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Holding(s) in Company
Eurocastle Investment Limited
03 November 2004

                          STOCK EXCHANGE ANNOUNCEMENT

For immediate release

3rd November 2004

                         EUROCASTLE INVESTMENT LIMITED

                       Re: Interest of Major Shareholder

The Company wishes to announce that on 29th October 2004 Morgan Stanley
Securities Limited acquired an interest in the shares of the Company which
resulted in a total holding of 998,560 shares, being 5.41% of the issued share


Management International (Guernsey) Limited

Kate J A Stallard

Phone (+44 1481) 707198