Eurocastle Announces New NPL Transaction and Reschedules Third Quarter 2017 Earnings Call

Guernsey. 20 November 2017 - Eurocastle Investment Limited (Euronext Amsterdam: ECT) ("Eurocastle" or the "Company") today announces that it has committed €12.2 million to acquire a shared interest, alongside affiliates of Fortress Investment Group LLC, in a portfolio of Italian non-performing loans with a gross book value of approximately €293 million. The loans are approximately 83% secured mainly by residential real estate. The transaction is expected to fund by end of November 2017.

In addition, the Company announces that it is rescheduling the release of its financial results for the quarter ended 30 September 2017 to Wednesday, 29 November, 2017 before the market opens. In addition, management will host an earnings conference call at 2:00 p.m. London time (9:00 a.m. New York time) later that day. All interested parties are welcome to participate on the live call. You can access the conference call by dialing first +1-800-215-5243 (from within the U.S.) or +1-330-863- 8154 (from outside of the U.S.) ten minutes prior to the scheduled start of the call; please reference "Eurocastle Third Quarter 2017 Earnings Call" or conference ID number "4446821".

A webcast of the conference call will be available to the public on a listen-only basis at www.eurocastleinv.com. Please allow extra time prior to the call to visit the site and download the necessary software required to listen to the internet broadcast. A replay of the webcast will be available for three months following the call. For those who are not available to listen to the live call, a replay will be available until 11:59 p.m. New York time on Friday, 5 January 2017 by dialing +1-855-859-2056 (from within the U.S.) or +1-404-537-3406 (from outside of the U.S.); please reference access code "4446821".

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 visit www.eurocastleinv.com.