PLAZA CENTERS N.V. SHAREHOLDERS APPROVE RIGHTS OFFERING

The directors of Plaza Centers N.V. ("Plaza" or the "Company"), a leading emerging markets property developer, are pleased to announce that, at an Extraordinary General Meeting of the Company's shareholders held earlier today (28 November 2014), all proposed resolutions were passed by the required majorities.

The passing of all resolutions at the Extraordinary General Meeting means that the proposed Rights Offering, which forms part of the Company's Restructuring Plan has been approved. As stated in the announcement dated 14 October 2014, the Rights Offering will be priced at EUR 0.0675 per share.

Details regarding the proposed timetable are set out in the Appendix.]

The Company also announces that the Rights Offering is open.

The Rights Offering, on the assumption that all Shareholders exercise all their Rights, will result in 282,326,830 New Ordinary Shares being issued and the number of Ordinary Shares being increased from a total of 297,186,138 Ordinary Shares to a total of 579,512,968 Ordinary Shares (disregarding the issue of the Bondholders' Shares, the Escrow Shares and any Additional Placing Shares), representing an increase of 95 per cent.

The Placing (which will occur immediately following the Rights Offering) will, (i) result in up to 90,336,596 Bondholders' Shares being issued, 15,710,712 Escrow Shares being issued and the number of Ordinary Shares being increased from a total of 297,186,138 Ordinary Shares (as at the Record Date) to a total of 685,560,277 Ordinary Shares, representing an increase of 95 per cent.; and (ii) reduce the proportional ownership and voting interest in the Ordinary Shares of the Shareholders (as at the Record Date) by between 40.71 per cent. and 43.35 per cent. (depending upon the issuance of any Additional Placing Shares).

The defined terms set out in the Appendix apply in this announcement.

Further details of the Rights Offering, the Placing and the Additional Placing are set out in the Appendix.

Details of the Resolutions passed are set out in the Circular, which is available at www.plazacenters.com.

For further details, please contact:

Plaza

Ran Shtarkman, President and CEO

Roy Linden, CFO

Tel: +36 1 462 7221

Tel: +36 1 462 7222

SPARK Advisory Partners Limited

Mark Brady, Partner

Neil Baldwin, Partner

Tel: +44 20 3368 3551

Tel: +44 20 3368 3554

FTI Consulting

Stephanie Highett / Dido Laurimore / Claire Turvey Tel: +44 20 3727 1000

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