23 October 2014

KENNEDY WILSON EUROPE REAL ESTATE PLC

TOTAL VOTING RIGHTS

Further to the announcement on 21 October 2014 made by Kennedy Wilson Europe Real Estate Plc ("KWERE" or the "Company"), a London Stock Exchange listed company that invests primarily in real estate and real estate loans in Europe (LSE: KWE), the Company is pleased to announce that Open Offer Admission of 24,956,079 Open Offer Shares issued pursuant to the Placing and Open Offer occurred this morning at 8.00 a.m.

As at 23 October 2014, the Company's share capital consists of a total of 135,163,725 ordinary shares of no par value (the "Ordinary Shares"), with each such Ordinary Share carrying the right to one vote.  The Company does not hold any Ordinary Shares in treasury.  The total number of voting rights in KWERE is therefore 135,163,725. The above figure of 135,163,725 ordinary shares may be used by shareholders of the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the Company's articles of association and the FCA's Disclosure and Transparency Rules.

Unless defined herein, capitalised terms used in this announcement shall have the meaning attributed to them in the Prospectus published by the Company on 3 October 2014.

For further information, please contact:

Administrator and Company Secretary to the Company

Crestbridge Fund Administrators Limited                                                              +44 (0) 1534 835 600

Paul Perris/Ben Durbano

FTI Consulting - financial public relations

Richard Sunderland/ Nick Taylor/ Dido Laurimore:                                            +44 (0)203 727 1000

kennedywilson@fticonsulting.com

About Kennedy Wilson Europe Real Estate Plc

Kennedy Wilson Europe Real Estate Plc is an LSE listed closed ended investment fund that invests primarily in real estate and real estate loans in Europe, initially in the UK, Ireland and Spain, and other European countries on an opportunistic basis. The Company's primary objectives are to generate and grow long-term cash flows to pay dividends and to enhance capital values by way of focused asset management and strategic acquisitions, with the intention of creating value for shareholders. The Company is externally managed by Kennedy Wilson, through a wholly-owned subsidiary acting as investment manager. The Company is regulated by the Jersey Financial Services Commission. For further information on Kennedy Wilson Europe Real Estate Plc, please visit www.kennedywilsoneuropeplc.com.

About Kennedy Wilson

Founded in 1977, Kennedy Wilson is a vertically integrated global real estate investment and services company headquartered in Beverly Hills, CA, with 25 offices in the U.S., U.K., Ireland, Spain, Japan and Jersey. The company, on its own or with partners, invests opportunistically in a variety of real estate related investments, including commercial, multifamily, loan purchases and originations, residential, and hotels. Kennedy Wilson offers a comprehensive array of real estate services including investment management, property services, auction, conventional sales, brokerage and research. For further information on Kennedy Wilson, please visit www.kennedywilson.com.