The management of Technical Olympic Group of Companies reports that TECHNICAL OLYMPIC USA INC. (TOUSA), its subsidiary company listed in the New York Stock Exchange, announced that its operating results for the period January 1st to December 31st 2005 increased significantly as its turnover increased to 2.461,8 million $ from 2.100,8 million $ in 2004, a 17,17% increase, its turnover from joint ventures increased to 544,1 million $ from 34,8 million $ in 2004, a 1.463% increase (namely the company reported a total turnover of 3.005,6 million $ in 2005, over 2.135,6 million $ in 2004, a 41% increase), and its net profit after taxes (ΝΙ) increased to 218,3 million $, over 119,6 million $ in 2004, a 82,53% increase. For the same period, new homes delivered totalled 9.435, compared to 7.337 in 2004, a 29% increase, and the average sales price for new homes increased to 292.000$ from 275.000$ in 2004, a 6% increase.

The total number of new home sales in 2005 was 10.623 over 9.933 in 2004, that is a 7% increase. Homes in backlog were 10.021 as of 31/12/2005, compared to 5.763 as of 31/12/2004, a 74% increase. The management of TECHNICAL OLYMPIC USA INC. (TOUSA), among others, reports: "the increase in our gross and net margins enabled us to exceed our earnings guidance for 2005, despite the difficulties caused by the unprecedented catastrophic hurricanes" and "based on our strong backlog position, we are maintaining our net income guidance for 2006 of 285 million $, a 31% increase over those reported in 2005". The President of TECHNICAL OLYMPIC USA INC. (TOUSA) and of TECHNICAL OLYMPIC Group of Companies, Konstantinos Stengos, reports: "We are very pleased with our progress in 2005. The increase in the company?s equity from 662,7 million $ to 971,3 million $, as well as the increase in our homesites from 50.000 in 2004 to 94.300 in 2005, position us well for the future, covering our needs for homesites for the next six years and lay the foundations for an exceptional 2006".

Furthermore, the prestigious financial group of UBS, in its report of 15/2/2006, retains its "buy 1" rating for TOUSA shares and at a target price of 33$, compared to NYSE's yesterday's closing price of 20,15$ per share.