Answer to HCMC letter

In response to the respective query from the Hellenic Capital Market Commission, «LAMDA DEVELOPMENT S.A.» (hereinafter the "Company") announces to the investing public that In the afternoon of September 9^th 2014, the Company was informed by the HRADF, that the Court of Audit (7th Judicial Unit, 4^th Recess Unit) is temporarily not allowing the signing of the agreement for the sale of 100% of “HELLINIKON S.A.” shares.

The Company was informed by HRADF that it will submit a petition for revocation of this judgment to the competent Judicial Section of the Court of Audit within fifteen days, just as it has done in all similar cases of privatization, so that the existing hindrances will be lifted.

The Company, which had already informed that the pre-contractual audit by the Court of Audit was still pending, will study the judgment thoroughly, reserving all its rights and will act in accordance with the law, while duly informing the investing public.