New Board of Directors Composition

LAMDA Development S.A. announces that the Chairman, Mr. George Papageorgiou executive member of the Board of Directors, has resigned. The Board of Directors at its meeting on 17/3/2010 proceeded to the election of Mr. Ulysses Kyriacopoulos, to serve for the remaining of the service of the BoD and was composed as a body, as follows:

- Peter Kalantzis, Chairman, non executive member

- Evangelos Chronis, Vice Chairman, non executive member

- Odysseas Athanasiou, Chief Executive Officer, executive member

- Fotios Antonatos, non executive member

- Emmanuel Leonard Bussetil, non executive member

- George Gerardos, independent non executive member

- Theodora Zervou, non executive member

- Spiridon Theodoropoulos, independent non executive member

- Ulysses Kyriacopoulos, independent non executive member

- Achilleas Konstantakopoulos, independent non executive member

- Dimitrios Papalexopoulos, independent non executive member

The election of the new member of the Board of Directors will be submitted for approval to the next General Meeting of the Shareholders.