Subsidiary Accounts Filed and Published

BCRE - Brack Capital Real Estate Investments N.V.

("BCRE" or the "Company")

Subsidiary Accounts Filed and Published on the Tel Aviv Stock Exchange (the "TASE")

BCRE announces that Brack Capital Properties N.V. ("BCP"), a subsidiary of the Company, whose shares are traded on the TASE, has published its annual report for the year ended 31 December 2014 (the "annual report").

The annual report published by BCP includes:

1. Description of BCP's business

2. Board of Directors' report on the Corporation's state of affairs

3. Consolidated financial statements as of 31 December 2014

4. Presentation of financial data from the consolidated financial statements attributed to BCP itself as of 31 December 2014

5. Material valuation report

For ease of reference, we have provided an uncertified English translation of the above documents along with the Hebrew certified versions on the Company's website - www.brack-capital.com.

Key highlights relating to the principal results for the year ended 31 December 2014 are:

1. Profitability - For 2014, BCP's net income attributable to its shareholders amounted to EUR 38 million compared to income of EUR 25.8 million for 2013. The following is the contribution from income producing real estate and residential development activities to BCP's results:

- Income producing real estate - For 2014, the Funds From Operations ("FFO") amounted to EUR 19.9 million compared to EUR 14.75 million for 2013. In the fourth quarter of 2014, the FFO amounted to EUR 5.5 million grossing up to an annual FFO of EUR 22 million.

- Residential development activity - For 2014, the contribution to profit in the Grafental project amounted to EUR 12.4 million (consolidated) from delivering 181 apartments in Stage A (202 apartments).

2. Equity and NAV - The equity attributable to BCP's shareholders amounted to approximately EUR 279.6 million and the NAV1 amounted to EUR 340.7 million as at 31 December 2014, reflecting an annual growth of 18% and 16%, respectively.

3. High financial stability - The net debt ratio to balance sheet is approximately 55% and the debt ratio to net CAP is 63.1% as at 31 December 2014. The EBITDA ratio to interest expenses (only from the income producing portfolio, excluding operating income from entrepreneurship activity) is 2.5 in the fourth quarter of 2014. In addition, cash balances amounted to approximately EUR 60 million as at 31 December 2014.

1Adjusted EPRA NAV - for further information refer to Board of Director's Report on the Corporation's state of affairs for 2014

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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 400 staff. At present, the Company has offices and teams in New York, London, Frankfurt, Düsseldorf, Moscow, Kazan, New Delhi, Amsterdam, Limassol and Budapest.