Kardan N.V. — M&A Activity 2010

Sep 2, 2010

KARDAN SELLS 16% STAKE IN RUSSIAN BANK SOVCOM FOR EUR 36 MILLION

Amsterdam, September 2, 2010 - Kardan N.V. ("Kardan"), active in Real Estate, Financial Services and (Water) Infrastructure in emerging markets announces that it has sold 16% of Sovcom bank shares for EUR 36 million.

In a press release published by Kardan on April 9, 2010, Kardan announced that TBIF Financial Services B.V ("TBIF"), Kardan's Banking and Lending subsidiary, had received a notice from its co-shareholder in the Russian bank Sovcom, expressing its intention to exercise a call option to purchase 16% of Sovcom Bank shares from TBIF.

Kardan was informed on September 1, 2010, that the co-shareholder has transferred to TBIF the consideration for the shares to be purchased in the amount of approximately EUR 36 million. The completion of the transaction is subject to regulatory approvals.

Following the completion of the transaction, TBIF and the co-shareholder will each hold 50% of the Sovcom bank shares.

The accounting implications of the transaction are still under investigation. Based upon the positions as of June 30, 2010 Kardan is expected to record a gain. Information in respect hereof will be disclosed as soon as possible.

About Kardan

Kardan, with headquarters in Amsterdam focuses on three main fields of activities: Real Estate, Financial Services and (Water) Infrastructure. The company operates in seven segments primarily in emerging markets in Central and Eastern Europe and China, where it conducts most of its activities.

Kardan holds controlling interests in its divisions 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.

Kardan is listed on NYSE Euronext Amsterdam and the Tel-Aviv Stock Exchange.

Total assets as of June 30, 2010 amounted to EUR 6.5 billion (December 31, 2009 and June 30, 2009: EUR 5.6 billion and 5.4 billion, respectively) with revenues of EUR 400 million in H1-2010 (EUR 753 million in 2009 and EUR 353 million in H1-2009).

For further information please contact: Jan Slootweg Caroline Vogelzang Management Board member Kardan N.V. Director Investor Relations Office +31 (0)20 305 0010 +31 (0)20 305 0010 www.kardan.nl Vogelzang@kardan.nl

"This press release contains regulated information (gereglementeerde informatie) as defined in the Dutch Act on Financial Supervision (Wet op het financieel toezicht)"