Eurocastle Announces a Dividend of €0.30 Per Share for the First Quarter 2006

Released: 17/05/2006

Guernsey. 17 May 2006 – Eurocastle Investment Limited (“Eurocastle”) (Euronext Amsterdam: ECT) announced today that its Board of Directors has declared a quarterly cash dividend of €0.30 per share for the quarter ended 31 March 2006. The €0.30 per share dividend is payable on 2 June 2006 to holders of record of Eurocastle’s shares on 17 May 2006.

About Eurocastle
Eurocastle Investment Limited is a closed-ended investment company which invests primarily in German commercial real estate assets and real estate related debt. The Company is Euro denominated and is listed on Euronext Amsterdam under the symbol “ECT.” Eurocastle is managed by Fortress Investment Group, a global alternative investment and asset management firm with over $20 billion in equity capital currently under management. For more information regarding Eurocastle Investment Limited and to be added to our email distribution list, please visit www.eurocastleinv.com.