Issue of New Series E Bonds

30 July 2013

MirLand Development Corporation plc

("MirLand" or the "Company")

Issue of New Series E Bonds

Further to the announcements on 23 July 2013 and 25 July 2013, MirLand, one of Russia's leading residential and commercial property developers, confirms that it has successfully issued new series E bonds (the "Bonds") in the total amount of NIS 240 million (approximately USD 67.2 million). Midroog, a subsidiary of Moody's Investor Services the credit rating agency, has rated the bonds as "ilBaa1/Stable" and they bear interest at 7.21%.

The proceeds from the issue of the Bonds will be used for MirLand's general working capital purposes.

For further information, please visit www.mirland-development.com, or contact: