Amsterdam, August 8, 2012 – Kardan N.V. (“Kardan” or “the Company”), active in Real Estate, Water Infrastructure and Financial Services in emerging markets, announces that today the plan to purchase Kardan Debentures listed on the Tel Aviv Stock Exchange (“TASE”), up to an amount of EUR 50 million, as announced on July 12, 2012, through its subsidiary GTC Real Estate Holding B.V. (“GTC RE”) has been completed.

On December 15, 2011, Kardan announced a plan to repurchase, through its subsidiary GTC RE, debentures up to a maximum amount of EUR 50 million. On July 17, 2012, this plan was completed. In this plan the Company repurchased 252,591,895 Debentures Series A for a total amount of NIS 243 million (approximately EUR 50 million) which were represented in the Company’s financial statements as a total liability of NIS 304 million (approximately EUR 62 million).

Consecutively, on July 12, 2012, Kardan announced a new identical plan to again repurchase debentures up to a maximum amount of EUR 50 million. Today, this plan has been completed, in which Kardan has repurchased 211,945,290 Debentures Series A and 120,222,513 Debentures Series B for the total amount of NIS 245 million (approximately EUR 50 million), which were presented in the Company’s financial statements as a total liability in the amount of NIS 401 million (approximately EUR 82 million). Through the repurchases of these two plans combined, the Company has reduced the corresponding liability by NIS 705 million (approximately
EUR 144 million).
For details on all purchases please see www.kardan.nl under Media / News / Immediate Reports.