Press Release

NEW YORK, June 11 /PRNewswire-FirstCall/ -- Fortress Investment Group LLC (NYSE: FIG) announced today that Henry H. McVey has agreed to join the firm. McVey will be based in the New York office as a Managing Director leading Fortress's new business efforts focused on deep value public equity investing. Mr. McVey, previously a Managing Director and Chief U.S. Investment Strategist at Morgan Stanley & Co., has spent 12 years at Morgan Stanley in the equity research department.

Wesley R. Edens, Chief Executive Officer and Chairman of Fortress, commented, "Henry is a very talented individual and recognized as a leading investment strategist. We are excited that Henry will join Fortress and believe that he will be a great addition as we continue to build our equity investment products."

Fortress is a leading global alternative asset manager with approximately $36 billion in assets under management as of March 31, 2007. Fortress raises, invests and manages private equity funds, hedge funds and publicly traded alternative investment vehicles. Fortress was founded in 1998. For more information regarding Fortress Investment Group LLC or to be added to our e-mail distribution list, please visit www.fortress.com.

SOURCE Fortress Investment Group LLC

Contact: Lilly H. Donohue of Fortress Investment Group LLC, +1-212-798-6118