Re: Debt rating

Plaza Centers N.V.
30 May 2007

30 May 2007


           PLAZA CENTERS AWARDED STANDARD & POOR'S A+/POSITIVE RATING
                        TO RAISE UP TO $400 MILLION OF NEW DEBT



Plaza Centers N.V. ('Plaza' or the 'Company'), a leading emerging markets
property developer with operations both in Central and Eastern Europe ('CEE')
and in India, today announces that Maalot, The Israel Securities Rating Company
Ltd. and an affiliate of Standard & Poor's Rating Services,, has approved a
rating of 'A+/positive', for Plaza to raise new debt up to the amount of US$400
million.


Plaza now has the financial flexibility to issue corporate bonds in the Israeli
Institutional Market in order to finance its continued growth, as an alternative
to raising funds through the equity markets.  In the event that the Company
decides to proceed with such an offer in the future, it anticipates that its
debentures would be linked to the Israeli Consumer Price Index, while the exact
rate of interest would be determined at tender.


As the Company's functional currency is the Euro, and if bonds are raised, the
Company intends to hedge the future obligation to correlate with the Euro.


A full copy of Maalot's report is available at http://www.plazacenters.com/
financial_reports.html.


Commenting on the approval, Ran Shtarkman, President and CEO, Plaza Centers N.V.
said:


'We are very pleased to have been rated A+/positive by Maalot, the Israeli
affiliate of Standard & Poor's and the leading recognised rating agency in
Israel. The rating demonstrates the confidence shown by a neutral international
rating agency in Plaza's performance and successful track record which has been
built up for more than ten years.



'During this period, the Company has developed and let a total of 23 shopping
and entertainment centres, and successfully sold these assets to major
international investors. With this flexibility to raise funds through the bond
markets in the future, Plaza will be well placed to bring to fruition its
constantly evolving pipeline. If the debentures are issued, we expect it to be
at a very favourable interest rate. The A+/positive rating enhances Plaza's
ability to achieve its future objectives and to further diversify and enrich the
Company's portfolio through the development of high quality shopping and
entertainment centers and other mixed used projects both in the CEE and India.'



For further details please contact:

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


Financial Dynamics
Stephanie Highett/ Dido Laurimore/ Adam Leviton     [phone]


                                                               
Notes to Editors



•         Plaza Centers N.V. (www.plazacenters.com) is a leading emerging
markets developer of shopping and entertainment centres, focusing 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 an indirect subsidiary of Elbit Medical Imaging
Ltd. ('EMIL'), 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 Centers is a member of the Europe Israel Group of companies
which is controlled by its founder, Mr Mordechay Zisser.  It has been active in
real estate development in emerging markets for over 10 years.


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