Eurocastle Announces a New Investment in UniCredit Credit Management Bank and a Portfolio of Non-Performing Loans

EUROCASTLE INVESTMENT LIMITED

                                                                                                            FOR IMMEDIATE RELEASE
Contact:
International Administration Group (Guernsey) Limited
Company Administrator
Attn:  Mark Woodall
Tel:  +44 1481 723450                                                              

Eurocastle Announces a New Investment in UniCredit Credit Management Bank and

a Portfolio of Non-Performing Loans

Guernsey. 12 February 2015 - Eurocastle Investment Limited (Euronext Amsterdam: ECT) ("Eurocastle" or the "Company") announces that, together with other affiliates of Fortress Investment Group LLC, it has reached an agreement to acquire UniCredit Credit Management Bank S.p.A. ("UCCMB") from UniCredit.  The acquisition includes a portfolio of non-performing loans ("NPLs") with a GBV of approximately €2.4 billion and an NPL servicing business (the "Servicer"). This investment is expected to result in an investment by Eurocastle of approximately €200 million.
                                           
UCCMB is the largest captive servicer in Italy with approximately €34.1 billion assets under management and a wide network of branches throughout Italy. In addition to the acquisition of the NPLs and the Servicer, the transaction includes a 10-year servicing contract on existing NPLs with the right to service all of UniCredit's future NPLs with balances below €1 million generated in the 10-year period.

The deal, which is subject to regulatory approval and customary conditions, is expected to close in the second quarter of 2015.

About Eurocastle
Eurocastle Investment Limited is a closed-ended investment company that owns Italian loans and real estate related assets, German commercial real estate and European real estate securities and loans. 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.