PLAZA CENTERS N.V. PLAZA RECEIVES HIGH LEVEL OF SUPPORT FOR DEBT RESTRUCTURING PLAN

Plaza today announces that its amended Dutch restructuring plan (the "Plan"), filed with the Dutch Court on 27 May 2014, has been approved with 92% of creditors voting in favour of the Plan.

Having received the consent of substantially in excess of the required ordinary majority (50% + 1) of creditors, the Dutch Court has scheduled a hearing to confirm the Plan on 8 July 2014.

The initial debt restructuring plan was submitted to the Dutch Court on 18 November 2013 by the Company to secure the long-term viability and growth of the business and to enable the Company to preserve value for its creditors by giving it time to resolve its liquidity situation.

In approving the Plan today and so voting in favour of deferring the principal maturities for at least 3.5 years, bondholders will receive significantly improved terms, including additional interest of 1.5% p.a; 13.21% of the shares in the Company post its proposed rights issuance as detailed below; certain covenants on operations; and an option for early repayments when any assets may be sold.

In addition, approval of the Plan supports the Company's proposed rights offering of shares to its existing shareholders to raise an aggregate amount of EUR 20 million in order to further strengthen the Company's equity position. Plaza's shares will also be admitted to trading on the Tel Aviv Stock Exchange following such rights issuance.

Ran Shtarkman, President and Chief Executive Officer of Plaza Centers N.V., said:

"We are extremely pleased with the overwhelming support that we have received from creditors for our restructuring plan. Their approval clearly demonstrates the confidence that our bondholders and other creditors have in the underlying fundamentals of our business and the potential for a return to growth. Clearly such significant support represents the fairness of the plan we have proposed.

"We would like to thank the bondholders' trustees, institutional investors and other creditors for a smooth, transparent and fruitful dialogue which has supported the Plan and enabled us to secure its approval in little over seven months. We also thank our equity shareholders for supporting the Plan and the Company by committing to contribute to our proposed capital increase. Following the rights issuance, Plaza's shares will also be listed on the Tel Aviv Stock Exchange, which we believe may contribute to an increase in the trading volume of our shares, the diversification of our investor base and enhanced potential for securing diversified sources of financing in the future.

"The successful conclusion of the restructuring process remains a key priority for management and, whilst we have reached today's positive voting results smoothly, we will continue to work hard to conclude this process as quickly as possible to ensure we are best positioned to return to delivering value to our investors."

As previously announced, a prospectus detailing the proposed amendments to the terms of the Israeli Series A and Series B bonds, as well as other provisions applicable to the holders of such Series A and Series B bonds, is available to view on the Company's website:

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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