SWEF: Result of Placing

NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, TO U.S. PERSONS OR IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, SOUTH AFRICA, JAPAN, NEW ZEALAND OR ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION

This announcement does not constitute an offer to sell, or the solicitation of an offer to subscribe for or to buy, shares in any jurisdiction.

This announcement is neither an advertisement, a prospectus nor a financial promotion.

Starwood European Real Estate Finance Limited: Result of Placing

Further to the Company's announcement released today at 7.00 a.m., it is now confirmed that the Placing has closed and that the Company has issued, subject only to Admission, 70,839,398 New Ordinary Shares pursuant to the Placing Programme at an Issue Price of 103.05 pence per Ordinary Share, to raise £73 million before expenses.

Investors subscribing for New Ordinary Shares in the Placing will be informed of their allocations, which were subject to scaling back.

It is expected that Admission will occur at 8.00 a.m. on 12 August 2016. Further information relating to the Placing can be found in the Company's announcement released today at 7.00 a.m.

Following the completion of the Placing there will be 375,019,398 Ordinary Shares in issue. Each Ordinary Share carries the right to one vote and, therefore, the total number of voting rights in the Company on Admission will be 375,019,398. This figure may be used by Shareholders and other investors as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

For further information, please contact:

Peter Denton - Starwood Capital - 020 7016 3664

Robert Peel - Fidante Capital - 020 7832 0900

The person responsible for arranging for the release of this announcement on behalf of the Company is Nick Robilliard of Ipes (Guernsey) Limited, company secretary.

Terms not defined in this Announcement shall have the same meaning set out in the Prospectus.

Notes:

Starwood European Real Estate Finance Limited is an investment company listed on the main market of the London Stock Exchange with an investment objective to provide Shareholders with regular dividends and an attractive total return while limiting downside risk, through the origination, execution, acquisition and servicing of a diversified portfolio of real estate debt investments in the UK and the wider European Union's internal market. www.starwoodeuropeanfinance.com.

The Group is the largest London-listed vehicle to provide investors with pure play exposure to real estate lending.

The Group's assets are managed by Starwood European Finance Partners Limited, an indirect wholly-owned subsidiary of the Starwood Capital Group.

This announcement is not for distribution, directly or indirectly, in or into the United States of America (including its territories and possessions, any state of the United States of America and the District of Columbia) (the 'United States'), Australia, Canada, Japan, New Zealand or South Africa. This announcement does not constitute, or form part of, an offer to sell, or a solicitation of an offer to purchase, any securities in the United States, Australia, Canada, Japan, New Zealand or South Africa. The securities of the Company have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the 'Securities Act') or the US Investment Company Act of 1940, as amended and may not be offered or sold directly or indirectly in or into the United States or to or for the account or benefit of any US Person (within the meaning of Regulation S under the Securities Act). The securities referred to herein have not been registered under the applicable securities laws of Australia, Canada, Japan, New Zealand or South Africa and, subject to certain exceptions, may not be offered or sold within Australia, Canada, Japan, New Zealand or South Africa or to any national, resident or citizen of Australia, Canada, Japan, New Zealand or South Africa.

This announcement contains (or may contain) certain 'forward-looking statements' with respect to certain of the Company's plans and its current goals or expectations relating to its future financial condition and performance and which involve a number of risks and uncertainties. Examples of such forward-looking statements include, among others, statements regarding the Company's strategy, future plans, present or future events, or objectives for future operations that involve risks and uncertainties and are not historic fact. Such statements are based on current expectations and, by their nature, are subject to a number of risks and uncertainties that could cause actual results and performance to differ materially from any expected future results or performance, expressed or implied, by the forward-looking statement. No assurance can be given that such forward-looking statements results will be achieved. Factors that might cause forward-looking statements to differ materially from actual results include, among other things, the following: global economic conditions, economic conditions in the UK and other jurisdictions in which the Company operates or invests, the effects of continued volatility in credit markets, exchange rate fluctuations and legislative, fiscal and regulatory developments. The forward-looking statements contained in this Announcement speak only as of the date of this Announcement and the Company assumes no obligation to, and does not intend to update or revise publicly any of them whether as a result of new information, future events or otherwise, except to the extent required by the Financial Conduct Authority, the London Stock Exchange or by applicable law, the Prospectus Rules, the Listing Rules and the Disclosure Guidance and Transparency Rules.

This announcement has been issued by and is the sole responsibility of the Company. No representation or warranty, express or implied, is or will be made as to, or in relation to, and no responsibility or liability is or will be accepted by Fidante Capital or by any of its affiliates or agents as to or in relation to the accuracy or completeness of this announcement or any other written or oral information made available to or publicly available to any interested party or its advisers and any liability therefore is expressly disclaimed.

Fidante Partners Europe Limited (trading as 'Fidante Capital') which is authorised and regulated in the United Kingdom by the FCA, is acting as sole Sponsor and Bookrunner to the Company in connection with the matters described herein. Fidante Capital is acting for the Company in relation to the matters described herein and no one else and will not be responsible to anyone other than the Company for providing the protections afforded to its clients, nor for providing advice in relation to the Placing Programme, the contents of this announcement, the Prospectus or any transaction or arrangement referred to herein.