Acquisition

Plaza Centers N.V.
07 January 2008

7 January 2007



                   PLAZA CENTERS WINS TENDER FOR DEVELOPMENT

                    OF MAJOR RETAIL AND ENTERTAINMENT SCHEME

                               IN KIELCE, POLAND





Plaza Centers N.V. ('Plaza' or the 'Company'), a leading emerging markets
property developer, today announces that it has won a competitive tender and
acquired a site from PKS Kielce S.A. (the local branch of the Polish National
Bus Company) for the development of a major new shopping and entertainment
centre in Kielce, Poland.



This is the first new project Plaza has secured in Poland since its successful
listing on the Warsaw Stock Exchange in October 2007.  Plaza has been highly
active in CEE and Poland since 1996.  It has built, managed and sold a total of
seven shopping centres located across Poland and is currently poised to start
construction on a further three shopping and entertainment centres located in
Suwalki, Torun and Zgorzelec and a mixed-use project in Lodz. The Company also
continues to seek further investment opportunities in the country.



The new centre will be located on a 30,000 sqm plot alongside a major road and
two kilometres from the heart of Kielce.  Kielce has over 200,000 inhabitants
and an estimated catchment area of approximately 350,000, and is located in
Central Poland on the main motorway linking Warsaw and Krakow.



On completion, the scheme will have a Gross Built Area of 57,000 sqm with 40,000
sqm of Gross Leasable Area, and approximately 1,200 car-parking spaces. Plaza
will be targeting a mixture of domestic and high-profile international retailers
and entertainment operators as potential tenants for the centre.



The project is expected to have a gross development budget of circa. €90
million. Construction is anticipated to commence in the middle of 2009, with
completion targeted for beginning of 2011.



Commenting on the acquisition, Ran Shtarkman, President and CEO of Plaza Centers
N.V., said:



'Kielce is a fast-growing city which currently has only very limited
high-quality retail outlets or entertainment facilities to offer.  We are
delighted to develop this major new scheme which will deliver an exciting modern
commercial and cultural centre for the inhabitants of Kielce and visitors to the
city.


'We believe our skills and experience in developing large-scale developments
should enable us to create significant value, both for our shareholders and for
the centre's tenants and visitors, by attracting a range of high quality
international and domestic tenants and thereby unlocking Kielce's potential as a
retail destination in Central Poland.'





For further details please contact:


Plaza

Mordechay Zisser, Chairman                                [phone]
Ran Shtarkman, President and CEO                          [phone]
Roy Linden, CFO                                           [phone]


Financial Dynamics                                      [phone]
Stephanie Highett/Laurence Jones









Notes to Editors



•         Plaza Centers N.V. (www.plazacenters.com) is a leading 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 dual listed on the Main Board of the London
Stock Exchange and, as of 19 October 2007, the Warsaw Stock Exchange (LSE:'PLAZ
', WSE: 'PLZ/PLAZACNTR'). Plaza Centers N.V.  is an indirect subsidiary of Elbit
Imaging Ltd. ('EIL'), an Israeli public company whose shares are traded on both
the Tel Aviv Stock Exchange in Israel and the NASDAQ Global Market in the United
States.



•         Plaza Centers is a member of the Europe Israel Group of companies
which is controlled by its founder, Mr Mordechay Zisser.  It has been active in
real estate development in emerging markets for over 11 years.








                      This information is provided by RNS
            The company news service from the London Stock Exchange