UPDATE ON MANDATORY REPAYMENT TO THE BONDHOLDERS

4 October 2017

PLAZA CENTERS N.V.

UPDATE REGARDING MANDATORY REPAYMENT TO THE BONDHOLDERS

Plaza Centers N.V. ("Plaza" or the "Company") announces that, further to its announcement on September 26, 2017, the Company has received the consent of the trustees of its Israeli series A bonds and series B bonds for the allocation of certain funds received by the Company between the Company's series A bonds and series B bonds due for repayment of such bonds as detailed in the announcement dated September 26, 2017. The Company further advises that it has filed an application with the Israeli court to receive instructions as to the allocation of the remainder funds between the Israeli series A and series B bondholders and that a hearing has been scheduled to October 25, 2017.

Accordingly, the Company will shortly publish a report that will detail the specific amounts to be repaid and the dates for such repayment.

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. 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.