Comments on Publications

With regard to publications concerning THE MALL ATHENS and the recent judgment of the Council of State - the official text of which has not been received until today - LAMDA DEVELOPMENT S.A. (the “Company”), would like to declare the following:

1. It is known that on the 5th of April 2013 the application (filled by residents and social groups of the Maroussi Municipality) for the annulment of Law 3207/2003 was judged before the Full Session of the Council of State. The said law regulated issues of Olympic Hospitality, among which was the construction of the MEDIA VILLAGE, part of was THE MALL ATHENS. Detailed information with regard to all legal issues has always been available in the Company site.

2. The application for annulment was against the Law. It was neither against the Company nor THE MALL ATHENS. The Company implemented this investment in full compliance with all conditions set by the Law, through its subsidiary company L.O.V. S.A.

3. The Company, having absolute respect in the laws of the Hellenic Republic and the judgments of the Courts, will study thoroughly the judgment of the Council of State and will follow precisely the indicated therein procedure,. This procedure shall obviously replace the provided in Law 3207/2003 procedure, the provisions of which have been applied until today in whole.