Replacement - Subsidiary completes a transaction

GENERAL TEXT AMENDMENT

The following amendment has been made to the announcement released on 1 June 2016 at 11.00am under RNS No 8632Z.

The transaction completion date has been changed from 31 May 2016 to 1 June 2016.

All other details remain unchanged.

The full amended text is shown below.

1 June 2016

BCRE - Brack Capital Real Estate Investments N.V.

("BCRE" or the "Company")

Subsidiary announces the completion of a transaction

Further to the announcement on 17 March 2016, regarding the entry into a notarized sale agreement for the purchase of 287 residential units in Kiel, Germany for a total consideration of EUR 36 million (including related transaction costs) by the Company's subsidiary Brack Capital Properties N.V. ("BCRE Germany"), whose shares are traded on the Tel Aviv Stock Exchange ("TASE"), the Company is pleased to announce that BCRE Germany has published that the transaction was completed on 1 June 2016.

For ease of reference, the uncertified English translation of the announcement together with the original announcement which was published on the TASE in Hebrew, is available on the Company's website www.brack-capital.com.

ENQUIRIES:

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, predominantly located in the USA, Germany, Russia, India and the UK.

The Company has established local management team platforms with significant local market expertise in the US, Germany, Russia, India and the UK with exclusive access to over 550 staff. At present, the Company has offices and teams in New York, London, Frankfurt, Düsseldorf, Moscow, Kazan, New Delhi, Amsterdam, Limassol and Budapest.