1. ANNOUNCEMENT FOR THE SALE OF SHARE AT GI & KATASKEVI COMPANY LAMDA Development S.A. announces the transfer on 29/12/2005 of the total percentage 51% of the share capital, that its subsidiary company LAMDA Estate Development held since 2001 in GI & KATASKEVI company. GI & KATASKEVI company was the developer of the residential holiday complex at Xylokastro area, Korinth, where apartment sales reached 55% of the total available units from the commencement of the development till the end of 2005. The buyer of the shares sold for a total price of 1,224 thousand is the family of the minority shareholders. The sale of these shares will not affect Group's financial results.
2. ANNOUNCEMENT FOR THE SALE OF KRIONERI REAL ESTATE PROPERTY LAMDA Development S.A. announces the sale on 29/12/2005 of the industrial real estate property (storage spaces) held since 2001 in Krioneri area, Attica, for a total price of euro 2,300 thousand. The buyer company is Notos Com Holding A.E.B.E., which was the tenant of the property. This sale will improve of Company?s financial results by the sum of euro 350 thousand.

Both above-mentioned disposals are within the general frame of the Company's strategy for rationalization of the real properties portfolio and focusing of its activities in the development and management of large-scale investments, especially in commercial real estate property.