Completion of transfer HSBC - The Mall Athens

LAMDA Development announces today 7/11/2006, the completion of the transfer of 50% of its participation in the commercial and leisure center The Mall Athens, which is owned by its subsidiary LAMDA Olympia Village S.A, to HSBC LUXEMBOURG SARL .

Specifically, HSBC LUXEMBOURG SARL acquired 13,006,105 shares of LAMDA Olympia Village S.A., which represent 49.239% of the company’s share capital.

Regarding the financial elements of the transaction, we refer to the company’s announcement of the 14/7/2006.