Fortress Energy Inc.
TSX : FEI

Fortress Energy Inc.

July 31, 2008 09:07 ET

Brent D. Defosse and Joel Dryer Appointed to the Board of Fortress Energy Inc.

CALGARY, ALBERTA--(Marketwire - July 31, 2008) - Fortress Energy Inc. ("Fortress" or the "Company") (TSX:FEI) is pleased to announce that Brent D. Defosse and Joel Dryer have been appointed to the Board of Directors.

Mr. Defosse comes to Fortress Energy as a Professional Engineer with over 28 years experience in the oil and gas industry. Currently, he is President & CEO of Brennex Resources Limited, a private oil and gas engineering consulting company. Mr. Defosse is a former Chief Operating Officer of an oil and gas energy trust company and has also directed and managed all operational aspects of an organization which grew from 5,000 boe/d to 42,000 boe/d within a three year period. Prior thereto, Mr. Defosse held a variety of domestic and foreign engineering and leadership assignments with a major international oil and gas company.

Mr. Defosse graduated from the University of Manitoba with a BSc in Civil Engineering in 1980.

Mr. J. Cameron Bailey President and Chief Executive Officer said " ... we are very pleased to have Mr. Brent Defosse on the board of directors. He adds significant operational expertise to the Company in its winter access area and in pursing its Acquire and Exploit Strategy for diversification into other areas in the Western Canadian Sedimentary Basin."

Fortress Energy is also pleased to announce the appointment of Mr. Joel Dryer to the Board of Directors. Mr. Dryer brings to Fortress over 30 years experience in the finance, technology, and manufacturing industries. Most recently he has focused on microcap equity financing. Through his accomplished career, Mr. Dryer has been successful in forming relationships with Fortune 100 companies and successfully built M-Wave, Inc into one of the world's largest manufacturers of high frequency circuit boards. He was named KPMG Illinois High Tech Entrepreneur of the Year in 1992 and had a company go public on the NASDAQ in 1992, which company was named in Business Week "25 best stocks" of 1993.

Mr. Dryer graduated from The University of Illinois with a BSBA in 1977, followed by an MBA from the University of Massachusetts in 1978.

Mr. Joel Dryer joined the board of directors following the completion of the equity financing, which financing provides the Company with a much stronger balance sheet to enable it to more aggressively pursue its Acquire and Exploit Strategy. Mr. J. Cameron Bailey President and Chief Executive officer said " ...we look forward to Mr Dryer being able to assist us with broadening the shareholder base into the United States and assisting the Company with its strategic focus."

Former directors, Mr. John Clarkson and Mr. Will Franklin, both of Limerock Partners did not stand for re-election at the last annual meeting of shareholders in order that they could pursue other business interests. Limerock Partners had been actively involved with the Maurader Resources West Cost Ltd. which the Company acquired in November 2006. Fortress would like to extend its sincere thanks to both Mr. John Clarkson and Mr. Will Franklin for their contributions since joining the board in 2006.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities have not been registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States absent registration or an exemption from the registration requirements of the U.S. Securities Act of 1933.

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