Eurocastle Investment Limited : Eurocastle Completes Acquisition of UniCredit Credit Management Bank

EUROCASTLE INVESTMENT LIMITED

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

Eurocastle Completes Acquisition of UniCredit Credit Management Bank

Guernsey. 30 October 2015 - Eurocastle Investment Limited (Euronext Amsterdam: ECT) ("Eurocastle" or the "Company") announces that, together with other affiliates of Fortress Investment Group LLC, it has completed the acquisition of UniCredit Credit Management Bank S.p.A. ("UCCMB") from UniCredit.  Eurocastle acquired a 50% share of the deal for an equity investment of approximately €250 million, subject to certain post-closing adjustments. 

As previously announced, 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").  The Servicer has been renamed from UCCMB to doBank and is now the largest third party servicer in Italy.  doBank has a banking license, over €45 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 future sub-performing and non-performing loans with balances below €1 million and selected assets above €1 million.

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.