Reply to Hellenic Capital Market Commission Letter

 Upon relevant question raised by the Hellenic Capital Market Commission, the société anonyme under the corporate name “LAMDA Development Holding and Real Estate Development Société Anonyme” and under the distinctive title “LAMDA DEVELOPMENT S.A.”, seated at Kifissias 37Α Ave., Maroussi, with Hellenic Business Registry (ΓΕΜΗ) No. 003379701000 (the “Company”) makes the following announcement following recent press publications about the acquisition of real estate properties from National Bank.
It is hereby confirmed that the signing of a Memorandum of Understanding has been concluded, by virtue of which “National Bank of Greece S.A.” expresses their intention to contribute and lawfully participate in the process of issuance of a presidential decree for the approval of the City Building Plan of the area where the mall under the trade name “The Mall Athens” is situated, under the condition of receiving payment of the amount of EUR 11,000,000, which corresponds to the reasonable price of their real estate properties (situated in the said above area) and to their total claim due out of the sale and purchase contract with Municipality of Amaroussion subsidiary company (ΑΘΜΟΝΟ S.A.). The Company and «LAMDA OLYMPIA VILLAGE SMSA» undertake to pay the said amount of EUR 11,000,000 with a binding effect, jointly and in common, upon the conclusion of the final agreement.
The Company will, in accordance with the law, promptly make the necessary announcements as soon as the final agreement is completed.