Fortune Oil Appoints New Executive Directors

Fortune Oil PLC announced the appointment of two Executive Directors, with immediate effect, following the Board meeting on June 25, 2008.

Tian Jun has been with the Fortune Oil Group since April 1999 and is based in Beijing. He acted as General Manager of Maoming King Ming Petroleum Company, Deputy General Manager of South China Aviation Oil Company and became Chief Operating Officer in February 2006. He is also now the President of Fortune Gas distribution. He received a degree from Peking University and a PhD from the University of London. Prior to joining Fortune Oil, Dr. Tian worked in the City of London and he also worked in the China's State Price Bureau and State Planning Commission for six years.

Ye Qing has been with the Company since 2000 as General Manager of the trading department and is responsible for all trading activities including the oil and petrochemical product. His work further develops Fortune's business relationships with Sinopec, CNPC/PetroChina and other oil companies. He graduated from the University of International Business and Economics in Beijing and worked in Sinochem in Beijing for a few years prior joining Fortune Oil.

Qian Benyuan, Chairman of Fortune Oil, said, "We are delighted to welcome Tian Jun and Ye Qing to the Board. They have a deep understanding of Fortune Oil's operations having managed key areas of the Company and they will bring to the Board considerable knowledge and experience. Fortune Oil is even better placed to make further inroads into China's energy sector."


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