Announcement of significant developments

LAMDA Development S.A. (the Company) announces, in accordance with the provisions of Law 3340/2005 and Decision 3/347/12.7.2005 of the Capital Market Commission, that following the decision of its Board of Directors on 19.11.2015, based on the provisions of Codified Law 2190/1920 and Law 3156/2003, it proceeded on 26 November 2015 with the issuance of a Secured Common Bond Loan Programme up to the amount of €164,700,000 and with a duration of three years together with entering into an Agreement for the Appointment of a Paying Agent and Bondholder Representative (the “Bond Loan”). The Bond Loan is divided into 164,700,000 Bonds, with nominal value and issue price of each Bond equal to one Euro, subscribed at par. The Bond Loan was subscribed in its entirety by the arranging Banks, ALPHA BANK S.A., PIRAEUS BANK S.A., EUROBANK ERGASIAS S.A., and its purpose is to refinance the existing debt obligations of the Issuer to the above banks, and secondarily, to cover permanent working capital needs of the Issuer.