PLAZA CENTERS N.V. DEBT RESTRUCTURING PROCESS - UPDATE

Further to recent updates regarding Plaza's filing and voting in the Dutch restructuring proceedings, Plaza has today made available on its website the full list of creditors that its administrator, Adv. J.L.M. Groenewegen, has filed with the Dutch Court.

A copy of the list is available to view on Plaza's website at:

http://www.plazacenters.com/index.php?p=debt_restructuring.

For further details, please contact:

Plaza

Ran Shtarkman, President and CEO +36 1 462 7221

Roy Linden, CFO +36 1 462 7222

FTI Consulting

Stephanie Highett / Nina Legge +44 20 3727 1000

Notes to Editors

Plaza Centers N.V. (www.plazacenters.com) is a leading emerging markets developer of shopping and entertainment centres with operations in Central and Eastern Europe and India. 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. ("EI"), 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. It has been active in real estate development in emerging markets for over 18 years.

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