Fortress Investment Group LLC (NYSE: FIG) was recognized for a second consecutive year as “Credit-Focused Hedge Fund of the Year” at Institutional Investor’s 10th Annual Hedge Fund Industry Awards. The award recognizes 2011 investment performance, risk management, investment discipline and selection, stability of investment team, investor relations and infrastructure. Fortress managing director Drew McKnight, who joined the firm’s Credit team in 2005, was also recognized during this year’s event as an Institutional Investor “Rising Star.” The award recognizes professionals whose accomplishments in, and contributions to, the industry make them standout among their peers and position them as future industry leaders. Fortress’s Credit team of over 350 professionals manages over $12 billion on behalf of institutional investors and private clients worldwide. The firm’s Drawbridge Special Opportunities Funds, launched in 2002, invest globally in diversified portfolios of undervalued and distressed investments. About Fortress Fortress Investment Group LLC (NYSE: FIG) is a leading, highly diversified global investment management firm. Fortress applies its deep experience and specialized expertise across a range of investment strategies - private equity, credit, liquid hedge funds and traditional fixed income - on behalf of over 1,400 institutional clients and private investors worldwide. For more information regarding Fortress Investment Group LLC or to be added to its e-mail distribution list, please visit www.fortress.com.