Issue of new series F bonds

16 September 2014

MirLand Development Corporation plc

("MirLand" or the "Company")

Issue of New Series F Bonds

Further to the announcement made on 12 September 2014, MirLand, one of Russia's leading residential and commercial property developers, confirms that it has successfully issued new series F bonds (the "Bonds") in the total amount of NIS 144,389,000 (approximately USD 39.7 million). Midroog, a subsidiary of Moody's Investor Services the credit rating agency, has rated the bonds as "ilBaa1/Stable" and they bear interest at 5.50%.

The proceeds from the issue of the Bonds will be used for MirLand's general corporate purposes and repayment of existing debt.

For further information, please visit www.mirland-development.com, or contact: