TECHNICAL OLYMPIC S.A.

Comment on Recent Press Article

An article published in the newspaper Press Time on 20/2/2006 (page 21), under the title "Greek companies are under foreign ownership " Offshore colossuses own more than 40% of the FTSE-20 shares at Sofokleous", contains a table showing the percentages held by foreign investors on the share capital of big listed companies. This table also includes our company TECHNICAL OLYMPIC S.A. However, our compan's percentage held by foreign institutional investors, is inaccurately reported to be 10,03%, instead the correct one is 32,45% of its share capital.