Share Buyback Programme: Transactions in week ending 4 October 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 4 October 2019

Guernsey, 7 October 2019 - Eurocastle Investment Limited ("Eurocastle" or the "Company") today announces that between 30 September 2019 and 4 October 2019, under its fifth non-discretionary share buyback programme with Liberum Capital Limited (acting as the Company's broker) announced on 9 August 2019 and commenced on 16 September 2019 (the "Fifth Buyback Programme"), it bought back 14,647 of its ordinary shares at an average price of €7.37 per ordinary share. 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	Platform code	Volume	Volume Weighted	Gross Value (€)
recent announcement			Average Price
30/09/2019	BATE	300	7.44	2,232
	XLON	2,502	7.43	18,587
	CHIX	113	7.44	841
	TRQX	118	7.44	878

	Total	3,033	7.43	22,538
01/10/2019	BATE	304	7.42	2,256
	XLON	2,543	7.42	18,867
	CHIX	108	7.42	801
	TRQX	114	7.42	846

	Total	3,069	7.42	22,770
02/10/2019	BATE	339	7.34	2,488
	XLON	2,804	7.38	20,682
	CHIX	0	-	-
	TRQX	115	7.34	844

	Total	3,258	7.37	24,014
03/10/2019	BATE	344	7.31	2,513
	XLON	2,077	7.32	15,203
	CHIX	145	7.34	1,064
	TRQX	92	7.34	675

	Total	2,658	7.32	19,456
04/10/2019	BATE	350	7.30	2,555
	XLON	2,042	7.28	14,863
	CHIX	147	7.30	1,073
	TRQX	90	7.30	657
	Total	2,629	7.28	19,148

Following the above transactions:

• The total number of ordinary shares of the Company in issue is 55,379,438
• The total number of ordinary shares held by Eurocastle in treasury is 18,900,700 (equal to 34.1% of the Company's share capital)
• The total number of voting rights exercisable by holders of ordinary shares of the Company is 36,478,738 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 visit www.eurocastleinv.com.

Set out below are all trades completed between 30 September 2019 and 4 October 2019:

	Platform code	Volume	Price	Gross Value (€)
30/09/2019	XLON	7	7.42	51.94
	XLON	20	7.42	148.40
	CHIX	113	7.44	840.72
	TRQX	118	7.44	877.92
	BATE	300	7.44	2,232.00
	XLON	1,102	7.44	8,198.88
	XLON	167	7.42	1,239.14
	XLON	1,206	7.42	8,948.52
		3,033	7.43	22,537.52
01/10/2019	BATE	304	7.42	2,255.68
	CHIX	108	7.42	801.36
	TRQX	114	7.42	845.88
	XLON	408	7.42	3,027.36
	XLON	266	7.42	1,973.72
	XLON	325	7.42	2,411.50
	XLON	247	7.42	1,832.74
	XLON	1,043	7.42	7,739.06
	XLON	100	7.40	740.00
	XLON	154	7.42	1,142.68
		3,069	7.42	22,769.98
02/10/2019	BATE	232	7.34	1,702.88
	BATE	107	7.34	785.38
	TRQX	115	7.34	844.10
	XLON	388	7.38	2,863.44
	XLON	547	7.38	4,036.86
	XLON	388	7.38	2,863.44
	XLON	4	7.38	29.52
	XLON	131	7.38	966.78
	XLON	86	7.38	634.68
	XLON	100	7.38	738.00
	XLON	89	7.38	656.82
	XLON	111	7.38	819.18
	XLON	298	7.38	2,199.24
	XLON	25	7.34	183.50

	XLON	100	7.34	734.00
	XLON	100	7.34	734.00
	XLON	75	7.34	550.50
	XLON	100	7.38	738.00
	XLON	100	7.38	738.00
	XLON	100	7.38	738.00
	XLON	62	7.38	457.56
		3,258	7.37	24,013.88
03/10/2019	BATE	192	7.28	1,397.76
	BATE	152	7.34	1,115.68
	CHIX	145	7.34	1,064.30
	TRQX	92	7.34	675.28
	XLON	280	7.28	2,038.40
	XLON	76	7.28	553.28
	XLON	142	7.28	1,033.76
	XLON	41	7.28	298.48
	XLON	33	7.30	240.90
	XLON	31	7.30	226.30
	XLON	69	7.30	503.70
	XLON	19	7.30	138.70
	XLON	49	7.30	357.70
	XLON	1,300	7.34	9,542.00
	XLON	37	7.30	270.10
		2,658	7.32	19,456.34
04/10/2019	XLON	611	7.30	4,460.30
	XLON	427	7.26	3,100.02
	XLON	397	7.26	2,882.22
	BATE	350	7.30	2,555.00
	XLON	250	7.30	1,825.00
	XLON	222	7.26	1,611.72
	XLON	100	7.30	730.00
	CHIX	98	7.30	715.40
	TRQX	90	7.30	657.00
	CHIX	49	7.30	357.70
	XLON	30	7.26	217.80
	XLON	5	7.26	36.30
		2,629	7.28	19,148.46