Press Release

Fortress Investment Group Named Institutional Investor’s Credit-Focused Hedge Fund Firm of the Year

Company Release - 6/22/2011 9:27 AM ET

NEW YORK--(BUSINESS WIRE)-- Fortress Investment Group LLC (NYSE: FIG) was named the Credit-Focused Hedge Fund Firm of the Year by Institutional Investor at the magazine’s 9th Annual Hedge Fund Industry Awards. The awards recognize firms across the hedge fund sector distinguished by their exceptional innovation, achievements and contributions in 2010.

Fortress’s Credit team of over 300 investment professionals manages over $13 billion on behalf of institutional investors and private clients worldwide.

Fortress managing director Gareth Henry was also recognized during Monday’s event as an Institutional Investor “Rising Star.” Mr. Henry, who joined Fortress in 2007, is responsible for raising capital and building client relationships in the European, Middle Eastern and African markets. Institutional Investor Rising Stars are professionals whose accomplishments in, and contributions to, the industry make them standout among their peers and position them as future industry leaders.

About Fortress

Fortress is a leading global investment manager with approximately $43.1 billion in assets under management as of March 31, 2011. 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.

Source: Fortress Investment Group LLC

Contact:

Fortress Investment Group LLC

Gordon E. Runté, 212-798-6082