Announcement in relation to business development

LAMDA DEVELOMENT S.A. announces, the conclusion on February 17, 2016 of the acquisition of 80% of joint ownership in 86 premises located in the office building Kronos Business Center in Maroussi, by its 100% subsidiary LAMDA Estate Development S.A., following the exercise of the repurchase option upon the expiration of the financial lease with Hellas Capital Leasing S.A.

The residual value paid on the signing date of the transfer contract for the abovementioned premises, amounts to €3.872 mil., according to the relevant term of the financial lease.

It should be noted that the exercise of the repurchase option following the expiration of the financial lease, does not affect the total value of the investment portfolio, since the fair value of subject property has already been included in the portfolio.