Announcement

LAMDA Development S.A. in accordance to the Decision 6/448/11.10.2007 of the Board of Directors of the Capital Market Commission and with regard to the published Financial Statements in the press for the period 01.01.2008-31.03.2008, proceeds to the following additional information as at 31.03.2008:

i) No provisions were formed regarding dispute, litigation, arbitrations or any court decisions

ii) The provisions for un-audited tax years for the Group and the Company amount to €648k. and €500k. respectively

iii) Other provisions formed for the Group and the Company amount to €2.217k. and €198k. respectively and concern provisions for bad debts and unpaid staff leave.

The aforementioned provisions were formed during the previous fiscal years.

The above notifications have no effect on the published results and equity of the Company and the Group for the period 01.01.2008-31.03.2008.