PLAZA COMPLETES THE SALE OF DAVID HOUSE, BUDAPEST

21 February 2017

PLAZA CENTERS N.V.

PLAZA CENTERS COMPLETES THE SALE OF DAVID HOUSE, BUDAPEST

Plaza Centers N.V. ("Plaza" or the "Company"), an emerging markets property developer, announces that one of its wholly owned subsidiaries has concluded the sale of David House, a 2,297 sqm office building in Budapest, Hungary for circa € 3.2 million.

Of the net proceeds, at least 75% will be distributed to the Company's bondholders on or before 31 March 2017, in line with the Company's stated amended Restructuring Plan.

Ends

For further details, please contact:

Plaza

Dori Keren, CEO +48 22 231 99 00

FTI Consulting

Dido Laurimore / Claire Turvey / Tom Gough +44 20 3727 1000

Notes to Editors

Plaza Centers N.V. (www.plazacenters.com) is an emerging markets developer of shopping and entertainment centres. It focuses 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 listed on the Main Board of the London Stock Exchange, as of 19 October 2007, on the Warsaw Stock Exchange (LSE: "PLAZ", WSE: "PLZ/PLAZACNTR") and, on the Tel Aviv Stock Exchange. Plaza Centers N.V. is an indirect subsidiary of Elbit Imaging Ltd. ("EI"), an Israeli public company whose shares are traded on both the Tel Aviv Stock Exchange in Israel and on the NASDAQ Global Market in the United States. Plaza Centers has been active in real estate development in emerging markets for over 21 years.