ECT Eurocastle Investment

Eurocastle Announces Resignation of Mr. Randal Nardone from Board of Directors and Appointment of Mr. Constantine Dakolias as Non-Independent Director

             Contact:        Oak Fund Services (Guernsey) LimitedCompany AdministratorAttn: Tracy LewisTel: +44 1481 723450        

Eurocastle Announces Resignation of Mr. Randal Nardone from Board of Directors and Appointment of Mr. Constantine Dakolias as Non-Independent Director

Guernsey, 24 August 2022 – Eurocastle Investment Limited (Euronext Amsterdam: ECT) today announces that after 16 years of valuable service, Mr. Randal A. Nardone retired as a non-independent director of the Company on 23 August 2022. The Board is at the same time delighted to announce that Mr. Constantine (Dean) Dakolias has agreed to join the Board as a new non-independent director, subject to the completion of formalities.

Mr. Dakolias is a Managing Partner of the Fortress Credit Funds Business. Mr. Dakolias also serves on Fortress’s Management and Operating Committees. Prior to joining Fortress in 2001, Mr. Dakolias was a Managing Director, Chief Credit Officer and co-founder of American Commercial Capital LLC (a specialty finance company) and Coronado Advisors (an SEC registered broker dealer), both of which were sold to Wells Fargo in 2001. Mr. Dakolias was previously a director at RER Financial Group where he was responsible for the firm's acquisition efforts as a principal and as a provider of third-party due diligence and asset management. Mr. Dakolias serves on the Board of Trustees for Columbia University, the American School of Classical Studies at Athens, and the Millbrook School. Mr. Dakolias is also a co-founder and member of the Executive Committee of The Hellenic Initiative, as well as a member of the Council on Foreign Relations. Mr. Dakolias received a B.S. in Physics from Columbia University.

The Board is of the view that the appointment of Mr. Dakolias as a non-independent director, given the breadth of his investment experience and in particular his deep knowledge of the Greek market, will be extremely valuable in light of the Relaunch of Eurocastle’s investment activity.

ABOUT EUROCASTLE

Eurocastle Investment Limited (“Eurocastle” or the “Company”) is a publicly traded closed-ended investment company. On 18 November 2019, the Company announced a plan to realise the majority of its assets with the aim of accelerating the return of value to shareholders. On 8 July 2022, the Company announced the relaunch of its investment activity with the aim to build a Southern European speciality finance and real estate platform. For more information regarding Eurocastle Investment Limited and to be added to our email distribution list, please visit www.eurocastleinv.com.