Acquisition

Plaza Centers N.V.
18 February 2008



18 February 2008



              PLAZA CENTERS ACQUIRES ITS SIXTH PROJECT IN ROMANIA



Plaza Centers N.V. ('Plaza' or the 'Company'), a leading emerging markets
property developer, today announces that it has acquired a site in Honedoara,
Romania.

The 41,000 sqm site, near to Honedoara city centre, will be developed into a
modern, western style shopping and entertainment centre, with a built area of
28,000 sqm, and 20,000 sqm of lettable space. It is ideally located alongside
the main road to the city centre, and has a large catchment area of 500,000
people in the region.

The development project is expected to cost approximately EUR 37 million.
Construction is expected to start in mid 2008 with a completion target of Q1
2010.

This acquisition represents Plaza's sixth development scheme in Romania since it
acquired its first project in November 2006. The Company's other schemes in
Romania include its developments at Slatina, Iasi, Timisoara, Miercurea Ciuc
and, most significantly, its landmark Casa Radio scheme in the heart of
Bucharest, which comprises more than 500,000 sqm of built area including
shopping, leisure, office and conference facilities. In total, Plaza is now in
the process of developing over 700,000 sqm of retail and leisure space across
the country, with anticipated completion dates ranging from 2008 to 2012.



Commenting on the deal, Ran Shtarkman, CEO, Plaza Centers N.V. said:


'Honedoara, with a population of 80,000 people, is an expanding city which is
benefiting from a significant level of new investment. We see this project as an
opportunity to offer a unique shopping and entertainment experience for people
in the region, who previously have not had access to such high quality
facilities. We believe that we can attract some major local and international
brands to the area, with demand for prime retail sites strong across all parts
of Romania.

'Plaza has a proven ability to create significant value for shareholders from
this type of development project, by offering a unique product on time and
within budget. We continue to look for further opportunities in Romania and
across the rest of our target market.'



                                      Ends



For further details please contact:


Plaza                        
Ran Shtarkman                                                    [phone]
Roy Linden                                                       [phone]

Financial Dynamics
Stephanie Highett/Laurence Jones                               [phone]





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 12 years.






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