Sixty years after Georgi Mihailov's book aeLa langue des inscriptions grecques en Bulgarie', this updated phonology of the Greek inscriptions in Bulgaria (nowadays by almost sixth times more than the inscriptions referred to in Mihailov's grammar of 1943) describes the main characteristics of the phonemic system of Greek as reflected in the lapidary epigraphic monuments of Bulgaria in the period from the 6th c.B.C. to the 4th c.A.D., traces the leading trends and the intermediate steps of its alterations and the graphemic means of their indication, and last, but not least determines its specific features.