Technical Olympic S.A. today released financial results for the third quarter ended September 30, 2005. Consolidated revenues for the Group during the first nine months of 2005 reached euro 1,548.4 million compared to euro 1,219.2 million in 2004, an increase of 26.7%. Earnings before taxes (EBT) increased 85.7% to euro 188.5 million from euro 101.5 million and Net Income (NI) for the same period reached euro 77.5 million compared to euro 52.7 million in 2004, a 47% increase. Revenues and earnings before taxes (EBT) for the parent company amounted to euro 707 thousands and euro 3.7 million for the first nine months of 2005 compared to euro 16.3 million and euro -3.8 million in 2004 respectively. Regarding the financial results of Technical Olympic S.A. subsidiary, construction company Mochlos S.A., the consolidated revenues for the first nine months of 2005 reached euro 246.2 million compared to euro 278.0 million in 2004, a decrease of 11.4%, earnings after taxes and minorities for the same period decreased by 55.1% to euro 4.4 million from euro 9.8 million in 2004. Revenues and earnings before taxes (EBT) for the parent company amounted to euro 245.8 million and euro 4.5 million for the first nine months of 2005 compared to euro 270.0 million and euro 10.1million in 2004, a decrease of 8.9% and 55.4% respectively.