Press Release

NEW YORK, July 29 /PRNewswire-FirstCall/ -- Fortress Investment Group LLC (NYSE: FIG) announced today that it will release its second quarter results for the period ended June 30, 2008 on August 7, 2008 before the market opens.

In addition, management will host a conference call on Thursday, August 7 at 10:00 A.M. eastern time. A copy of the earnings release will be posted to the Investor Relations section of Fortress's website www.fortress.com.

All interested parties are welcome to participate on the live call. The conference call may be accessed by dialing 1-877-717-3044 (from within the U.S.) or 1-706-679-1521 (from outside of the U.S.) ten minutes prior to the scheduled start of the call; please reference "Fortress Second Quarter Earnings Call." A simultaneous webcast of the conference call will be available to the public on a listen-only basis at www.fortress.com. Please allow extra time prior to the call to visit the site and download the necessary software required to listen to the internet broadcast.

A telephonic replay of the conference call will also be available until 11:59 P.M. eastern time on Friday, August 15, 2008 by dialing 1-800-642-1687 (from within the U.S.) or 1-706-645-9291 (from outside of the U.S.); please reference access code "57630061."

About Fortress

Fortress is a leading global alternative asset manager with approximately $34.2 billion in assets under management as of March 31, 2008. Fortress raises, invests and manages private equity funds and hedge funds. 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, +1-212-798-6118, for Fortress Investment Group LLC