Tarragon to File to Extend Filing Date for First Quarter 2008 Form 10-Q

Tarragon Corporation (NASDAQ: TARR) today announced that it will file a Form 12b-25 with the Securities and Exchange Commission (SEC) for a 5-calendar day extension to file its First Quarter 2008 Quarterly Report on Form 10-Q. The extension is needed to allow additional time to complete the Company's financial statements for the first quarter of 2008 for the reasons to be set forth in the Form 12b-25 filing. The Company intends to complete its financial statements, distribute a press release regarding its financial results for the first quarter of 2008 and file its Form 10-Q as soon as possible within the 5-day extension period.

About Tarragon Corporation

Tarragon Corporation is a leading developer of multifamily housing for rent and for sale. Tarragon's operations are concentrated in the Northeast, Florida, Texas and Tennessee. To learn more about Tarragon Corporation, visit: www.tarragoncorp.com.

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