The company TECHNICAL OLYMPIC S.A discloses, that on the 29th June of 2006, the Ordinary Annual Assembly of its shareholders took place in Athens. At the Assembly, with a 45,958% quorum percentage of the company's shareholders' capital, by the participated 121 shareholders, representatives have been approved the following:
a) The financial statements of the company for the period 1/1/2005-12/31/2005, as well as the dividend's distribution from the profits of 2005, of a total amount of 2.650.000 euros (0,02 euros per share). Eligible for the receipt of the above dividend are the company's shareholders during the closing of the Stock Exchange's conference of the 6/30/2006. Consequently, since Monday, 3 July 2006, the company's shares will be traded in the Stock Exchange without the right of receipt of the above dividend. The 11th July 2006 has been set as an opening date for the payment of the dividend to the shareholders. The payment of the dividend will be realized for the whole country through the branches of the EFG Eurobank Ergasias (First subject).
b) The exemption of the Board of Directors' members and of the auditor, of any responsibility of redemption, regarding the actions taken, the management and the annual financial statements for the use of 2005 (second subject).
c) The election of the auditor company GRANT THRONTON for the needs of auditing the fiscal year 2006 (third subject).
d) The election of the new Board of Directors of the company, with a three-year service (forth subject). The composition of the twelve members of the new Board of Directors, after its constitution, at the same day, constitution, has as follows:
A. EXECUTIVE MEMBERS OF THE BOARD OF DIRECTORS:
Konstantinos A. Stengos, Civil Engineer-Contractor of Public Works, Chairman of the Board of Directors
Andreas K. Stengos, Civil Engineer - Contractor of Public Works, Executive Vice-President and General Manager
George K. Stengos, Mechanical Engineer- Contractor of Public Works, Managing Director
Zoe, wife of Konstantinos Stengos, Topographer Engineer - Contractor of Public Works, member
Maria G. Svoli, Technician, member Konstantinos Pl. Rizopoulos, Economist - Contractor of Public Works, member
Elias K. Koukoutsis, Civil Engineer - Contractor of Public Works, member
B. NON EXECUTIVE MEMBERS OF THE BOARD OF DIRECTORS:
Styliani K. Stengou, Civil Engineer - Contractor of Public Works, member
Marianna K. Stengou, Civil Engineer- Contractor of Public Works, member
C. INDEPENDENT (NON EXECUTIVE) MEMBERS:
Athanasios N. Klapadakis, Civil Engineer - Contractor of Public Works, member
Alexandros D. Papaioannou, Mechanical Engineer - Contractor of Public Works, member
e) The provision of licence, as per the article 23 paragraph 1 of the Law 2190/1920, to the members of the Board of Directors or to directors, to participate in Boards of Directors, or in the administration of companies seeking similar to the company's goals or to exercise, for their own account, actions that come within the company's aims. f) The special approval, as per the articles 23a paragraph 2 and 24 of the Law 2190/1920, for the conclusion of contracts between the company and members of the Board of Directors, regarding the payment of any kind salaries and benefits to members of the Board of Directors or their relatives, as well as the conclusion of contracts with founders of the companies or companies of their own share interest regarding the shares' purchase (sixth subject). The decisions for the seventh subject of the daily schedule "Delegation of power of the General Assembly, according to the article 3a paragraph 1b of the Law 2190/1920 (and to the article paragraph 13 of the deed of partnership), to the Board of Directors of the company for the issuance of Convertible Bond Loan", because of the occurred lack of the quorum required by the law for its discussion, will be taken in a Repetitive General Assembly, that, with a decision of the Board of Directors of the company, was set to be realized at 7/12/2006.