Announcement for the purchase of own shares

CORPORATE TRANSACTIONS
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LAMDA Development S.A. announces the following:

A. The Annual General Meeting of the Shareholders dated 5 May, 2009 approved the acquisition of own shares through the Athens Exchange, in accordance with the article 16 of C.L. 2190/1920, as in force, under the following conditions:

  1. The Company will acquire own shares up to 24 months from the date of the Annual General Meeting, that is until 5.5.2011.
  2. The maximum number of own shares to be acquired during the abovementioned period will not exceed the 10% of the total share capital, i.e. 4.402.995 shares, including the already purchased.
  3. The acquisition of the abovementioned own shares will take place at a maximum acquisition price of 18 euros per share and a minimum acquisition price of 2 euros per share.
  4. The Board of Directors was authorized to determine the specific terms and details for the implementation of the program.

B. The Board of Directors, in application of the above resolution, decided on its meeting on the 5th, May 2009, that the Company will purchase own shares during the period from 7.5.2009 until 5.5.2011.