The management of TECHNICAL OLYMPIC Group, announces that its USA subsidiary TECHNICAL OLYMPIC USA INC. (TOUSA), listed in NYSE, on April 5, 2006, after issuing a letter of intent for entering a senior notes agreement of $250 million, issued on that same day such loan and set the interest rate for the full loan, with a maturity date on April 2011, with an interest rate of 8,25%. According to SEC regulations, no prior approval by the stock exchange authorities is required.

The purpose of the above issued loan is the payment of short-term banking liabilities of 'revolving line of credit' as well as the payment of other TOUSA requirements.

The above loan, pursuant to the applicable provisions of the USA SEC, was offered to investors outside the United States of America, without any approval by the USA stock exchange authorities being required.

In no case does the present announcement constitute an offer or invitation for the sale of the above loan.