Tarragon to File to Extend Filing Date for 2007 Form 10-K

NEW YORK, NY -- (MARKET WIRE) -- 03/17/08 -- Tarragon Corporation (NASDAQ: TARR) today announced that it will file a Form 12b-25 with the Securities and Exchange Commission (SEC) for a 15-calendar day extension to file its 2007 Annual Report on Form 10-K. The extension is needed to allow additional time to complete the Company's 2007 financial statements 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 2007 and file its Form 10-K as soon as possible within the 15- 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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Contacts:

Broadgate Consultants, LLC Alan H. Oshiki (212) 232-2222 aoshiki@broadgate.com

Tarragon Corporation William S. Friedman (212) 949-5000 wfriedman@tarragoncorp.com

2008-03-17 17:36:19 0314393 MARKETWIRE