Amsterdam, 7 June 2007 – Following the press release dated 21 February 2007, Kardan N.V. (Kardan) announces that it has successfully listed on the Tel Aviv Stock Exchange (TASE) the non-convertible debentures placed earlier with Israeli institutional investors in the amount of approximately EUR 150 million.

In connection with this listing a prospectus in Hebrew and dated May 30, 2007, has been published in Israel after a permit for the publication was received from the Israel Security Authority (ISA). An English translation of this prospectus will be made available on the Kardan website shortly for information purposes only. The non-convertible debentures will not be listed on the stock exchange of Euronext Amsterdam and have not been offered in the Netherlands.