We have one tree in which the leaves started to discolour from the tips and it is now very sorry for itself with defoliation.  Noticed today a second one with ditto in some of its adjacent branches.  Anyone any ideas why/what/how to treat?

Are they newly planted trees or established ones ?   One of the causes could be a root fungus called Verticillium Wilt.  There was a lot of it about last year and it killed about thirty of my ninety two newly planted trees.  The symptoms are discolouring leaves which then crisp and drop off.  The branches then start to turn brown.  This is caused by the tree trying to defend itself against the attack by sealing off the water bearing tissues so dieback is from the top down.  You can read about it here.
http://apps.rhs.org.uk/advicesearch/profile.aspx?PID=255
There is no know chemical control but although the article suggests uprooting and dicarding the plant, I've had some success with removing the dead branches below the brown bit i.e. cut through the green bit below.  Do follow the hygiene instructions though and use sharp secateurs and disinfect them between cuts with alcohol (from the farmacia) or even vodka (probably cheaper.)  I'm no expert, just passing on my experience.  You might be as well asking advice at you local co-operative.

Many tks for that - unhappily the second tree to be infected is as old as the first and right outside our kitchn door; it couldn't be worse.  Perhaps I need to check to see if it'smore widespread but to answer your question, these trees are very old.

Have you tried urinating on the roots thats a good fungiside

It would have to be a very big wee as the roots can go down over 15 metres.
Olive trees do lose their leaves during the year, so are you sure its not just natural shedding?

I agree that you'd need the output of a cowshed to produce enough pee (assuming Hazlenut knows what he's talking about and as far as I know the jury's out on that :-)  I would also doubt that the average olive root goes down 15 metres.  More like one metre.  Olives are evergreens and I've never seen them shed their leaves.  
Anyway Colin, you say the trees are close to the house.  Have you done any building work lately.  I was wondering if cement etc. could have washed into the soil.  Do you prune and water them at all ?
Like I said, I'm not an expert.  Probably best to get a local guy to look at them.