Invitation to the Annual General Meeting of the Shareholders

GENERAL MEETINGS
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“LAMDA DEVELOPMENT S.A. – HOLDING AND REAL ESTATE DEVELOPMENT COMPANY”

Co Reg. No 3039/06/Β/86/28

I N V I T A T I O N

TO THE ANNUAL GENERAL MEETING OF THE SHAREHOLDERS

In accordance with the Companies Law 2190/1920 “Re: Societes Anonymes” and article 21 of the Articles of Association, the Board of Directors of the company “LAMDA DEVELOPMENT S.A. – HOLDING AND REAL ESTATE DEVELOPMENT COMPANY” invites the Shareholders to the Annual General Meeting, on Thursday, 24 May 2007, at 13.00 a.m. in Athens, at the Hotel “Athens Hilton”, Vas. Sofias 46, in order to discuss and decide upon the following items of the Agenda:

AGENDA

1. Approval of the Financial Statements of the fiscal year starting on January 1st, 2006 and ending December 31st, 2006, including the suggested profit distribution along with the Board of Director’s Report, the Report in accordance to article 11a of Law 3371/2005 and the Auditor’s Report.

2. Release of the Board of Directors and the Auditors from all actions for the fiscal year starting on January 1st, 2006 and ending December 31st, 2006.

3. Election of Auditors for the fiscal year starting January 1st, 2007 and ending December 31st, 2007 and determination of their fee.

4. Election of new Board of Direction and designation of the Board’s independent members.

5. Approval of the Board of Directors’ fees and agreements in accordance with articles 23a and 24 of Companies Law 2190/1920.

6. Purchase of company’s own shares in accordance with article 16 par. 5 of Companies Law 2190/1920.

7. Various announcements.

According to the law and the articles of association, the Shareholders willing to participate and vote in the 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 Central Security Depositor (now Hellenic Exchanges Holding 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 Investors Relation Service of the Company, Iolkou 8 & Filikis Etairias, 14234 N. Ionia, tel. 210-3523300, fax. 210-3323600.

The Board of Directors,

April 26, 2007