  We present the first direct distance determination to a detached eclipsing
binary in M33, which was found by the DIRECT Project. Located in the OB 66
association at coordinates (alpha, delta)=(01:33:46.17,+30:44:39.9) for
J2000.0, it was one of the most suitable detached eclipsing binaries found by
DIRECT for distance determination, given its apparent magnitude and orbital
period. We obtained follow-up BV time series photometry, JHKs photometry and
optical spectroscopy from which we determined the parameters of the system. It
contains two O7 main sequence stars with masses of 33.4+/-3.5 Mo and 30.0+/-3.3
Mo and radii of 12.3+/-0.4 Ro and 8.8+/-0.3 Ro, respectively. We derive
temperatures of 37000+/-1500 K and 35600+/-1500 K. Using BVRJHKs photometry for
the flux calibration, we obtain a distance modulus of 24.92+/-0.12 mag
(964+/-54 kpc), which is ~0.3 mag longer than the Key Project distance to M33.
We discuss the implications of our result and the importance of establishing
M33 as an independent rung on the cosmological distance ladder.
