TERMS OF THE BONDS The Terms of the Bonds (the “Terms of the Bonds”), established pursuant to the Bond Purchase Agreement (the “Agreement”) concluded as of July 1, 2005 between The Hellenic Republic (the “Borrower”), on the first part, and

TERMS OF THE BONDS
The Terms of the Bonds (the “Terms of the Bonds”), established pursuant to the Bond Purchase Agreement (the
“Agreement”) concluded as of July 1, 2005 between The Hellenic Republic (the “Borrower”), on the first part, and
Credit Suisse, acting through its division Credit Suisse First Boston (“CSFB”) and other banks mentioned therein
(hereinafter called the “Syndicate Banks”), on the second part, by virtue of which Swiss Francs (“CHF”)
650,000,000 (six hundred and fifty million) 21⁄8% Bonds (the “Bonds”) 2005–2013 of the Borrower are constituted,
are as follows:
1. Amount / Form of Bond / Denomination / Custodianship / Printing and Delivery of the
Bonds and Coupons
a) The Bonds are issued in the initial aggregate principal amount of CHF 650,000,000 (six hundred fifty
million). The Borrower reserves the right to reopen (the “Reopening”) and increase the aggregate principal
amount of the bond-issue (the “Bond Issue”) at any time and without prior consultation of or permission
of the holders of the Bonds (the “Bondholders”) through the issuance of further bonds which
will be fungible with the Bonds (i.e. identical especially in respect of the Terms of the Bonds, security
number, final maturity and interest rate).
At the time of subscribing to a Reopening, a subscriber shall pay the Borrower an amount equal to the
interest accrued during the period from the Interest Payment Date (as defined below) immediately preceding
the date of the Reopening or, if the Reopening is effected prior to the first Interest Payment Date,
the Closing Date (as defined below) to the date of such Reopening on each Bond it has subscribed to