EJF Investments : Sale of Two Investments

FOR IMMEDIATE RELEASE

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES, ANY MEMBER STATE OF THE EUROPEAN ECONOMIC AREA (OTHER THAN THE UNITED KINGDOM), AUSTRALIA, CANADA, SOUTH AFRICA, JAPAN OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DO SO.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.

19 January 2018

EJF Investments Ltd (the "Company")

Sale of Two Investments

The Company is pleased to announce it has sold two REIT TruPS CDO securities on 18 January 2018 for a gain of approximately £7.3 million which generated total sale proceeds of approximately £15.8 million, subject to settlement, which is expected to take place on 23 January 2018. The Company estimates the positive impact on December 2017's NAV purely attributable to this gain to be approximately 12 pence per share.

The Company has a developed investment pipeline and anticipates that the sale proceeds will be deployed in line with its stated investment policies and objectives.

ENQUIRIES

For the Investment Manager EJF Investments Manager LLC Peter Stage / Hammad [e-mail] /[e-mail] [phone] / [phone]

For the Company Secretary and Administrator Crestbridge Fund Administrators [e-mail] [phone]

For the Broker Liberum Capital Limited

Henry Freeman / Gillian Martin [phone]

About EJF Investments Limited

EJFI is a registered closed-ended limited liability company incorporated in Jersey under the Companies (Jersey) Law 1991, as amended, on 20 October 2016 with registered number 122353. The Company is regulated by the Jersey Financial Services Commission (the "JFSC"). The JFSC is protected by both the Collective Investment Funds (Jersey) Law 1988 and the Financial Services (Jersey) Law 1998, as amended, against liability arising from the discharge of its functions under such laws.

LEI: 549300XZYEQCLA1ZAT25

Investor information & warnings

The latest available information on the Company can be accessed via its website atwww.ejfi.com

This communication has been issued by, and is the sole responsibility of, the Company and is for information purposes only. It is not, and is not intended to be an invitation, inducement, offer or solicitation to deal in the shares of the Company. The price and value of shares in the Company and the income from them may go down as well as up and investors may not get back the full amount invested on disposal of shares in the Company. An investment in the Company should be considered only as part of a balanced portfolio of which it should not form a disproportionate part. Prospective investors are advised to seek expert legal, financial, tax and other professional advice before making any investment decision.

Shares of EJF Investments Ltd are not available in United States, Australia, Canada, Japan, South Africa, the European Economic Area (with the exception of the United Kingdom) or in any jurisdiction in which such offers or sales are unlawful. Accordingly, unless an exemption under relevant securities laws is applicable, any such securities may not be offered, sold, resold, taken up, exercised, renounced, transferred, delivered or distributed, directly or indirectly, in or into the United States, Australia, Canada, Japan, South Africa, the European Economic Area (with the exception of the United Kingdom) or any other jurisdiction if to do so would constitute a violation of the relevant laws of, or require registration of such securities in, the relevant jurisdiction. There will be no public offering of EJF Investments Ltd in the United States. You are encouraged to consult your own investment counsel and review all offering materials of EJF Investments Ltd prior to making any investment in EJF Investments Ltd.

EJF Capital Limited, a company incorporated in England and Wales, is a wholly-owned subsidiary of EJF Capital LLC. EJF Capital LLC, a limited liability company formed under the laws of the State of Delaware in the United States of America, is registered with the U.S. Securities and Exchange Commission as an investment adviser. EJF Capital Limited is not authorized or regulated by the Financial Conduct Authority.