PLAZA CENTERS N.V. DUTCH COURT APPROVES DEBT RESTRUCTURING PLAN

Plaza announces that today, following the confirmation hearing held on 8 July 2014, the Dutch Court has confirmed the Dutch restructuring plan (the "Plan"). This follows the Company receiving approval from 92% of creditors voting in favour of the Plan.

As previously announced, approval of the Plan defers the principal maturities of the Company's Series A and Series B bonds for at least 3.5 years and provides bondholders with significantly improved terms, including additional interest of 1.5% p.a; 13.21% of the shares in the Company post its proposed EUR 20 million rights issuance; certain covenants on operations; and an option for early repayments when any assets may be sold.

The Plan together with 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 relevant creditors, is available to view on the Company's website at: www.plazacenters.com.

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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