Fortune Management Inc.

euro adhoc: Fortune Management Inc.
- Fortune Private Equity has entered the bio-diesel industry through the formation of Global Alternative Energy International S.à.r.l. "("GATE") - GATE is a joint-venture company formed in cooperation with t

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Zug/Switzerland, November 18, 2005 - Fortune Management Inc. (General Standard, ISIN USU026281027, SIN: A0BLYY)  through its subsidiary FHLSP Private Equity Group Inc. S.à.r.l. formed and capitalized Global Alternative Energy International S.à.r.l., Luxembourg ("GATE"). GATE was formed in cooperation with the owners of Josef C. Neckermann GmbH & Co KG and Neckermann Renewable GmbH ("Neckermann"), the former being a fuel trading company established in 1895. Since 1996 Neckermann has been developing bio-diesel marketing, production and trading capabilities. GATE together with its subsidiaries will be a fully integrated producer of high grade bio-diesel. This includes long term contracts with rape seed producers in Germany, Hungary and further regions in Eastern Europe. Also included will be seed crushing plants to provide rape seed oil to the GATE facilities.

Fortune owns 65 % of GATE and the balance is held by Marlene Neckermann,  Philipp Neckermann and Dieter Heisig, who will become the CEO of GATE. The latter have contributed their beneficial ownership interests, rights and certain contracts to GATE in return for their 35 % interest.  Neckermann or its principals currently own major or majority interests in four bio-diesel projects with production capacities ranging from 60.000 tonnes per year to 200.000 tonnes per year, with a total scheduled capacity to-date rising to 420.000 tonnes per year by 2007. The existing as well as the plants under construction are being built by Lurgi AG, Frankfurt. The status and capacities of these plants are as follows:

@@start.t2@@                              Halle (D)  Enns (D)  Piesteritz (D)  Ingolstadt (D)
Total Production
tonnes per year      60.000        100.000    200.000              60.000
Status                    In full      Under        Going into         in development
                              production constr.    construction
Completion              done          Jan.07      March 07            June 07
Financing                Completed  Fully        Fully                 Being financed
                                                financed  financed@@end@@

Each of these plants are financed by equity (own and from co-owners), debt and in some cases governmental subsidies.

An additional five plants to be built or acquired by GATE are in various stages of negotiation. GATE intends that its future facilities will be co-located with multinational petroleum companies. The initiative also includes the obtaining of long term rape seed production contracts and the development of captive crushing and storage capabilities.

The same strategy will be utilized in the Americas and Asia, where initial discussions concerning two North American co-location facilities are under way.

The Supervisory Board of GATE will include:

Paul Bagley:                  Chairman
Marlene Neckermann:        Honorary Chairperson
Germain Hagenbach:         Supervisory Board Member
René Müller:                  Supervisory Board Member
Jack Takacs:                  Supervisory Board Member

The Management Team will be run by Dieter Heisig as CEO. Previously, he was the CEO of the Neckermann Group.

End of ad hoc release


Paul Bagley, Chairman of Fortune Management: "Fortune had identified bio-diesel as an area of opportunity because of the substantial gap between current production capacities relative to the known demand of bio-diesel required by EU-regulations. Fortune selected Neckermann because of their extensive trading and development capabilities in the field of bio-diesel. In addition they contribute high-quality partners and an experienced and well respected management team. Dieter Heisig has a comprehensive vision for the development of bio-diesel in Europe and internationally."

Dieter Heisig, CEO of GATE: "We are pleased to accelerate our bio-diesel strategy in cooperation with Fortune since they bring a global perspective to our efforts. Their resources enable us to continue the implementation of our business plan on an international basis."

Profile of the Fortune Management Inc.: FORTUNE Management Inc, Zug/Switzerland, pursues two parallel consolidation strategies: In the Asset Management division the acquisition of independent asset management companies primarily operating in Switzerland, but also internationally, is in the centre of the interest; in the Private Equity segment Fortune focuses on the acquisition or establishment of private equity managers and funds on a global scale. Both operations work from the same platform. FORTUNE has subsidiaries in Zug, Zurich, Geneva, and Dubai. The company targets the acquisition of a majority share in the asset management or private equity companies. With the integration into the group, the acquired companies of both segments are relieved from as much administrative work ("middle office") as possible. They continue to operate in the market under their established trade name. Neither the customer nor the custodian bank relationships of the asset managers are altered.  The realized economies of scale result in improved cost ratios. In the Asset Management division the support in the areas of research as well as portfolio management aims to enhance the risk-adequate return for the asset managers’ clients. In the Private Equity segment the companies achieve an increase in volume and a broadening of their base.

The shares (ISIN: USU 026281027) of the company are listed at the Geregelter Markt [Regulated Market] (General Standard) of the Frankfurt Stock Exchange.

@@start.t3@@end of announcement                                                 euro adhoc 18.11.2005 07:17:41

ots Originaltext: Fortune Management Inc.
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Further inquiry note:
Fortune Management Inc.
Christian Hillermann
Investor Relations Manager

Tel.: +49 40 / 23608-897
Fax: +49 40 / 23608-500

Branche: Financial & Business Services
ISIN:      USU026281027
WKN:        A0BLYY
Index:    Prime All Share, HDAX, CDAX
Börsen:  Berliner Wertpapierbörse / free trade
              Baden-Württembergische Wertpapierbörse / free trade
              Börse Düsseldorf / free trade
              Bremer Wertpapierbörse (BWB) / free trade
              Frankfurter Wertpapierbörse / regulated dealing/general

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