Amsterdam, March 27, 2009. Kardan, active in Real Estate, Financial Services and (water) Infrastructure in emerging markets, announces that its real estate subsidiary Globe Trade Centre S.A. (GTC SA) in Poland has not reached an agreement with Unibail Rodamco about the sale to Unibail Rodamco of 50 % of the shares in Galleria Mokotow, a shopping centre in Warsaw, Poland, due to the volatile market conditions. On 25 September 2008 a press release was issued to announce the start of these discussions. Unibail Rodamco already owns 50% of the shares in Galleria Mokotow.

About Kardan

Kardan is based in Amsterdam with a focus on three sectors: Real Estate, Financial Services and (Water) Infrastructure. The group is primarily active in emerging markets in Central and Eastern Europe and China, where it conducts most of its activities.

Kardan holds controlling interests in its main businesses and is actively involved in the definition and implementation of their strategy. Kardan has a consistent track record of creating long-term shareholder value through active management of investments in the group companies and by leveraging on its business experience, financial resources and local and international network.

Total assets per 30 September 2008 amounted to EUR 5.2 billion, with revenues including financial income of EUR 710 million in the first nine months of 2008 (first nine months 2007: EUR 545 million). The number of employees engaged by the group is approximately 16,900 as per 30 June 2008. Kardan is listed on NYSE Euronext Amsterdam and the Tel-Aviv Stock Exchange.

For further information please contact:

Jan Slootweg    

Management Board member Kardan N.V.

Office    +31 (0)20 305 0010

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