UPDATE ON THE DISPOSAL OF TORUN PLAZA IN POLAND

30 August 2017

PLAZA CENTERS N.V.

UPDATE ON THE DISPOSAL OF TORUŃ PLAZA IN POLAND

Plaza Centers N.V. ("Plaza" or the "Company"), an emerging markets property developer, announces that further to its announcement dated 21 June 2017 regarding the sale of Toruń Plaza shopping centre in Poland, the completion of the transaction has been postponed and is now expected to conclude in the fourth quarter of this year.

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.