Share Buyback Programme: Transactions in week ending 21 December 2018

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 21 December 2018

Guernsey, 24 December 2018 - Following the successful settlement of the €15 million share tender on 20 December 2018, Eurocastle Investment Limited ("Eurocastle" or the "Company") commenced its previously announced second buyback programme with Liberum Capital Limited (acting as the Company's broker). Accordingly, the Company today announces that between 20 December 2018 and 21 December 2018, it bought back 1,993 of its ordinary shares at an average price of €6.01 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:

Total

Following the above transactions:

Total

Volume	Volume Weighted	Gross Value (€)
Average Price
0	-	-
0	-	-
0	-	-
0	-	-
0	-	-
BATE	5	5.96	30
XLON	1,801	6.01	10,828
CHIX	128	5.96	762
TRQX	59	5.96	352
1,993	6.01	11,972

Accumulated, most	Platform code
recent announcement
20/12/2018	BATE
XLON
CHIX
TRQX

21/12/2018

•  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 18,651,014 (equal to 29.2% of the Company's share capital)

•  The total number of voting rights exercisable by holders of ordinary shares of the Company is 45,162,348, 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 islisted 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 20 December 2018 and 21 December 2018:

Platform code

21/12/2018

Total

Volume	Price	Gross Value (€)
XLON	183	6.04	1,105.32
XLON	175	6.02	1,053.50
XLON	33	6.02	198.66
XLON	275	6.02	1,655.50
XLON	92	6.02	553.84
XLON	288	6.02	1,733.76
XLON	239	6.00	1,434.00
XLON	460	6.00	2,760.00
BATE	5	5.96	29.80
TRQX	59	5.96	351.64
CHIX	104	5.96	619.84
XLON	56	5.96	333.76
CHIX	24	5.94	142.56
1,993	6.01	11,972.18