LAMDA Development announces the substitution of the "Hatzikyriakeio" to Zara Hellas S.A.

Wednesday, April 21, 2004


LAMDA Development S. A. announces the substitution of the “Hatzikyriakeio” to Zara Hellas S.A.

LAMDA Development announced the completion of the substitution of the 4K Company (25% participation by LAMDA Estate Development) with Zara Hellas S.A., in the Concession Contract between 4K Company and Hatzikyriakeio Foundation for the listed building of the Foundation, located in the centre of Athens.

The agreement has transpired within the framework of good relations that have been previously developed between LAMDA Development and Zara, as the two companies are working closely with one another on major investments in the sector of commercial and leisure centres, such as the Mediterranean Cosmos Centre in Pylea, Thessaloniki.

The Hatzikyriakeio listed building is located in the centre of Athens, at the intersection between Stadiou and Koraes streets. The 4K Company had undertaken the renovation and conversion of the Hatzikyriakeio into a modern building complex with retail and office space, covering a total surface area of 4,000 m2.

LAMDA Development is continuing steadily toward the implementation of the company’s €700 million investment programme, which includes a sizeable portfolio amounting to 500,000 m2 of buildable surface area both in Greece and abroad.

LAMDA Development

LAMDA Development S.A., listed on the main market of the Athens Stock Exchange, is a holding company investing in the development of land, sea and air infrastructure. Combining a strong entrepreneurial drive, specialist international expertise, expert management, powerful strategic allies (Deutsche Bank, EFG Bank Group, Hochtief, Bilfinger Berger, Strabag, Swissport International, Sonae Imobiliaria) and with the business credibility and financial strength of the Latsis Group, LAMDA Development shapes and connects the business areas it is active in, creating growth, reaping synergies and providing value to both its clients and shareholders.

The LAMDA Development group of companies offers its clients integrated business solutions and high quality services and products at competitive prices. Its focus on complementary infrastructure sectors extends to real estate, marinas and yacht maintenance and refurbishment as well as airport services. At the forefront of exploiting numerous opportunities arising from regional developments, such as industry deregulation, Greece’s entry into the Euro Zone with the adoption of the Euro, and the preparation for the Athens 2004 Olympic Games, the LAMDA Development group of companies is leveraging its presence in Greece and neighbouring countries to play a leading role in the modernization and development of Southeastern Europe.

For more information, please contact CIVITAS:

Nectaria Metrakou: +30 210 6835404; [email protected]