The esterification of 11beta,17alpha,21-trihydroxy-6alpha-methylpregna-1,4-diene-3,20-dione (I) with triethyl orthopropionate (II) by means of pyridinium tosylate in DMF - benzene gives the corresponding cyclic diester (III), which is partially hydrolyzed with acetic acid - sodium acetate in methanol - water, yielding the 17alpha-propionyloxy derivative (IV). Finally, this compound is acetylated with acetic anhydride and pyridine.