Eurocastle Expands Its Board of Directors
Released: 23/08/2006
Guernsey. 23 August 2006 – Eurocastle Investment Limited (“Eurocastle”) (Euronext Amsterdam: ECT) is pleased to announce our three newest board members: Dr. Udo Scheffel, Dr. Simon John Thornton and Mr. Randal A. Nardone.
As Eurocastle seeks to become the leading German commercial property owner, we have expanded the board to include members with local in-depth real estate knowledge as well as continued focus on corporate governance.
Dr. Scheffel is an experienced German real estate professional with over 15 years of experience in the German property sector. Most recently, he was the chief executive officer of the Bayerische Immobilien Gruppe, a major German privately held commercial property company.
Dr. Thornton is a managing director of the Praxis Group, one of the largest independently owned financial services groups in the Channel Islands. At Praxis, he advises corporate and private clients providing fiduciary, accounting and auditing, taxation and fund administration services in the Channel Islands. Dr. Thornton joined the Praxis Group in 1992 and is a qualified chartered accountant.
Mr. Nardone is a principal and member of the management committee of Fortress Investment Group LLC, Eurocastle’s external manager. Mr. Nardone oversees Fortress's structured finance and legal matters.
In addition, Mr. Edens has been appointed Chairman of the Board, replacing Mr. Paolo Bassi who will remain a director. Mr. Edens has been a director of Eurocastle since its inception in August 2003. He is currently a principal and chairman of the management committee of Fortress.
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 $23 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.
Contact:
International Administration (Guernsey) Limited
Company Administrator
Attn: Mark Woodall
Tel: +44 1481 723450
