Refinancing of bank loans in Russia - extension

1 December 2017

BCRE - Brack Capital Real Estate Investments N.V.

("BCRE" or the "Company")

Further extension of completion date for the refinancing of bank loans in

Russia

Further to the announcement on 11 August 2017, the Company hereby announces that the date for the completion of the conditions precedent with respect to the refinancing of the existing bank loan facilities entered into by subsidiaries or associates of BCRE Russia in December 2016 has been extended. The Company shall make an announcement when the extended completion date is agreed.

ENQUIRIES:

BCRE - Brack Capital Real Estate Investments N.V.

Ariel Podrojski, Chief Executive Officer

Nansia Koutsou, Chief Financial Officer / Chief Operating Officer +31 20 514 1004

Novella Communications

Tim Robertson

Toby Andrews +44 203 151 7008

About BCRE

BCRE is an international real estate development and investment group, headquartered in the Netherlands and listed on the London Stock Exchange. Through its subsidiary and associated undertakings, the Company is interested in, develops and operates an international portfolio of real estate assets in the markets it operates.

The Company has established local management team platforms with significant local market expertise. At present, the Company has offices and teams in New York, London, Moscow, Kazan, New Delhi, Amsterdam and Limassol.