The company TECHNICAL OLYMPIC S.A discloses that, on the 25th of July 2006, the Second Repetitive General Assembly of its shareholders took place, with a quorum percentage of 40,80% of its share capital. With a percentage of 99,25% of the represented share capital, the General Assembly has decided to delegate the power to the Board of Directors of the company (for a period of five years, that is until the 25th of July, 2011) according to the article 3a paragraph 1b of the Law 2190/1920, the possibility to issue a convertible bond loan.