Ad hoc-Mitteilungen

DGAP-Ad hoc: FortuneCity.com Inc.

Ad hoc announcement §15 WpHG 
 
Disposal/Legal Matter 
 
FortuneCity.com Inc.: Announces Asset Sale and Company Name Change 
 
Ad hoc announcement transmitted by DGAP - a company of EquityStory AG. 
The issuer is solely responsible for the content of this announcement.
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FortuneCity.com Inc. Announces Asset Sale and Company Name Change New York, NY June 12, 2008: FortuneCity.com Inc. announced today that it has sold the FortuneCity.com personal homepage service and has changed its name to MyPhotoAlbum Inc. At a Special Meeting of Stockholders today in New York, FortuneCity.com Inc. approved the sale of the FortuneCity.com personal homepage service website to a US based web hosting company. The Board of Directors decided to sell the fortunecity.com website to enable the Company to concentrate its managerial and financial assets on its online photo service, the fastest growing area of our business. Proceeds from the asset sale will allow the Company to accelerate the growth of the myphotoalbum.com website, which experienced revenue growth of 179% in 2006 and 92% in 2007, and currently generates approximately 40% of the Company’s revenues. The FortuneCity.com Inc. stockholders also approved changing the company name to MyPhotoAlbum Inc. The Board of Directors recommended the change so that corporate name identifies the Company with its primary business, the MyPhotoAlbum.com photo service website. 'Peter Macnee, President and CEO stated, 'This is an exciting stage in the redevelopment of our business. The MyPhotoAlbum growth rates to date have been realized without the benefit of consumer advertising and promotion. The capital realized from this asset sale will allow to actively market MyPhotoAlbum’s service offering, speeding the user base and revenue growth.' The Company will continue to trade on the German Stock Exchange’s Regulated Market under the symbol 'FCT'. About MyPhotoAlbum MyPhotoAlbum, Inc. is a photo sharing service offering the most extensive features for creating highly-unique, personalized online photo albums and photo keepsakes. By taking the online photo experience beyond ordinary uploading and printing, MyPhotoAlbum makes it easy and fun for everyone to share and store photos within their own distinctive style and personality. MyPhotoAlbum was founded in 2004 and is operated by a creative team passionate about helping people get the most out of their digital photo and video memories. CONTACT: Peter Macnee 212-981-8624 investor_relations@corp.fortunecity.com Contact: Contact: Peter Macnee President & CEO investor-relations@corp.fortunecity.com +1-212-981-8624 (c)DGAP 13.06.2008
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Language: English Issuer: FortuneCity.com Inc. 322 8th Avenue, Suite 701 New York, NY 10001 Vereinigte Staaten von Amerika Phone: +1 212 981-8600 Fax: +1 212 981-8125 E-mail: investor-relations@corp.fortunecity.com Internet: www.fortunecity.com ISIN: US34969P1021 WKN: 919383 Listed: Regulierter Markt in Frankfurt (General Standard); Freiverkehr in Hannover, Düsseldorf, Stuttgart End of News DGAP News-Service
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