Eurocastle Announces an €8.8 million Investment in Two Non-Performing Loan Portfolios

EUROCASTLE INVESTMENT LIMITED

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

Eurocastle Announces an €8.8 million Investment in Two Non-Performing Loan Portfolios

Guernsey. 24 December 2014 - Eurocastle Investment Limited (Euronext Amsterdam: ECT) ("Eurocastle" or the "Company") announces that the Company has invested €8.8 million to acquire a joint interest in two portfolios of non-performing loans with a combined Gross Book Value ("GBV") of approximately €1.2 billion. The portfolios include (i) a pool from one of Italy's "top 5" banks and (ii) the next investment in a series of anticipated transactions with an Italian banking group. Both portfolios are expected to close before 31 December 2014.

Affiliates of Fortress Investment Group LLC have invested alongside Eurocastle by acquiring the remaining interest in these portfolios. Italfondiario, the largest non-bank servicer in Italy, will be the servicer of the loans. Italfondiario currently services over 386,000 loans with over €37 billion GBV.

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.