UPDATE REGARDING THE PLOT IN BANGALORE, INDIA

PLAZA CENTERS N.V.

UPDATE REGARDING THE PLOT IN BANGALORE, INDIA

Plaza Centers N.V. ("Plaza" or the "Company") announces today, further to Note 6.b (1) of the Company's 2019 financial statements, regarding the draft of the Revised Master Plan-2031, under which it was proposed to change the zoning of most of the plot in Bangalore from residential to open space/ parks/recreation zone (the "Master Plan"), which if given effect would have adversely affected the development prospects on the plot; that the Master Plan has been withdrawn by the Government of Karnataka.

For further details, please contact:

Plaza

Ran Yaacovs, CFO                                                    972-546-303-006

Notes to Editors

Plaza Centers N.V. (www.plazacenters.com) is listed on the Main Board of the London Stock Exchange, as of 19 October 2007, on the Warsaw Stock Exchange (LSE: “PLAZ”, WSE: “PLZ/PLAZACNTR”) and, on the Tel Aviv Stock Exchange.