RNS Number:5832N 
Eurocastle Investment Limited 
15 June 2005 
 
 
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS NOT FOR PUBLICATION, 
DISTRIBUTION OR RELEASE IN, OR INTO, DIRECTLY OR INDIRECTLY, THE UNITED STATES, 
CANADA, AUSTRALIA OR JAPAN. 
 
 
EUROCASTLE INVESTMENT LIMITED 
 
 
Contact:                                                   FOR IMMEDIATE RELEASE 
 
HSBC Securities Services Guernsey Limited 
Company Administrator 
Attn: Julian Carey 
Tel: + 44 1481 707000 
 
   
 Eurocastle Announces a Dividend Increase to e0.35 Per Share for the Second 
       Quarter 2005 and Offering of New Shares to Raise up to e90,000,000 
 
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Guernsey. 15 June 2005 - Eurocastle Investment Limited ("Eurocastle") (LSE: ECT) 
announced today that its Board of Directors has declared a quarterly cash 
dividend of e0.35 per share for the quarter ending 30 June 2005, up from e0.33 
per share in the first quarter of 2005. The e0.35 per share dividend is payable 
on 15 July 2005 to holders of record on 24 June 2005. 
 
Eurocastle also announced today a proposed offering of new shares to raise up to 
e90,000,000. The offering price per share and number of new shares will be 
announced following an institutional bookbuilding process. Assuming an offering 
of e90,000,000, based on the closing price per share on 14 June 2005, the 
offering represents approximately 22 per cent of Eurocastle's enlarged share 
capital immediately after the offering. The Company will grant to the managers 
of the offering an over-allotment option covering additional shares representing 
10 per cent of the new shares offered. 
 
The proceeds of the offering will be used to repay outstanding debt and to make 
further investments in accordance with Eurocastle's investment guidelines. 
 
Morgan Stanley and Deutsche Bank have been appointed as Joint Lead Managers and 
Joint Bookrunners to the offering. Swiss Finance & Property Corporation is 
acting as a co-manager. 
 
Eurocastle also announced today that in order to comply with a recent amendment 
to the Listing Rules which now requires that the chairman of a listed investment 
company be independent from the company's investment manager, the existing Board 
of Directors has appointed Paolo Bassi as its Chairman. No other changes have 
been made to the functions of the Company's Directors. 
 
It is expected that Listing Particulars containing details of the offering of 
the new shares will be published in accordance with the Listing Rules of the 
UKLA and made available for inspection at the Document Viewing Facility shortly. 
 
 
About Eurocastle 
 
Eurocastle is an investment company that invests in and manages a diverse 
portfolio consisting primarily of European real estate related debt and real 
estate assets. Eurocastle is managed by Fortress Investment Group LLC. 
 
                                     * * * 
 
Morgan Stanley Securities Limited and Deutsche Bank AG London are acting for the 
Company and no one else in connection with the proposed offering and will not be 
responsible to anyone other than the Company for providing the protections 
afforded to their respective clients or for providing advice in relation to the 
proposed offering or any other matter referred to herein. 
 
This announcement does not constitute an offer of securities for sale in the 
United States, nor may the Company's securities be offered or sold in the United 
States absent registration or an exemption from registration as provided in the 
U.S. Securities Act of 1933, as amended, and the rules and regulations 
thereunder. There is no intention to register any portion of any offering in the 
United States or to conduct a public offering of securities in the United 
States. The Company is not, and will not be, registered under the U.S. 
Investment Company Act of 1940, as amended, and investors will not be entitled 
to the benefits of such Act. 
 
The information contained herein shall not constitute an offer to sell or the 
solicitation of an offer to buy, nor shall there be any sale of the securities 
referred to herein in any jurisdiction in which such offer, solicitation or sale 
would be unlawful prior to registration, exemption from registration or 
qualification under the securities laws of any such jurisdiction. 
 
The contents of this announcement include statements that are, or may deemed to 
be "forward-looking statements". These forward-looking statements can be 
identified by the use of forward-looking terminology, including the terms 
"believes", "estimates", "anticipates", "expects", "intends", "may", "will" or 
"should". By their nature, forward-looking statements involve risks and 
uncertainties and readers are cautioned that any such forward-looking statements 
are not guarantees of future performance. The Company's actual results and 
performance may differ materially from the impression created by the 
forward-looking statements. The Company undertakes no obligation to publicly 
update or revise forward-looking statements, except as may be required by 
applicable law and regulation (including the Listing Rules). 
 
Stabilisation/FSA 
 
 
 
 
 
                      This information is provided by RNS 
            The company news service from the London Stock Exchange 
 
END 
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small e before a number denotes euros