Debut in Serbia

Plaza Centers N.V.
28 August 2007


28 August 2007


                      PLAZA CENTERS MAKES DEBUT IN SERBIA


Plaza Centers N.V. ('Plaza' or the 'Company'), a leading Central and Eastern
European emerging markets property developer, today announces that it has won a
competitive tender from the Government of Serbia for the development of a new
shopping, entertainment and business centre on a total built up area of circa.
100,000sqm (with over 2000 parking spaces) in Belgrade, Serbia.  This project
represents Plaza's first step into the Serbian market and fulfils one of the
Company's expansion objectives set out in its Prospectus.


The new complex will be located on the prominent site of the former Federal
Ministry of Internal Affairs, situated on the main street which runs through the
centre of Belgrade.  The area is home to foreign embassies, including those of
the United States, Canada, Germany, Poland among others. In addition the Serbian
Government, Ministry of Finance, Belgrade chamber of commerce and Belgrade's
largest public hospital are all nearby, as well as the city fair and the future
railway station.


Plaza will partner local Serbian developer for the project, which is expected to
have a gross development budget of €150 million. The local partner will be
entitled to participate in up to 15% of the project, subject to certain
conditions while the project management will be rendered solely by Plaza.


Serbia is one of the Eastern European nations where Plaza sees strong potential
for future investment opportunities.  Plaza also believes that the Belgrade
market offers particular potential, with its large populated catchment area of
approximately 2.5 million people.  Additionally, as Belgrade has not to date
benefited from 'institutional grade' investment in retail or commercial real
estate, this development will have particular significance in terms of providing
a new commercial and cultural destination for both domestic and international
visitors.


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


'We are very excited to be taking our first steps into the Serbian market, where
we believe our skills and experience in delivering large-scale mixed-use
developments can produce significant value, both for our shareholders and for
the centre's tenants and visitors.


'In addition, we look forward to playing a part in the delivery of a new
commercial and cultural centre for Belgrade, which we hope will attract a range
of high quality international and domestic tenants and thereby unlock the
considerable potential we see within the Serbian market.'


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/Lauren Mills


Notes to Editors


•   Plaza Centers N.V. (www.plazacenters.com) is a leading emerging
markets developer of shopping and entertainment centres, focusing 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 an indirect subsidiary of Elbit Medical Imaging
Ltd. ('EMIL'), 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