Acquisition of Own Shares

In accordance with Regulation of the Committee of European Community no 2273/2003, article 4, par.4, LAMDA Development S.A. (“the Company”) announces that following the decision of the Annual General Meeting of the Shareholders of the Company and the Board of Directors’ resolution dated May 22, 2008 purchased own shares through the Athens Exchange Member National P&K Securities, as follows:

On November 20, 2008 the Company purchased 24.000 shares, with average cost price € 3,99 per share and total purchase price € 95.651,00