PRESS RELEASE

The Company under the name "TECHNICAL OLYMPIC S.A." (hereinafter the Company), informs the investing public that it has entered into a Co-Funding Agreement with the alternative investment manager “Pollen Street Capital”, headquartered in London, with assets under management (Assets under Management) exceeding €7 billion.

The co-funding arrangement will be implemented through debt financing of the Company’s 100% subsidiary “Premier Capital Investments S.A.”, incorporated in Luxembourg, with the participation of funds managed by “Pollen Street Capital” and “Technical Olympic S.A.”, for a total funding capacity of up to €250 million within the next 3 years.

The proceeds of the above financing will be made available to the Company’s 100% indirect subsidiary “Premier Capital Investments Greece Single Member S.A.”, incorporated in Greece and wholly owned by “Premier Capital Investments S.A.” (Luxembourg), through intra-group financing arrangements.

The purpose of the Co-Funding Agreement is the identification and exploitation of investment opportunities and the acquisition of portfolios of commercial and residential real estate assets in Greece.

The Company will inform the investing public of any material development relating to the above transaction.