LAMDA Development S.A. (the Company) in accordance with the provisions of Laws 3556/2007 and 3340/2005, as well as the Decision 1/434/3.7.2007 of the Hellenic Capital Market Commission, announces that EFG Consolidated Holdings S.A. (due to sale), transferred to Consolidated Lamda Holdings S.A., 65.563 registered common shares with total amount of euro 225.063,09 via “delivery versus payment” method, with settlement date at DSS the 9.12.2010.

EFG Consolidated Holdings S.A. is pursuant to the provisions of Law 3340/2005 a related legal entity with Messrs. F. Antonatos and E.L.Bussetil who are non executive members of the Company’s Board of Directors.

Consolidated Lamda Holdings S.A. is also a related entity with Mr. P. Kalantzis, Chairman – non executive member of the Company’s Board of Directors and Messrs. F. Antonatos, E.L. Bussetil, who are also non executive members of the Company’s Board of Directors.

Furthermore, it is stated that the Company’s announcement on 2.12.2010, where the above mentioned Consolidated Lamda Holdings S.A. purchased 62.000 registered common shares on 30.11.2010, it is not accurate and is attributed to an oversight.