MINISTRY OF FINANCE
PRESS RELEASE FOR IMMEDIATE RELEASE
23 March 2012
Athens. Greece: The Hellenic Republic today announced that it has decided to extend
until 9:00 p.m. (C.E.T.) on 4 April 2012 the expiration deadline for holders of each series of its
bonds issued under laws other than Greek law and of bonds issued by state enterprises and
guaranteed by the Republic to offer to exchange their bonds in response to the invitations
announced by the Republic on 24 February 2012. Accordingly, the period for submission of
participation instructions to tender bonds for exchange pursuant to the invitations with respect
to the bonds identified as Foreign Law Republic Titles, Foreign Law Guaranteed Titles,
Republic Titles and Guaranteed Titles in the relevant invitation memorandum has been
extended until 9:00 p.m. (C.E.T.) on 4 April 2012 (which will become the "Expiration Deadline"
for purposes of submitting participation instructions to offer to exchange those securities
pursuant to such invitations). However, holders of such bonds will not have the right to
revoke any participation instructions previously submitted, unless otherwise permitted
pursuant to the relevant invitation.
In addition, the Republic announced that it reserves the right, in its discretion, to
adjourn any of the bondholders’ meetings convened to vote on the proposed amendments in
accordance with the terms of the relevant series of bonds. In such case, holders of bonds of
any series that have submitted a participation instruction prior to such adjournment will not be
required to submit a new participation instruction. In the event that the bondholders’ meeting
with respect to one or more series of Foreign Law Republic Titles and Foreign Law
Guaranteed Titles is adjourned, the Republic will announce a new settlement date for such
series of bonds. The invitations for all other series of Foreign Law Republic Titles, Foreign
Law Guaranteed Titles, Guaranteed Titles, Republic Titles and Guaranteed Titles in Physical
Form will settle on 11 April 2012.
The Republic emphasized that it has, from the outset, advised its creditors that its
economic programme does not contemplate the availability o f funds to make payments to
private creditors that decline to participate in PSI in excess of the amounts they would have
Deutsche Bank AG, London Branch, and HSBC Bank pic act as closing agents for the
invitations made outside the United States, and Bondholder Communications Group LLC and
Hellenic Exchanges, S.A. act as the joint Information, Exchange and Tabulation Agent.
The full terms of each invitation have been made available in electronic form only
through www.qreekbonds.gr. In order to participate in an invitation, holders must comply with
the procedures and offer and distribution restrictions described in the Republic’s related
invitation memorandum available online at www.qreekbonds.gr. The Republic reserves the
right at its option and its sole discretion at any time before acceptance by it of any securities
subject to the invitations to extend the deadline for, re-open or amend any invitation for any
series of securities subject to the invitations, delay the acceptance of any participation
instructions or withdraw any invitation.