Client Company News
SOURCE: FORTUNECITY.COM, INC.

DH CAPITAL CLIENT FORTUNECITY.COM INC. ANNOUNCED TODAY THE SALE OF ITS WEB HOSTING CUSTOMER BASE AND NEW MARKETING AGREEMENT FOR WEB HOSTING SERVICES

February 1, 2006 - FortuneCity.com Inc. announced today that it has sold its paid web hosting and domain name customer base for a total consideration of approximately $1.1 million which will be paid out in installments over the next 18 months. Additionally, the Company entered into an agreement with the Purchaser to market paid web hosting services leveraging the FortuneCity.com web site in return for a 57% share of the customer's revenue during the first year of service. FortuneCity estimates that the total value of the two agreements to the Company will be in excess of $1.5 million over the next two years.

The Company will continue to operate its advertising supported 'free' homepage product. Peter Macnee, President and CEO commented, "After reviewing our web hosting business strategy, we decided that it made more sense to sell our paying customer base and concentrate on growing the original free hosting service and the new online photo sharing business, rather than continuing to compete against much larger players in the fiercely competitive small business hosting segment. The sale will also allow management to focus on other opportunities."

DH Capital LLC, a New York based investment banking firm focused on the media and communications industries, served as exclusive financial advisor to FortuneCity.com Inc.

Contact: Contact: Peter Macnee President & CEO investor-relations@corp.fortunecity.com +1-212-981-8624