Potential bond offering

Plaza Centers N.V.
13 December 2007



PLAZA CENTERS N.V. ANNOUNCES BOARD APPROVAL OF THE FILING OF A DRAFT PROSPECTUS
                      WITH THE ISRAEL SECURITIES AUTHORITY



TEL AVIV, Israel - December 13, 2007 - Plaza Centers N.V. ('Plaza' or the 
'Company'), a leading emerging markets property developer, today announces that
its board of Directors has authorized the filing of a draft prospectus with the
Israeli Securities Authority ('ISA') and the Tel Aviv Stock Exchange ('TASE') in
connection with a potential offering to the public in Israel of unsecured
non-convertible Series B Notes ('Series B Notes') and its listing in the TASE.
The prospectus will also be used to list for trade on the Tel Aviv Stock
Exchange of approximately New Israeli Shekels ('NIS') 305 million (approximately
EUR 53.3 Million) unsecured non-convertible Series A Notes issued by Plaza to
investors in Israel in a private transaction in July 2007 ('Series A Notes').
The Series A Notes bear an annual interest rate of 5%, which will be reduced to
4.5% once they are listed for trade on the TASE.

No final decision on either the offering of Series B Notes or the listing of
Series A Notes and Series B Notes has been made and any offering is subject to
the final approval of Plaza's board of Directors and to the publishing of a
final prospectus and its approval by the ISA.

Should an offering of Series B Notes be made, it will be made to persons in
Israel only.

Ran Shtarkman, President and CEO of Plaza Centers N.V said:

'The contemplated issuance of these Series B Notes is being made in order to
finance our development plans. This flexible approach to financing provides us
with the firepower to drive our ongoing development programme, ensuring that the
Company can act swiftly upon investment opportunities in the Company's target
market.'



For further details, please contact:

Plaza Centers
Mordechay Zisser, Executive Chairman                            [phone]
Ran Shtarkman, President and CEO                                 [phone]
Roy Linden, CFO                                                  [phone]

Financial Dynamics                                             [phone]
Stephanie Highett / Laurence Jones



Notes to Editors

Plaza Centers N.V. (www.plazacenters.com) is a leading emerging markets
developer of shopping and entertainment centres. 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.('EIL'), 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.

Plaza is a member of the Europe Israel Group of companies which is controlled by
its founder, Mr. Mordechay Zisser. It has undertaken real estate development in
emerging markets for more than 11 years.



                      This information is provided by RNS
            The company news service from the London Stock Exchange                    A