Kennedy Wilson Invests $203M in $1.7B Initial Public Offering of Kennedy Wilson Europe Real Estate Plc

  Kennedy Wilson Invests $203M in $1.7B Initial Public Offering of Kennedy
  Wilson Europe Real Estate Plc

Business Wire

BEVERLY HILLS, Calif. -- February 28, 2014

International real estate investment and services firm, Kennedy-Wilson
Holdings, Inc. (NYSE: KW) (“Kennedy Wilson” or the “Company”) today announced
that the Company subscribed for a total of £122.0 million (approximately $203
million) of ordinary shares in the initial public offering of Kennedy Wilson
Europe Real Estate Plc’s (LSE: KWE) (“KWE”) ordinary shares on the London
Stock Exchange. On February 28, 2014, KWE announced the closing of its initial
public offering, raising approximately £1 billion (approximately $1.7 billion)
in gross proceeds (assuming the £91 million (approximately $151 million)
over-allotment option is fully exercised). Immediately following the closing,
Kennedy Wilson’s investment represented approximately 13.4% of KWE’s total
share capital, making Kennedy Wilson the largest shareholder of KWE.

“Our investment in Kennedy Wilson Europe Real Estate Plc represents the single
largest investment in the Company’s history,” said Mary Ricks, president and
CEO of Kennedy Wilson Europe. “Our operating platforms in the UK, Ireland and
Spain will look to leverage this capital to take advantage of the current
opportunity set in Europe.”

A wholly-owned subsidiary of the Company will act as KWE’s external manager,
in which capacity it will be entitled to receive certain management and
performance fees.

Kennedy Wilson, together with its equity partners, has acquired in excess of
$5 billion of real estate and real estate related debt in Europe since 2011.

This news release does not constitute an offer to sell, or the solicitation of
an offer to buy, any securities, including any securities of KWE.

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 24
offices in the U.S., U.K., Ireland, Spain and Japan. 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


Kennedy Wilson
Christina Cha
VP of Corporate Communication
(310) 887-6294
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