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Fortuna Gaming to De-list Stock

LONDON – (PRESS RELEASE) -- Fortuna Gaming Corp. (OTC Bulletin Board: FGAM.OB) (the "Company") announced today that it is taking immediate steps, including legal action if necessary, to de-list its common stock from trading on the Berlin-Bremen Stock Exchange ("BBSE"), having learned that it is one of numerous U.S. based publicly traded companies whose stock has been listed on the BBSE without its prior knowledge, consent or authorization.

Due to the timing of the unauthorized listing of Company's common shares on the BBSE, the Company became suspicious that "naked short selling" may be taking place in its stock as evidenced in a drop in share price over the recent months.

On Oct 29, 2003, the SEC implemented a rule to ban "naked shorting" in order to protect thinly traded stocks that are vulnerable to aggressive short- selling which would cause the stock price to fall. Short selling is a trading practice whereby investors borrow stock from a broker to sell with the hope that the stock price will decline before they have to return the shares back to cover their position. However, naked shorting involves groups of people working together to manipulate the market by selling fictitious shares of stock in an effort to force a company's share price to go down.

By listing a company's common stock on the BBSE without the consent of the company, market manipulators seek to benefit from an "arbitrage" loophole. In what is believed to be the unregulated nature of the BBSE, none of the present regulations are designed to close this loophole.

"Fortuna Gaming Corp. takes very seriously its fiduciary responsibility to protect shareholder value. In this regard, we will fight this unauthorized listing on the BBSE vigorously and are immediately taking the steps necessary to ensure that the Company's equity is traded only where necessary regulatory protections and assurances are in place" says Doug Waugh, President of Fortuna Gaming Corp. "This is an issue we intend to pursue until it is resolved to our satisfaction and in the best interests of our shareholders".

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