Press Release

NEW YORK--(BUSINESS WIRE)-- Fortress Investment Group LLC (NYSE: FIG) today announced that managing director and securitized products portfolio manager Greg Finck will move to the firm’s traditional asset management arm, Logan Circle Partners, L.P., as head of the newly created Mortgage and Asset-backed Portfolio Strategies team (‘MAPS’). Mr. Finck will lead Logan Circle’s dedicated structured product activities, focusing on the residential mortgage-backed securities (RMBS) and asset-backed securities (ABS) markets. Mr. Finck, and the MAPS team, will complement Logan Circle’s existing structured products professionals, led by Al Leone, adding depth and breadth in these critical markets. Mr. Finck will be based in Logan Circle's New York office, and will report directly to Logan Circle CEO and CIO Jude Driscoll.

"The formation of the MAPS business under Greg’s leadership highlights Logan Circle’s commitment to developing and delivering best-in-class fixed income products to the full spectrum of investors and their advisors," said Driscoll. "Greg brings an exceptional depth of mortgage-backed and asset-backed investment experience to Logan Circle and he enhances our existing securitized capabilities. I am confident that his transition to Logan Circle will help us achieve our objective of delivering leading fixed income solutions to a growing base of global investors."

Mr. Finck has over 18 years of experience within the mortgage and asset-backed markets. He served most recently as a portfolio manager with responsibility for RMBS and ABS investments within the Fortress Credit funds, under Peter Briger, Principal and Co-Chairman of Fortress. Prior to joining Fortress, Mr. Finck spent 16 years trading mortgages for Goldman, Sachs & Co where he was most recently a managing director responsible for mortgage securitization and secondary trading of RMBS.

About Fortress

Fortress is a leading global investment manager with approximately $44.0 billion in assets under management as of September 30, 2010. Fortress offers alternative and traditional investment products and 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.

About Logan Circle Partners

Logan Circle Partners, L.P. is a leading fixed income investment manager with approximately $12.0 billion in assets under management as of September 30, 2010. Logan Circle offers traditional and alternative fixed income investment products and was purchased by Fortress in April 2010. For more information regarding Logan Circle Partners please visit www.lcpim.com.

Source: Fortress Investment Group LLC

Contact:

Fortress Investment Group LLC
Gordon E. Runté, +1 212-798-6082