Announcement for the sale of treasury shares

LAMDA Development S.A. notifies that, pursuant to its Board of Directors resolution dated 2/9/2009, intends to sell between 3/9/2009 and 18/9/2009 via Athens Exchange, 22.028 treasury shares, representing 0.05% of the Company's paid up Share Capital, at a minimum sale price equal to the nominal price of each Company share, i.e. euro 0,30 per share.

The sale of the said treasury common shares is mandated in view of the impending completion of the statutory three- year period commencing from the date they were acquired by the Company, as provided by Codified Law 2190/20 (Article 16 para.5 et seq.) prior to its amendment by law 3604/2007.