--- a/pep-0373.txt
+++ b/pep-0373.txt
@@ -18,6 +18,21 @@ Python 2.7.  The schedule primarily conc
 items.  Small features may be added up to and including the first beta
 release.  Bugs may be fixed until the final release.
 
+Update
+======
+
+The End Of Life date (EOL, sunset date) for Python 2.7 has been moved
+five years into the future, to 2020.  This decision was made to
+clarify the status of Python 2.7 and relieve worries for those users
+who cannot yet migrate to Python 3.  See also PEP 466.
+
+This declaration does not guarantee that bugfix releases will be made
+on a regular basis, but it should enable volunteers who want to
+contribute bugfixes for Python 2.7 and it should satisfy vendors who
+still have to support Python 2 for years to come.
+
+There will be no Python 2.8.
+
 
 Release Manager and Crew
 ========================
@@ -50,15 +65,16 @@ Maintenance releases
 ====================
 
 Being the last of the 2.x series, 2.7 will have an extended period of
-maintenance. The current plan is to support it for at least 5 years
+maintenance. The current plan is to support it for at least 10 years
 from the initial 2.7 release. This means there will be bugfix releases
-until 2015.
+until 2020.
 
 Planned future release dates:
 
 - 2.7.7 May 2014
 - 2.7.8 November 2014
 - 2.7.9 May 2015
+- beyond this date, releases as needed
 
 Dates of previous maintenance releases: