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Kennedy Wilson and Partner Acquire Loan Secured by Prime Office Building in Dublin

  Kennedy Wilson and Partner Acquire Loan Secured by Prime Office Building in
  Dublin

Company completes $1.4 billion of acquisitions in Europe this year, including
            $900 million of acquisitions during the fourth quarter

Business Wire

BEVERLY HILLS, Calif. -- December 20, 2012

International real estate investment and services firm Kennedy Wilson (NYSE:
KW) today announced that the company and one of its investment partners
acquired a loan with an unpaid principal balance of €120 million. The loan is
secured by an office building and adjacent three-acre site in Dublin. The
building is 100% leased on a long-term basis. Additionally, in partnership
with a European financial institution, the company today acquired a large
U.K.-based commercial loan portfolio secured by real estate.

“The office building is located in the South Docklands, which has established
itself as the principal office district in Dublin,” said Mary Ricks, president
and CEO of Kennedy Wilson Europe. “Grade A space vacancy in the area is
trending down while development has fallen over the last few years, so there
is not any significant new supply.”

Including these transactions and the previously announced purchase of Sandford
Lodge, the company and its partners have completed approximately $900 million
of acquisitions in Europe during the fourth quarter of 2012. In total, Kennedy
Wilson has contributed approximately $110 million into these transactions.

Ricks commented, “This year has been tremendous for Kennedy Wilson as we have
built up the company’s presence in Europe, and we continue to be active in the
fourth quarter. We are very proud of our team of 33 professionals here in
London, Dublin and Madrid and look forward to continue growing the company’s
assets under management as we see opportunities that fit within our business
plan.”

Kennedy Wilson, together with its institutional partners, has acquired $7.8
billion of real estate and real estate related debt since the beginning of
2010, including approximately $3.6 billion of assets in Europe. In 2012, on a
global basis, the company and its partners have acquired $2.7 billion of real
estate and real estate related debt, including $1.4 billion in Europe.

About Kennedy Wilson

Founded in 1977, Kennedy Wilson is an international real estate investment and
services company headquartered in Beverly Hills, CA with 24 offices in the
U.S., U.K., Ireland, Spain and Japan. The company offers a comprehensive array
of real estate services including auction, conventional sales, property
services, research and investment management. Through its fund management and
separate account businesses, Kennedy Wilson is a strategic investor of real
estate investments in the U.S., U.K., Ireland and Japan. For further
information on Kennedy Wilson, please visit www.kennedywilson.com.

Contact:

Kennedy Wilson
Christina Cha
VP of Corporate Communication
310-887-6294
ccha@kennedywilson.com
www.kennedywilson.com