Eurocastle Investment Limited : Acquisition of UniCredit NPL Portfolio and Declaration of Dividend

EUROCASTLE INVESTMENT LIMITED

FOR IMMEDIATE RELEASE

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

Eurocastle Announces Acquisition of UniCredit NPL Portfolio,

Declares a Dividend of €0.15 per Ordinary Share for the Fourth Quarter 2016
Guernsey, 15 December 2016 - Eurocastle Investment Limited (Euronext
Amsterdam: ECT) today announces that the Company, together with other
affiliates of Fortress Investment Group LLC, has agreed to acquire a
significant portion of a €17.7 billion portfolio of Italian non-performing
loans from UniCredit S.p.A. The transaction entails an anticipated equity
investment for Eurocastle of between €50 million and €70 million, dependent
on the level of interim cash collections from the portfolio.

In addition, the Company's Board of Directors has declared a fourth quarter
2016 cash dividend of €0.15 per ordinary share, a 20% increase over the
previous quarter's dividend. This higher dividend brings the Company in line
with previously communicated guidance.

The dividend is payable on 31 January 2017 to shareholders of record at close
of business on 22 December 2016, with an ex-dividend date of 21 December
2016.

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.

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Source: Eurocastle Investment Limited via Globenewswire