Announcement in relation to business development

LAMDA Development S.A. announces that HRADF, following the recommendation of its technical advisors, considered that the technical offer of the Company for the development of Hellinikon project, is in principle compatible with the existing legal framework and the requirements of the tender and at this stage is accepted.

The opening of the Company’s financial offer will take place shortly.

The video related to the plan of Lamda Development S.A. for the development of Hellinikon project is uploaded the following link: http://youtu.be/4Zn-3UnaCtc

The project includes the creation of a 2 mil. Sqm metropolitan park – which will be one of the biggest parks worldwide, world class sport centers, upgraded seafront, all open to public, as well as tourism facilities, thus creating a destination that is expected to attract an additional 1,000,000 tourists in Athens.