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Financially Distressed Companies / GATE-Participation Biodiesel Enns GmbH & Co. KG will file for insolvency/Other GATE-Companies are not affected

  Disclosure announcement transmitted by euro adhoc. The issuer is responsible
  for the content of this announcement.
Company Information
14.04.2008
Zug/Switzerland, April 14 2008 - FORTUNE Management Inc. (General 
Standard, ISIN USU026281027; SIN: A0BLYY) informs, that Biodiesel 
Enns GmbH & Co. KG, Enns, Austria ("Biodiesel Enns") will file for 
insolvency tomorrow April 15th.
Biodiesel Enns is by 51 percent owned by Neckermann Renewables GmbH, 
a 100percent subsidiary of the GATE Group. Hereof Fortune Management 
Inc. holds a participation of 65 percent. The remaining 49 percent of
Biodiesel Enns are owned by Invest Unternehmensbeteiligungs 
Aktiengesellschaft ("Invest AG"), a subsidiary of  
Raiffeisenlandesbank Oberösterreich Aktiengesellschaft, Linz, 
Austria. Biodiesel Enns represents a refinery with an annual 
production capacity of about 100.000 tons of Biodiesel.
The reason for the insolvency is the decision of the lending bank and
the parent company of Invest AG, the Raiffeisenlandesbank 
Oberösterreich Aktiengesellschaft, to deny Biodiesel Enns the use of 
an already established credit line. Therefore the current 
negotiations for the raw material supply, which would have secured 
the survival of Enns, failed. About 30 employees are concerned. Gate 
invested more than EURO 13 Million in Biodiesel Enns.
Other GATE-companies outside of Austria are not affected by the 
insolvency.
Profile of FORTUNE Management Inc.: FORTUNE Management Inc., 
Zug/Switzerland, is a publicly listed private equity firm. Its two 
business divisions are Private Equity Management and Principal 
Investments. Private Equity Management achieves consistent revenues 
from the management of specialized funds, whereas Principal 
Investments comprises direct investments (e.g. in bio-diesel 
manufacturer GATE or in the Swiss asset managers FORTUNE Wealth 
Management Group AG) with a view to capital gains. FORTUNE Management
Inc. has subsidiaries in Zug, Zurich, Geneva, Luxemburg, Würzburg, 
Vienna and the Bahamas as well as a branch in Dubai. The company´s 
shares (ISIN: USU 026281027) are listed in the General Standard 
segment of Frankfurt Stock Exchange (symbol: FMI1) and on the DIFX in
Dubai.
end of announcement                               euro adhoc

Further inquiry note:

FORTUNE Management Inc.
Thomas Luber
Phone +49 69 9441 8069
IR@fortune-management.com
Bahnhofstrasse 10
P.O. Box 324
CH-6301 Zug

Branche: Financial & Business Services
ISIN: USU026281027
WKN: A0BLYY
Börsen: Börse Berlin / free trade
Börse Stuttgart / free trade
Börse Düsseldorf / free trade
Börse Frankfurt / regulated dealing/general standard

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