Result of AGM and Board Changes

16 May 2016

MirLand Development Corporation plc

("MirLand" or the "Company")

Result of AGM and Board Changes

MirLand announces that, at the Annual General Meeting of the Company held earlier today, resolution 6 approving the re-election of the Company's chairman, Nigel Wright, as a director of the Company was withdrawn at the request of Mr Wright, for personal reasons. Accordingly, Mr Wright has stepped down as a director of the Company with effect from the close of the Annual General Meeting. The Board of Directors of the Company would like to take this opportunity to thank Mr Wright for the significant contribution he has made to the Company since its IPO in 2006 and wish him very well for the future.

Following this change and with immediate effect, Saydam Salaheddin has been appointed Chairman of the Board of Directors and Elias Eliades has been appointed a member of the Audit Committee. Both Mr Salaheddin and Mr Eliades are existing Independent Non-executive Directors of the Company.

MirLand further announces that resolution 3 approving the re-election of Eliezer Fishman as a director of the Company was also withdrawn. Accordingly, Mr Fishman has also stepped down as a director of the Company with effect from the close of the Annual General Meeting.

All of the other resolutions set out in the Company's Notice of Annual General Meeting dated 18 April 2016 were duly passed.

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