The management of TECHNICAL OLYMPIC Group of Companies informs the investors that its subsidiary Technical Olympic USA Inc. ("TOUSA"), informed the U.S. Securities and Exchange Commission (SEC) on March 18, 2008 submitting 12b-25 Form, that TOUSA is not able to publish its FY 2007 financial results until April 1, 2008, due to the filing of voluntary petitions in the United States Bankruptcy Court seeking relief under the provisions of Chapter 11 of Title 11 of the United States Code (the "Bankruptcy Code") and the time consuming re-organization procedure. Additionally, TOUSA informed that it will release its FY 2007 financial statements after the 1st of April 2008, as soon as possible.
More information is available at the website of the US Securities and Exchange Commission, www.sec.gov as well as at the website of the subsidiary company, www.tousa.com.