12 May 2016

KENNEDY WILSON EUROPE REAL ESTATE PLC

("KWE", the "Company")

DIRECTOR/PDMR DEALING

Kennedy Wilson Europe Real Estate Plc (LSE: KWE) announces that it was notified on 11 May 2016, that Mary Ricks, a director of the Company, purchased 20,000 ordinary shares in the capital of the Company (Ordinary Shares) at an average price of £10.82 per Ordinary Share. The transaction took place on the London Stock Exchange on 10 and 11 May 2016.

Following this purchase, Mary Ricks is interested in 140,916 Ordinary Shares representing 0.1 per cent of the issued Ordinary Share capital of the Company.

This notification is to satisfy the Company's obligations under DTR 3.1.4(R)(1)(a).