Notification for the late submission of the Q1 2008 Consolidated Financial Results The management of Technical Olympic Group of Companies following press releases dated 19/3/2008, 24/3/2008 and 24/4/2008, regarding the late submission of the FY 2007 Consolidated financial Results, due to subsidiary TOUSA's inability to prepare its financial statements, as it has submitted for relief under the provisions of Chapter 11 of the United States Code (the "Bankruptcy Code"), informs the investment community, that due to no submission until today of the FY 2007 results, is not able to publish Q1 2008 results on time, i.e. until 31/05/2008. The company will inform further for the exact date of the publication of the above financial results.