TECHNICAL OLYMPIC S.A.

Notification for the late submission of the FY 2007 Consolidated Financial

Technical Olympic' s Group management following the as of 19/3/2008 and 24/3/2008 press releases, regarding the late submission for one month of FY 2007 Consolidated Financial Results, i.e. on 30/4/2008, informs the investing community that following latest information from our subsidiary TOUSA Inc finance office, the subsidiary is unable to finalise the above financial statements and consequently cannot determine specific date for their official release. Consequently our Company is forced to revise our last press release and states that as soon as TOUSA Inc financial statements are available will release the exact date of the publication of the FY 2007 financial results.