Invitation to the Annual Genaral Meeting of the Shareholders

According to the Codified Law 2190/1920 «Regarding Societes Anonymes», as currently in force, and article 21 of the Articles of Incorporation, the Board of Directors of the Societe Anonyme under the trade name “LAMDA DEVELOPMENT – HOLDING AND REAL ESTATE DEVELOPMENT SOCIETE ANONYME” invites the Shareholders of the Company to the Annual General Meeting on Thursday, May 20th, 2010, at 13:00’ hours at the hotel “Athens Plaza” (Syntagma Square), in order to discuss and resolve upon the following items of the Agenda:

AGENDA:

1. Approval of the annual Financial Statements for the fiscal year starting on January 1st, 2009 and ending December 31st, 2009, along with the Board of Directors’ Report and the Auditors’ Report.

2. Release of the Members of the Board of Directors and of the Auditors from any responsibility for the fiscal year 2009.

3. Election of Auditors for the fiscal year starting on January 1st, 2010 and ending December 31st, 2010 and determination of their remuneration.

4. Ratification of the election of members of the Board of Directors in replacement of resigned members and appointment of independent members of the Board of Directors.

5. Approval of contracts and remunerations of Members of the Board of Directors according to articles 23a and 24 of Codified Law 2190/1920.

6. Harmonisation of Articles of Incorporation pursuant to Law 3604/2007 and amendment of articles 1 - 4 and 6 - 35.

7. Amendment of the Stock Options’ Plan which was initially approved by the Company’s General Meeting, dated June 23rd, 2006, pursuant to article 13 of Codified Law 2190/1920, as in force.

8. Other items and announcements.

The Shareholders who wish to participate and vote in the Ordinary General Meeting, in person or by proxy, should block the total or part of their shares through their Operator in the Dematerialized Securities System (D.S.S.) or the Hellenic Exchanges S.A., if the shares are registered in the special account, and submit the relevant Certificate of the Blocking of Shares along with the representation documents, five (5) days prior to the General Meeting, to the Company (37A, Kifissias Av. Maroussi 151 23, tel.: 210 7450600, fax: 210 7450645) or to the Shareholders’ and Investors’ Subdirectorate of Bank EFG Eurobank Ergasias S.A. (Iolkou 8 & Filikis Etairias, N. Ionia, 142 34, tel.: 210 3523300, fax: 210 3523600).

The Board of Directors,

Maroussi, April 20th, 2010