Announcement

LAMDA Development S.A. (herein the Company) informs the investors, that the Company has proceeded to an increase of its participation in LAMDA Olympia Village (herein LOV SA).

More specifically the Company acquired:

a. 66.966 shares, which is 0,76% of the share capital, at the price of € 1.573.701,00, after the participation in the open tender that was announced by the Municipality of Maroussi, shareholder of LOV A.E., with protocol number 76475/14.10.2010.

b. 34 shares, at the price of € 1.420,90, after the participation in the open tender that was announced by the KOINOFELHS EPIXEIRHSH TEXNOLOGIAS KAI EKPEDEYSHS DHMOU AMAROUSIOU, shareholder of LOV A.E., with protocol number 778/2.11.2010.

Following the above transaction the Company holds a 50% of the share capital of LOV SA.