The company TECHNICAL OLYMPIC S.A discloses, that today, the 25th of July of 2006, the Second Repetitive General Assembly of its shareholders took place, with the one following subject for discussion: "Delegation of power of the General Assembly, according to the article 3a paragraph 1b of the Law 2190/1920 (and to the article 6 paragraph 13 of the deed of partnership), to the Board of Directors of the company for the issuance of Convertible Bond Loan". During the above Assembly, with a quorum percentage of 40,80% of the company's shareholders' capital, by the participation of 43 of its shareholders, has been taken the majority decision (with a percentage of 99,25% of the Assembly's votes) of the delegation of the above power of the General Assembly to the Board of Directors of the above company, for a period of time of five years (that is, until the 25th of July of 2011), as provided by the law.