Eurocastle to Announce First Quarter Earnings on 28 May 2009

ST. PETER PORT, Guernsey - Eurocastle Investment Limited (Frankfurt Stock Exchange: EUI1 and Euronext Amsterdam: ECT) today announces that it will release its financial results for the first quarter ending on 31 March 2009 on Thursday, 28 May 2009 before the market opens. In addition, management will host an earnings conference call at 1:00 P.M. London time (8:00 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 +1-866-395-6634 (from within the U.S.) or +1-706-679-1521 (from outside of the U.S.) ten minutes prior to the scheduled start of the call; please reference “Eurocastle First Quarter Earnings Call.”

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 Thursday, 4 June 2009 by dialing +1-800-642-1687 (from within the U.S.) or +1-706-645-9291 (from outside of the U.S.); please reference access code “10790383.”

About Eurocastle

Eurocastle Investment Limited is an investment company which primarily owns and manages German commercial real estate assets. The Company is Euro denominated and is listed on Frankfurt Stock Exchange under the symbol “EUI1″ and on Euronext Amsterdam under the symbol “ECT.” Eurocastle is managed by an affiliate of Fortress Investment Group LLC, a leading global alternative asset manager. For more information regarding Eurocastle Investment Limited and to be added to our email distribution list, please visit www.eurocastleinv.com.

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

Source: Eurocastle Investment Limited

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