LAMDA Development Consolidates its Growth Prospects

Prospectus for LAMDA Capital Increase
Approved by the Athens Stock Exchange Board

LAMDA Development further fortified its market position when the Board of the Athens Stock Exchange approved the Prospectus for an increase of its capital. The company will increase its stock by a total of 725,125,000 GRD (€ 2,128,026) by issuing 7,251,250 new common registered shares with nominal value 100 GRD and acquisition value 5,500 GRD each.

The company is offering to its present stockholders 7,245,000 new shares at the rate of one new share for each one already held.

Another 6,250 shares will be offered to selected executives and company staff at the above price.

The company stock will trade in the Athens Stock Exchange starting on Monday 15 May 2000, without an option on the present increase. The time allowance for exercising an option on the increase is set from Friday 19 May 2000 until Monday 19 June 2000.
The underwriter of this offering is EFG Eurobank. Option shares will be issued during working days and hours at all branches of EFG Eurobank.

The overall revenue from the stock increase will be used to finance the company’s investment plan for years 2000 and 2001, which includes the acquisition of companies or the participation in companies in the real estate business, some already carried out by LAMDA.

LAMDA has acquired the entire stock of real estate companies DIMIOURGIA SA and OLYMPIA SA, 75% of the ship building and repair yard HEPHAESTUS HELLAS SHIPBUILDING SA, and has also agreed to buy a 29.9% participation in the real estate investment company EFG Properties, whose other stockholders include the Deutsche Bank.

LAMDA is also in the process of buying stock in Swissport Hellas, whose other stockholders include Swissair. Swissport Hellas will operate in the Hellenikon airport and in the new Spata airport, offering ground handling services.
LAMDA Development – a limited investment and real estate development company, together with its specialized subsidiaries and the companies where it is a major stockholder, is the first company offering a full range of services in investment, development and real estate management.