Pursuant to the provisions of the Capital Market Commission's resolution 3/347/12.7.2005 and to par.1, article 10 of Law 3340/2005, the company TECHNICAL OLYMPIC S.A. announces that, its Board of Directors' resolution dated 6/2/2006 approved the issuance of a five-year Common Bond amounting to 20.000.000 euros. The related loan issue was executed on 7/2/2005, the bond lender being the ALPHA BANK. The purpose of the aforementioned Bond Loan is the refinancing of short-term bank loans of the company, being utilized in the financing of investment plans of its subsidiary companies.