The fluorescence quantum yield of a red naphthalenediimide dye (rNDI) with amino and Br core substituents has been found to decrease by a factor of almost 2 by going from S1 ← S0 to S2 ← S0 excitation. Time-resolved spectroscopic measurements reveal that this deviation from the Kasha−Vavilov's rule is due to an ultrafast, < 200 fs, intersystem- crossing (ISC) from the S2 state to the triplet manifold, due to the ππ* → nπ* character of the transition and to the presence of the heavy Br atom. In non-core substituted naphthalenediimide (pNDI), ISC is slower, ∼2 ps, and was found to be reversible on a time scale shorter than that of vibrational cooling. The fluorescence and triplet quantum yields of rNDI, thus, can be substantially changed by a simple variation of the excitation wavelength.