UPDATE REGARDING THE MOTION

February 17, 2020

PLAZA CENTERS N.V.

UPDATE REGARDING THE MOTION TO REVEAL AND REVIEW INTERNAL DOCUMENTS

Plaza Centers N.V. ("Plaza" or the "Company") announces today, further to its announcement dated March 29, 2018, and further to the disclosure in note 8g. of the Company's semi-annual financial statements 2019, that on February 16, 2020, the District Court in Tel-Aviv, Israel, decided that since there is no dispute between the parties that the motion was answered as the shareholder received some of the documents requested by him, and he is not about to receive additional documents; that the motion will be closed without an order for expenses. The shareholder and the Company are free to act as they deem appropriate with regard to the possibility of filing a claim in the future based on the grounds of claim stated by the shareholder in his motion, in whole or in part.

Ends

For further details, please contact:

Plaza

Ran Yaacovs, CFO 972-546-303-006

Notes to Editors

Plaza Centers N.V. (www.plazacenters.com) 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.

[1] In March 2018, a shareholder of the Company filed a motion with the Financial Department of the District Court in Tel-Aviv to reveal and review internal documents of the Company and of Elbit Imaging Ltd., with respect to events surrounding certain agreements executed in connection with the Casa Radio Project in Romania and the sale of the U.S. commercial centers. The parties reached a procedural agreement whereby, the Company and Elbit Imaging Ltd. will share with the shareholder, under their sole discretion, some of the documents from the documents requested