Update Directorate Change

6 March 2017

BCRE - Brack Capital Real Estate Investments N.V.

("BCRE" or the "Company")

Update Directorate Change

Further to the announcement on 11 January 2017, the Company confirms that Mr. Jan H. van der Meer has informed BCRE, after closing of the markets on Friday, of his decision to resign as non-executive Director of the Company's Board of Directors with immediate effect instead as of April 2017, as previously announced. On 12 January 2017, Brack Capital Properties N.V. ("BCP"), an associate undertaking of the Company whose shares are traded on the Tel Aviv Stock Exchange, also announced that Mr Jan H. van der Meer will be resigning from the board of directors of BCP by 1 April 2017.

BCRE would like again to thank Mr. Jan H. van der Meer for his significant contribution to the Company and to express its gratitude for the opportunity to work with him during the past years.

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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 and Russia.

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 and Limassol.