In accordance with Regulation of the Committee of European Community no 2273/2003, article 4, par.4, LAMDA Development S.A. ("the Company") announces that according to Company Law 2190/1920, article 16, par. 5, and following the decision of the Annual General Meeting of the Shareholders of the Company dated June 23, 2006 and the Board of Directors'' resolution dated July 27, 2006 purchased own shares through the Athens Exchange Member National Securities, as follows: On October 17, 2006 the Company purchased 11.500 shares, with average cost price Euro 7,96 per share and total purchase price Euro 91.530,00.