January 16,2018

Eppley Limited (EPLY) has announced an agreement pursuant to which  Eppley Fund Managers, a wholly owned subsidiary of EPLY, will assume all investment management and advisory responsibilities for Fortress Caribbean Property Fund Limited SCC (‘the Fund’). Under the agreement , Eppley Fund Managers Limited will acquire the unlisted common shares of the Fund now held by Fortress and Altman Real Estate and will also assume control and management of the Fund. The agreement has received the full support of the Fund’s Board of Directors but remains subject to regulatory and other approvals. The listed cellular shares held by the over 2,000 individual and institutional investors in the Fund’s two cells (Value Fund and Development Fund) are not part of this agreement.