Eurocastle Sells Wave Portfolio

EUROCASTLE INVESTMENT LIMITED

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

Eurocastle Sells Wave Portfolio

Guernsey. 24 April 2015

In line with its strategy to accelerate recoveries from its legacy real estate assets in Germany, Eurocastle Investment Limited (Euronext Amsterdam: ECT) today announced that it has agreed to sell its Wave portfolio. The sale is expected to generate approximately €30 million of net proceeds to the Company before expected historic taxes in the range of €6 million to €8 million. The portfolio is comprised of 44 office buildings with a net lettable area of c. 109,000 sqm spread across 41 cities and towns throughout Germany. The transaction, which is subject to customary closing conditions, is expected to close before the end of September 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.