Share Buyback Programme: Transactions in week ending 15 March 2019

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 ending 15 March 2019

Guernsey, 18 March 2019 - Eurocastle Investment Limited ("Eurocastle" or the "Company") today announces that between 11 March 2019 and 15 March 2019, under its non-discretionary share buyback programme with Liberum Capital Limited (acting as the Company's broker) announced on 7 March 2019 (the "Third Buyback Programme"), it bought back 11,112 of its ordinary shares at an average price of €7.08 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 11/03/2019

Total

12/03/2019

Total

13/03/2019

Total

14/03/2019

Total

15/03/2019

Total

BATE

XLON

CHIX

TRQX

BATE

XLON

CHIX

TRQX

BATE

XLON

CHIX

TRQX

Volume	Volume Weighted	Gross Value (€)
Average Price
158	7.18	1,134
1,555	7.12	11,064
94	7.14	672
124	7.17	889
1,931	7.12	13,758
183	7.10	1,300
1,803	7.08	12,756
103	7.09	730
126	7.10	895
2,215	7.08	15,681
182	7.02	1,277
1,843	7.03	12,959
108	7.02	759
134	7.02	940
2,267	7.03	15,934
62	7.11	441
2,008	7.08	14,217
102	7.08	722
127	7.09	901
2,299	7.08	16,280
BATE	151	7.08	1,070
XLON	2,008	7.11	14,285
CHIX	108	7.11	767
TRQX	133	7.09	943
2,400	7.11	17,065

Platform code

BATE XLON CHIX TRQXFollowing the above transactions:

•  The total number of ordinary shares of the Company in issue is 63,813,362

•  The total number of ordinary shares held by Eurocastle in treasury is 18,736,496 (equal to 29.4% of the Company's share capital)

•  The total number of voting rights exercisable by holders of ordinary shares of the Company is 45,076,866, 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 11 March 2019 and 15 March 2019:

Platform code

11/03/2019

Total

Volume	Price	Gross Value (€)
30	7.24	217.20
20	7.22	144.40
37	7.22	267.14
7	7.20	50.40
8	7.16	57.28
12	7.16	85.92
22	7.16	157.52
18	7.16	128.88
15	7.16	107.40
39	7.16	279.24
52	7.16	372.32
69	7.16	494.04
352	7.14	2,513.28
626	7.14	4,469.64
25	7.10	177.50
117	7.08	828.36
70	7.08	495.60
189	7.08	1,338.12
97	7.06	684.82
104	7.06	734.24
22	7.04	154.88
1,931	7.12	13,758.18
BATE	38	7.20	273.60
TRQX	25	7.18	179.50
CHIX	20	7.14	142.80
XLON	177	7.08	1,253.16
XLON	359	7.08	2,541.72
XLON	105	7.08	743.40
XLON	149	7.08	1,054.92
XLON	15	7.08	106.20

TRQX

CHIX

BATE

BATE

BATE

BATE

BATE

BATE

BATE

BATE

CHIX

TRQX

XLON

XLON

TRQX

XLON

XLON

XLON

XLON

XLON

CHIX

12/03/2019

XLON	135	7.08	955.80
XLON	63	7.08	446.04
XLON	56	7.08	396.48
XLON	117	7.08	828.36
BATE	49	7.08	346.92
BATE	96	7.08	679.68
CHIX	83	7.08	587.64
TRQX	101	7.08	715.08
XLON	178	7.08	1,260.24
XLON	172	7.06	1,214.32
XLON	277	7.06	1,955.62
Total	2,215	7.08	15,681.48
13/03/2019	XLON	218	7.00	1,526.00
XLON	367	7.00	2,569.00
XLON	44	7.00	308.00
XLON	77	7.00	539.00
XLON	174	7.04	1,224.96
XLON	166	7.00	1,162.00
TRQX	26	7.00	182.00
BATE	37	7.00	259.00
CHIX	25	7.04	176.00
TRQX	26	7.02	182.52
CHIX	83	7.02	582.66
BATE	145	7.02	1,017.90
TRQX	82	7.02	575.64
XLON	664	7.06	4,687.84
XLON	129	7.08	913.32
XLON	4	7.10	28.40
Total	2,267	7.03	15,934.24
14/03/2019	CHIX	20	7.06	141.20
TRQX	29	7.10	205.90
BATE	31	7.18	222.58
TRQX	25	7.10	177.50
CHIX	20	7.06	141.20
TRQX	26	7.10	184.60
XLON	918	7.08	6,499.44
XLON	84	7.08	594.72
XLON	969	7.08	6,860.52
BATE	31	7.04	218.24
XLON	31	7.08	219.48
CHIX	40	7.10	284.00
XLON	6	7.08	42.48
CHIX	11	7.06	77.66
CHIX	11	7.06	77.66
TRQX	30	7.02	210.60
TRQX	17	7.20	122.40
Total	2,299	7.08	16,280.18
15/03/2019	XLON	558	7.18	4,006.44
CHIX	23	7.14	164.22
XLON	99	7.06	698.94
XLON	82	7.06	578.92
XLON	190	7.12	1,352.80
XLON	158	7.12	1,124.96
XLON	38	7.12	270.56
BATE	34	7.10	241.40
TRQX	30	7.12	213.60
XLON	214	7.12	1,523.68
CHIX	22	7.14	157.08
CHIX	22	7.08	155.76
XLON	116	7.06	818.96
CHIX	23	7.08	162.84
XLON	5	7.06	35.30
XLON	84	7.06	593.04
XLON	153	7.06	1,080.18
CHIX	18	7.08	127.44
TRQX	103	7.08	729.24
BATE	117	7.08	828.36
XLON	24	7.06	169.44
XLON	287	7.08	2,031.96
Total	2,400	7.11	17,065.12