Share Buyback Programme: Transactions in Week Eight

EUROCASTLE INVESTMENT LIMITED

FOR IMMEDIATE RELEASE

Contact:

International Administration Group (Guernsey) Limited Company Administrator

Attn: Mark Woodall Tel: [phone]

Share Buyback Programme: Transactions in Week Eight

Guernsey, 1 October 2018 - Eurocastle Investment Limited ("Eurocastle" or the "Company") today announces that between 24 September 2018 and 28 September 2018, as part of the previously announced buyback programme entered into with Liberum Capital Limited (acting as the Company's broker), it bought back 19,369 of its ordinary shares at an average price of €6.78 per ordinary share. These purchases were made pursuant to the authority granted at its Annual General Meeting on 20 June 2018. The purchased shares will all be held as treasury shares.

The purpose of the share buyback programme is to reduce the share capital of the Company and the programme is executed in compliance with the provisions of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 and the Commission Delegated Regulation (EU) 2016/1052 of 8 March 2016, collectively referred to as the Safe Harbour rules.

The following transactions have been made under the buyback programme:

Accumulated, most recent announcement 24/09/2018

Total

25/09/2018

Total

26/09/2018

Total

27/09/2018

Total

28/09/2018

BATE

XLON

CHIX

TRQX

BATE

XLON

CHIX

TRQX

Volume	Volume Weighted	Gross Value (€)
Average Price
62	6.82	423
1,373	6.87	9,428
233	6.85	1,596
496	6.86	3,403
2,164	6.86	14,850
128	6.80	870
2,586	6.80	17,597
278	6.80	1,890
1,227	6.80	8,339
4,219	6.80	28,697
128	6.80	870
3,024	6.80	20,554
302	6.80	2,054
622	6.80	4,227
4,076	6.80	27,705
BATE	128	6.76	865
XLON	3100	6.80	21,065
CHIX	388	6.76	2,623
TRQX	398	6.79	2,704
4,014	6.79	27,257
127	6.80	864

Platform code

BATE XLON CHIX TRQX

BATE

XLON	4,397	6.69	29,424
CHIX	372	6.80	2,530
TRQX
Total	4,896	6.70	32,817

Following the above transactions:

•  The total number of ordinary shares of the Company in issue is 66,121,054

•  The total number of ordinary shares held by Eurocastle in treasury is 18,521,405 (equal to 28.0% of the Company's share capital)

•  The total number of voting rights exercisable by holders of ordinary shares of the Company is 47,599,649, as voting rights of shares held in treasury are suspended.

ABOUT EUROCASTLE

Eurocastle Investment Limited is a publicly traded closed-ended investment company that focuses on investing in performing and non-performing loans and other real estate related assets primarily in Italy. The Company is Euro denominated and is listed on Euronext Amsterdam under the symbol "ECT". Eurocastle is managed by an affiliate of Fortress Investment Group LLC, a leading global investment manager. For more information regarding Eurocastle Investment Limited and to be added to our email distribution list, please visitwww.eurocastleinv.com.

Set out below are all trades completed between 24 September 2018 and 28 September 2018:

Platform code	Volume	Price	Gross Value (€)
24/09/2018	XLON	485	6.88	3,336.80
BATE	62	6.82	422.84
CHIX	58	6.82	395.56
XLON	66	6.86	452.76
XLON	73	6.86	500.78
XLON	602	6.86	4,129.72
TRQX	432	6.86	2,963.52
CHIX	106	6.86	727.16
CHIX	69	6.86	473.34
XLON	147	6.86	1,008.42
TRQX	64	6.86	439.04
Total	2,164	6.86	14,849.94
25/09/2018	XLON	471	6.82	3,212.22
XLON	443	6.82	3,021.26
XLON	405	6.82	2,762.10
XLON	152	6.82	1,036.64
TRQX	500	6.82	3,410.00
XLON	413	6.82	2,816.66
CHIX	278	6.80	1,890.40
BATE	128	6.80	870.40
XLON	151	6.80	1,026.80
XLON	127	6.80	863.60
TRQX	657	6.78	4,454.46
TRQX	70	6.78	474.60
XLON	407	6.74	2,743.18
XLON	17	6.74	114.58
Total	4,219	6.80	28,696.90
26/09/2018	TRQX	147	6.84	1,005.48
XLON	482	6.80	3,277.60
CHIX	100	6.80	680.00
CHIX	128	6.80	870.40
CHIX	74	6.80	503.20
BATE	128	6.80	870.40
XLON	443	6.80	3,012.40
XLON	224	6.80	1,523.20
XLON	870	6.80	5,916.00
XLON	250	6.80	1,700.00
XLON	291	6.80	1,978.80
TRQX	81	6.80	550.80
TRQX	191	6.80	1,298.80
XLON	216	6.78	1,464.48
XLON	248	6.78	1,681.44
TRQX	203	6.76	1,372.28
Total	4,076	6.80	27,705.28
27/09/2018	XLON	353	6.80	2400.40
XLON	1931	6.80	13130.80
XLON	381	6.80	2590.80
TRQX	207	6.80	1407.60
TRQX	125	6.80	850.00
XLON	116	6.78	786.48
XLON	319	6.76	2156.44
CHIX	243	6.76	1642.68
CHIX	145	6.76	980.20
BATE	128	6.76	865.28
TRQX	66	6.76	446.16
Total	4,014	6.79	27,256.84
28/09/2018	XLON	483	6.80	3,284.40
CHIX	372	6.80	2,529.60
BATE	127	6.80	863.60
XLON	395	6.76	2,670.20
XLON	402	6.70	2,693.40
XLON	586	6.70	3,926.20
XLON	478	6.68	3,193.04
XLON	542	6.66	3,609.72
XLON	708	6.66	4,715.28
XLON	65	6.64	431.60
XLON	738	6.64	4,900.32
Total	4,896	6.70	32,817.36