Share Buyback Programme: Transactions in week ending 18 January 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 18 January 2019

Guernsey, 21 January 2019 - Eurocastle Investment Limited ("Eurocastle" or the "Company") today announces that between 14 January 2019 and 18 January 2019, as part of the previously announced second buyback programme with Liberum Capital Limited (acting as the Company's broker), it bought back 6,934 of its ordinary shares at an average price of €6.82 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 14/01/2019

Total

15/01/2019

Total

16/01/2019

Total

17/01/2019

Total

18/01/2019

Total

BATE

XLON

CHIX

TRQX

BATE

XLON

CHIX

TRQX

BATE

XLON

CHIX

TRQX

Volume	Volume Weighted	Gross Value (€)
Average Price
0	-	-
1,276	6.91	8,821
128	6.83	874
200	6.90	1,380
1,604	6.90	11,075
0	-	-
368	6.81	2,507
0	-	-
172	6.79	1,169
540	6.81	3,675
44	6.68	294
1,139	6.89	7,850
124	6.91	857
224	6.90	1,546
1,531	6.89	10,546
0	-	-
1,310	6.78	8,887
130	6.80	884
227	6.75	1,533
1,667	6.78	11,304
BATE	181	6.72	1,216
XLON	896	6.75	6,046
CHIX	148	6.73	995
TRQX	367	6.70	2,460
1,592	6.73	10,718

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 18,677,530 (equal to 29.3% of the Company's share capital)

•  The total number of voting rights exercisable by holders of ordinary shares of the Company is 45,135,832, 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 14 January 2019 and 18 January 2019:

Platform code	Volume	Price	Gross Value (€)
14/01/2019	XLON	473	7.00	3,311.00
XLON	500	7.00	3,500.00
XLON	41	7.00	287.00
TRQX	200	6.90	1,380.00
CHIX	35	6.90	241.50
CHIX	64	6.90	441.60
XLON	4	6.90	27.60
XLON	15	6.78	101.70
CHIX	29	6.58	190.82
XLON	50	6.56	328.00
XLON	193	6.56	1,266.08
Total	1,604	6.90	11,075.30
15/01/2019	XLON	52	6.88	357.76
TRQX	46	6.86	315.56
XLON	316	6.80	2,148.80
TRQX	65	6.80	442.00
TRQX	52	6.74	350.48
TRQX	9	6.72	60.48
Total	540	6.81	3,675.08
16/01/2019	CHIX	99	6.96	689.04
XLON	205	6.92	1,418.60
XLON	458	6.92	3,169.36
XLON	197	6.90	1,359.30
XLON	53	6.90	365.70
TRQX	101	6.90	696.90
TRQX	97	6.90	669.30
TRQX	26	6.90	179.40
XLON	121	6.80	822.80
XLON	105	6.80	714.00
CHIX	25	6.70	167.50
BATE	44	6.68	293.92
Total	1,531	6.89	10,545.82
17/01/2019	XLON	9	6.80	61.20
TRQX	123	6.80	836.40
XLON	744	6.80	5,059.20
XLON	152	6.80	1,033.60
CHIX	130	6.80	884.00
XLON	154	6.78	1,044.12
XLON	21	6.78	142.38
XLON	91	6.76	615.16
XLON	139	6.70	931.30
TRQX	42	6.70	281.40
TRQX	62	6.70	415.40
Total	1,667	6.78	11,304.16
18/01/2019	XLON	187	6.78	1,267.86
XLON	171	6.78	1,159.38
CHIX	22	6.76	148.72
TRQX	17	6.76	114.92
XLON	188	6.74	1,267.12
XLON	184	6.72	1,236.48
BATE	181	6.72	1,216.32
CHIX	126	6.72	846.72
XLON	166	6.72	1,115.52
TRQX	77	6.70	515.90
TRQX	155	6.70	1,038.50
TRQX	4	6.70	26.80
TRQX	100	6.70	670.00
TRQX	14	6.68	93.52
Total	1,592	6.73	10,717.76