DOCUMENT OF INFORMATION UNDER LAW 3401/17-10-2005, ARTICLE 4, PAR. 2 (f) LAMDA Development S.A. (herein the Company or LAMDA Development) in the framework of the implementation of the approved by the Annual General Meetings of the Shareholders of the years 2002 and 2003 Stock Option Plans (the Plans) and according to article 4, paragraph 2 (f) of the L.3401/17-10-2005, and further to the December 19th , 2005 announcement, informs the public of the following:

1. In the framework of the implementation of the Plans, as described in the December 19th, 2006 announcement, the beneficiaries of Stock Option Rights for the acquisition of the Company's shares exercised their stock option rights granted by the Company within December 2005.

2. Within December 2005, 38 beneficiaries - Members of the Board of Directors, executives of the Company and its subsidiaries - exercised their option rights for a total of 244.100 new common registered shares of a nominal value of 0,30 euro each, as follows:
- 5 beneficiaries from 38, at issue price 1,80 euro per share for 40.600 new common registered shares (relating to stock option plans granted in December 2002, following decision of the June 7th, 2002 General Meeting of the Shareholders). Since this plan, expired on the 30th December, 2005, no further stock option rights remain to be exercised.
- 37 beneficiaries from 38, at issue price 2,00 euro per share for 203.500 new common registered shares (relating to stock option plans granted on April 2004, following decision of the June 19th, 2003 General Meeting of the Shareholders). Since this plan, expires on the 30th December, 2006, stock option rights for 46.500 shares could be still exercised.

4. Following the exercise of the stock option rights from the beneficiaries and the timely payment of the increase amount, the Board of Directors met on the December 30th, 2005 and resolved on the share capital increase for the amount of 73.230 euro, without amending its Articles of Association according to article 13 par.9 of C.L.2190/1920.

5. Following the aforementioned increase, the fully paid share capital of the Company amounts to 13.208.985 euro, divided into 44.029.950 common registered shares of a nominal value of 0,30 euro each.

6. In the framework of the implementation of the approved by the General Meetings of the Shareholders of the years 2001, 2002 and 2003 Stock Option Plans, rights relating to 541.200 common registered shares of a nominal value of 0,30 each have been exercised.

The compilation of the present document, as well as the accuracy of the data contained herein is the responsibility of:
1. Lambros G. Anagnostopoulos, Chief Executive Officer, Laodikeias 16, Athens, tel. 210 - 7450600
2. Antonios K. Kaffas, Chief Financial Officer, Laodikeias 16, Athens, tel. 210 - 7450600

Copies of the present document are available at the Company's registered office in Athens, Laodikeias 16, Athens, 11528 and on the web site of the Company www.lamda-development.net.

Anybody interested in further information may communicate during working hours at the Company's registered office in Athens, tel. 210 - 7450600, contact person Mrs. Papakonstantinou Mary.