Acquisition of Own Shares

CORPORATE TRANSACTIONS
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In accordance with Regulation of the Committee of European Community no 2273/2003, article 4, par.4, LAMDA Development S.A. (“the Company”) announces that following the decision of the Annual General Meeting of the Shareholders of the Company dated May 24, 2007 and the Board of Directors’ resolution dated August 2, 2007 purchased own shares through the Athens Exchange Member National Securities, as follows:

On April 30, 2008 the Company purchased 8.375 shares, with average cost price € 10,08 per share and total purchase price € 84.419,00

On May 2, 2008 the Company purchased 778 shares, with average cost price € 10,18 per share and total purchase price € 7.920,04

On May 5, 2008 the Company purchased 8.500 shares, with average cost price € 9,99 per share and total purchase price € 84.952,00

On May 6, 2008 the Company purchased 9.000 shares, with average cost price € 10,03 per share and total purchase price € 90.260,00

On May 7, 2008 the Company purchased 9.000 shares, with average cost price € 10,03 per share and total purchase price € 90.310,00

In accordance with Regulation of the Committee of European Community no 2273/2003, article 4, par.4, LAMDA Development S.A. (“the Company”) announces