Share Buyback Programme: Transactions in Week Thirteen

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 Thirteen

Guernsey, 5 November 2018 - Eurocastle Investment Limited ("Eurocastle" or the "Company") today announces that between 29 October 2018 and 2 November 2018, as part of the previously announced buyback programme entered into with Liberum Capital Limited (acting as the Company's broker), it bought back 16,348 of its ordinary shares at an average price of €6.19 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 29/10/2018

Total

30/10/2018

Total

31/10/2018

Total

01/11/2018

Total

02/11/2018

Total

BATE

XLON

CHIX

TRQX

BATE

XLON

CHIX

TRQX

BATE

XLON

CHIX

TRQX

Volume	Volume Weighted	Gross Value (€)
Average Price
0	-	-
2,663	6.42	17,084
480	6.47	3,108
275	6.51	1,791
3,418	6.43	21,982
95	6.10	580
2,885	6.06	17,469
499	6.11	3,049
277	6.11	1,693
3,756	6.07	22,791
94	6.20	583
1,786	6.24	11,149
539	6.12	3,299
106	6.31	669
2,525	6.22	15,699
94	6.12	575
3,421	6.17	21,096
562	6.13	3,445
282	6.13	1,728
4,359	6.16	26,845
BATE	95	6.02	572
XLON	916	6.07	5,557
CHIX	997	6.08	6,065
TRQX	282	6.04	1,073
2,290	6.07	13,896

Platform code

BATE XLON CHIX TRQXFollowing 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 18,601,359 (equal to 28.1% of the Company's share capital)

•  The total number of voting rights exercisable by holders of ordinary shares of the Company is 47,519,695, 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 29 October 2018 and 2 November 2018:

Platform code

Volume	Price	Gross Value (€)
CHIX	123	6.64	816.72
XLON	53	6.60	349.80
XLON	432	6.60	2,851.20
TRQX	22	6.58	144.76
CHIX	21	6.58	138.18
TRQX	29	6.54	189.66
TRQX	59	6.54	385.86
TRQX	92	6.52	599.84
TRQX	23	6.50	149.50
CHIX	21	6.48	136.08
XLON	282	6.46	1,821.72
CHIX	24	6.44	154.56
XLON	274	6.44	1,764.56
XLON	92	6.44	592.48
CHIX	20	6.44	128.80
XLON	66	6.44	425.04
XLON	190	6.44	1,223.60
CHIX	24	6.44	154.56
CHIX	22	6.44	141.68
CHIX	21	6.44	135.24
CHIX	20	6.44	128.80
CHIX	23	6.44	148.12
TRQX	20	6.42	128.40
TRQX	21	6.42	134.82
TRQX	9	6.42	57.78
CHIX	22	6.40	140.80
XLON	158	6.40	1,011.20
XLON	143	6.40	915.20
CHIX	23	6.36	146.28
CHIX	22	6.36	139.92
CHIX	5	6.36	31.80

29/10/2018

CHIX	73	6.36	464.28
CHIX	16	6.36	101.76
XLON	434	6.36	2,760.24
XLON	249	6.34	1,578.66
XLON	117	6.34	741.78
XLON	173	6.06	1,048.38
Total	3,418	6.43	21,982.06
30/10/2018	TRQX	23	6.22	143.06
CHIX	23	6.18	142.14
CHIX	41	6.18	253.38
TRQX	24	6.14	147.36
XLON	420	6.14	2,578.80
XLON	408	6.10	2,488.80
BATE	95	6.10	579.50
CHIX	435	6.10	2,653.50
TRQX	230	6.10	1,403.00
XLON	60	6.10	366.00
XLON	200	6.10	1,220.00
XLON	245	6.10	1,494.50
XLON	455	6.02	2,739.10
XLON	419	6.00	2,514.00
XLON	303	6.00	1,818.00
XLON	375	6.00	2,250.00
Total	3,756	6.07	22,791.14
31/10/2018	XLON	269	6.40	1,721.60
XLON	361	6.36	2,295.96
TRQX	82	6.36	521.52
XLON	102	6.28	640.56
XLON	250	6.28	1,570.00
BATE	94	6.20	582.80
TRQX	18	6.14	110.52
CHIX	351	6.14	2,155.14
CHIX	111	6.14	681.54
TRQX	6	6.14	36.84
XLON	245	6.12	1,499.40
XLON	111	6.12	679.32
XLON	37	6.12	226.44
XLON	70	6.12	428.40
XLON	158	6.12	966.96
XLON	183	6.12	1,119.96
CHIX	14	6.00	84.00
CHIX	10	6.00	60.00
CHIX	21	6.00	126.00
CHIX	23	6.00	138.00
CHIX	9	6.00	54.00
Total	2,525	6.22	15,698.96
01/11/2018	CHIX	20	6.20	124.00
XLON	149	6.18	920.82
XLON	222	6.18	1,371.96
XLON	262	6.18	1,619.16
XLON	74	6.18	457.32
XLON	112	6.18	692.16
XLON	297	6.18	1,835.46
XLON	136	6.18	840.48
XLON	216	6.18	1,334.88
XLON	134	6.18	828.12
XLON	34	6.18	210.12
XLON	62	6.18	383.16
XLON	11	6.18	67.98
XLON	343	6.18	2,119.74
XLON	236	6.18	1,458.48
TRQX	16	6.16	98.56
TRQX	8	6.16	49.28
CHIX	17	6.16	104.72
CHIX	22	6.16	135.52
CHIX	24	6.16	147.84
CHIX	5	6.16	30.80
CHIX	13	6.16	80.08
CHIX	4	6.16	24.64
CHIX	22	6.16	135.52
XLON	92	6.16	566.72
XLON	303	6.14	1,860.42
XLON	76	6.14	466.64
XLON	191	6.14	1,172.74
XLON	200	6.14	1,228.00
TRQX	76	6.14	466.64
XLON	156	6.14	957.84
TRQX	143	6.12	875.16
CHIX	244	6.12	1,493.28
BATE	94	6.12	575.28
CHIX	191	6.12	1,168.92
TRQX	39	6.12	238.68
XLON	115	6.12	703.80
Total	4,359	6.16	26,844.92
02/11/2018	XLON	313	6.20	1,940.60
XLON	27	6.20	167.40
XLON	16	6.20	99.20
CHIX	82	6.18	506.76
CHIX	16	6.18	98.88
CHIX	27	6.18	166.86
CHIX	5	6.18	30.90
CHIX	23	6.18	142.14
TRQX	22	6.14	135.08
TRQX	12	6.14	73.68
TRQX	9	6.14	55.26
TRQX	3	6.14	18.42
TRQX	14	6.14	85.96
TRQX	4	6.14	24.56
TRQX	2	6.14	12.28
CHIX	352	6.12	2,154.24
CHIX	23	6.12	140.76
CHIX	39	6.12	238.68
CHIX	24	6.12	146.88
BATE	16	6.10	97.60
BATE	5	6.10	30.50
CHIX	22	6.06	133.32
CHIX	13	6.04	78.52
CHIX	6	6.04	36.24
CHIX	2	6.04	12.08
TRQX	23	6.02	138.46
TRQX	21	6.02	126.42
TRQX	12	6.02	72.24
TRQX	9	6.02	54.18
TRQX	2	6.02	12.04
TRQX	1	6.02	6.02
CHIX	24	6.02	144.48
CHIX	24	6.00	144.00
CHIX	23	6.00	138.00
CHIX	20	6.00	120.00
CHIX	23	6.00	138.00
CHIX	21	6.00	126.00
CHIX	21	6.00	126.00
CHIX	20	6.00	120.00
CHIX	21	6.00	126.00
CHIX	20	6.00	120.00
TRQX	148	6.00	888.00
CHIX	146	6.00	876.00
BATE	74	6.00	444.00
XLON	297	6.00	1,782.00
XLON	34	5.96	202.64
XLON	229	5.96	1,364.84
Total	2,290	6.07	13,896.12