TECHNICAL OLYMPIC GROUP΄s management informs the investment community that its subsidiary TOUSA Inc. announced on 27/12/2007, that Effective December 21, 2007, George Yeonas was appointed Executive Vice President -Chief Operating Officer, Homebuilding Operations of TOUSA, Inc. Mr. Yeonas became an Executive Vice President of the TOUSA's subsidiary TOUSA Homes, Inc. in May 2005. Between November 2004 and May 2005, Mr. Yeonas provided consulting services to the Company. Prior to joining TOUSA, Mr. Yeonas held several managerial and administration positions in various significant companies. Mr. Yeonas and the Company have agreed to a compensation package consisting of a base annual salary of $750,000.
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.