Guernsey, 12 July 2017 - Eurocastle Investment Limited ("Eurocastle" or the "Company") today announces that doBank, in which Eurocastle holds a 50% stake, has reported the pricing of the initial public offering of 34,700,000 shares at €9.00 per share. This represents 44.35% of doBank's share capital (excluding 1,750,000 of treasury shares) following full exercise of the upsize option. These figures do not include up to a further 3,470,000 shares which can be sold as part of the greenshoe option at the discretion of the Joint Global Coordinators within 30 days following the first day of trading. The shares, which were sold by Eurocastle and other Fortress affiliates, are expected to commence trading on Friday, 14 July 2017 on the Mercato Telematico Azionario organised and managed by Borsa Italiana S.p.A. ("MTA").

The price of €9.00 per share equates to a market capitalisation of doBank of €704 million. Eurocastle's most recently reported adjusted NAV for its 50% interest of doBank is €270 million. Following settlement of the offering, Eurocastle and other Fortress affiliates will retain an 55.65% interest in doBank, or 51.22% should the greenshoe option be exercised in full (excluding 1,750,000 of treasury shares).

Further information regarding this transaction and how it affects Eurocastle will be provided with the Company's financial results for the second quarter ended 30 June 2017, which will be released on 3 August 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 Second Quarter 2017 Earnings Call or conference ID number 54172236".

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 c all 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 Sunday, 3 September 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 "54172236"