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Holding(s) in Company
Eurocastle Investment Limited
19 October 2004

                          STOCK EXCHANGE ANNOUNCEMENT

For immediate release
19th October 2004

                         EUROCASTLE INVESTMENT LIMITED

                       Re: Interest of Major Shareholder

The Company wishes to announce that on 13th October 2004 Morgan Stanley
Securities Limited acquired an interest in the shares of the Company which
resulted in a total holding of 739,948 shares, being 4.01% of the issued share


Management International (Guernsey) Limited

Rochelle Mei-Ling Yau

Phone (+44 1481) 707211