UPDATE RE MANDATORY REPAYMENT TO BONDHOLDERS

14 December 2017

PLAZA CENTERS N.V.

UPDATE REGARDING MANDATORY REPAYMENT TO BONDHOLDERS

Plaza Centers N.V. ("Plaza" or the "Company"), further to its announcements of September 26, 2017 and 4 October 2017, announces that the Israeli court has instructed that the mandatory repayment amounts due to the Israeli series A and series B bondholders should be allocated according to the ratios set out in the Company's restructuring plan. The court has also acknowledged that Plaza is not an interested party in this bondholder dispute and has granted the Company a protective order from any claims in this respect.

Ends

For further details, please contact:

Plaza

Dori Keren, CEO +48 22 231 99 00

FTI Consulting

Dido Laurimore / Claire Turvey / Tom Gough +44 20 3727 1000

Notes to Editors

Plaza Centers N.V. (www.plazacenters.com) is an emerging markets developer of shopping and entertainment centres. The Company 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. Plaza Centers N.V. is an indirect subsidiary of Elbit Imaging Ltd. ("EI"), an Israeli public company whose shares are traded on both the Tel Aviv Stock Exchange in Israel and on the NASDAQ Global Market in the United States. Plaza Centers has been active in real estate development in emerging markets for over 21 years.