PRESS RELEASE

The Company under the name "TECHNICAL OLYMPIC S.A." (hereinafter the Company), informs the investing public of the completion of a transaction for the acquisition of control over a real estate portfolio from Piraeus Bank, under the code name “Vesta”.

The Vesta portfolio consists of 242 horizontal properties, mainly of residential character, as well as commercial properties, distributed throughout the Greek territory. The highest geographical concentration is located in Athens and Thessaloniki.

For the implementation of the transaction, a special purpose company under the name “Vesta Real Estate Exploitation S.A.” was established, in which “Premier Capital Investment Greece Single Member S.A.”, a 100% subsidiary of the Luxembourg company “Premier Capital Investments S.A.”, participates with a percentage of 80%, and “Piraeus Bank S.A.” participates with a percentage of 20%.

The total consideration of the transaction may amount to up to €32 million, while the management period of the portfolio is estimated to last approximately four (4) years.

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