FOREIGN HOLDERS OF GREEK BONDS IN RELATION TO THE PSI BOND EXCHANGE

On 24 February 2012, the Greek Government issued an invitation memorandum for holders of domestic and foreign law bonds issued or guaranteed by the Hellenic Republic, to exchange their bonds with new bonds with a new maturity date and of new value, the Private Sector Initiative (PSI). Papapolitis & Papapolitis acted as Greek Counsel to foreign holders of Greek bonds, such as the Baupost Group, in their participation in the PSI and the invitation of the Greek Government.