Guernsey. 21 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 received formal regulatory clearance to acquire UniCredit Credit Management Bank S.p.A. ("UCCMB") from UniCredit. 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"). Eurocastle will acquire a 50% share of the deal for an equity investment of approximately €250 million, subject to customary closing adjustments.

UCCMB is the largest captive servicer in Italy with a banking license and approximately €34 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 existing NPLs with the right to service all of UniCredit's future NPLs with balances below €1 million generated in the 10-year period.

The transaction is expected to close in the coming weeks.