By implementation of the provisions of article 16 par. 5 of L. 2190/1920, P.D. 14/1193 and article 290 par. 1 and 2 of the Athens Exchange regulation, LAMDA Development S.A. announces that the as at 24/05/2007 Annual General Meeting of the Shareholders approved the purchase of own shares according to the following terms:
1. Maximum number of shares to be purchased: 4.380.967 shares (that is 10% of shares outstanding including the purchased 22.028 shares).
2. Maximum purchase price: 18 euro/ share.
3. Minimum purchase price: 2 euro/ share.
4. Transaction period during which the Company will conduct the purchase: 12 months, from the 25th May, 2007 until the 24th May, 2008.