will this kind of diet and exercise drop the pounds?

That sounds pretty good, just dont starve yourself, it is better to eat a little bit every hour or so, so that you arent hungry and it keeps your metabolism in check, i would increase your protein and fiber intake, protein is proven to help tremendously in weight loss. Also one other thing I found to be a big help when I was losing weight 2 years ago is drinking green tea, it speeds up your metabolism and gives you energy to work out. Try it out, it might not taste so good but it works.