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- 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

  Disclosure announcement transmitted by euro adhoc.
  The issuer is responsible for the content of this announcement.
18.11.2005
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:
                   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
Expected
Completion         done       Jan.07    March 07        June 07
Financing          Completed  Fully     Fully           Being financed
                              financed  financed
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
Quotes
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.
end of announcement                               euro adhoc 18.11.2005 07:17:41

Further inquiry note:

Fortune Management Inc.
Christian Hillermann
Investor Relations Manager

Tel.: +49 40 / 23608-897
Fax: +49 40 / 23608-500
Email: ir@fortune-management.com

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
standard

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