PLAZ Plaza Centers N.v.

RNS Number:6123Y
Plaza Centers N.V.
19 June 2007

19th June 2007


              PLAZA CENTERS ANNOUNCES FURTHER TRANSACTION IN INDIA

Plaza Centers N.V. ("Plaza" or the "Company"), a leading emerging markets
property developer, today announces that, in a 50%:50% joint venture with a
leading Indian property developer, it has acquired a plot of land with an area
of approximately 10.78 acres (approximately 43,600 sq m), situated in
Trivandrum, the capital city of the State of Kerala, India.

The total cost of the land (including acquisition costs) amounted to
approximately 1,060 million Rupees (approximately #13.4 million).

Plaza and its partner intend to use the plot to develop a project totalling
approximately 2.1 million sq ft (195,000 sq m), which is currently intended to
comprise:

      * A shopping and entertainment centre with a total area of approximately
        720,000 sq ft (approximately 67,000 sq m);
      * An office complex with a total area approximately 970,000 sq ft
        (approximately 90,500 sq m);
      * A hotel and apartment hotel with a total area of approximately 400,000
        sq ft (approximately 37,500 sq m).

This acquisition follows the announcement on 26 February 2007 that Plaza had
acquired stakes in two joint venture projects in India through two wholly owned
subsidiaries.  The first was a fourteen acre plot of land in the Kharadi
district of Pune, Maharashtra State, India, on which Plaza and its JV partner
intends to build a project totalling 2.4 million sq ft (225,000 sq m) which will
include a shopping centre, office complex and serviced apartment facility.  The
second was a six acre plot of land located in Koregaon Park, an up-market area
of Pune, on which the joint venture plans to construct a mixed-use scheme with a
total area of 1,180,000 sq ft (approximately 107,000 sq m) comprising a shopping
centre and office building.  The total investment in these two projects is
anticipated to be circa $265 million (approximately #136.2 million).



Commenting, Ran Shtarkman, the CEO of Plaza Centers, said:

"This transaction further demonstrates Plaza's ambition to expand its activities
beyond Central and Eastern Europe. Coupled with the acquisition of our first
strategic development projects in India, which was announced earlier this year
in February, today's announcement marks a significant step in advancing Plaza
Centers' presence in India. We look forward to bringing further transactions in
India to fruition for our investors."


                                    - ENDS -

For further details please contact:

Plaza
Mordechay Zisser, Chairman                                      +972 3 608 6000
Ran Shtarkman, President and CEO                                +36 1 462 7221
Roy Linden, CFO                                                 +36 1 462 7105

Financial Dynamics                                              +44 20 7831 3113
Stephanie Highett / Dido Laurimore/ Adam Leviton



Notes to Editors

Plaza Centers N.V. (www.plazacenters.com) is a leading emerging markets
developer of shopping and entertainment centres, focusing on constructing new
centres and, where there is significant redevelopment potential, redeveloping
existing centres, in both capital cities and important regional centres. The
Company is an indirect subsidiary of Elbit Medical Imaging Ltd. ("EMIL"), an
Israeli public company whose shares are traded on both the Tel Aviv Stock
Exchange in Israel and the NASDAQ Global Market in the United States.

Plaza Centers is a member of the Europe Israel Group of companies which is
controlled by its founder, Mr Mordechay Zisser.  It has been present in real
estate development in emerging markets for over 10 years.



                      This information is provided by RNS
            The company news service from the London Stock Exchange
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