England coach Andy Flower says Kevin Pietersen's international future will be resolved in the next 36 hours.
Pietersen hasn't played for England since being dropped for the third test against South Africa in August and was omitted for the T20 World Cup and the test series with India this winter.
The 32-year-old has been in exile since allegedly exchanging text messages with members of the South African team during the summer test series, concerning then-captain Andrew Strauss.
"The situation is on-going and I think it's nearing an end now, hopefully in a positive way," Flower said.
"There has been a lot of formal communication between the ECB and Kevin and there will be a news conference, I imagine, in the next 36 hours that will enlighten you a little further."
The England and Wales cricket board have undergone numerous talks with Pietersen since his omission from the test squad and a resolution is expected in the coming days.
A public apology is expected to follow the announcement of a renewed central contract for Pietersen, whose return, while it won't see him play in India this winter, will be a welcome boost to the England dressing room.
While England lost the test series with South Africa, and subsequently their world No.1 test ranking, Pietersen's absence was felt during the country's T20 World Cup campaign, where they won just two of their five matches as they crashed out at the Super Eight stage.
During their World Cup win in the West Indies in 2010, Pietersen won the player of the tournament award and was a pivot of England's batting line up, which has failed to deal with changing conditions in the sub-continent during the current tournament.
"We probably lacked a little experience - certainly in the batting department," Flower added.
"But some of the guys acquitted themselves very well, (Alex) Hales at certain times, Luke Wright was superb, (Eoin) Morgan was at times and yesterday we saw (Samit) Patel given one chance up the order and he showed skill against the spin. So these guys do have great futures ahead of them."
Captain Stuart Broad said: "Ten minutes after the game, you're obviously really disappointed. You can look at the missed opportunities, but I think throughout the whole tournament we've not quite been good enough.
"It's very disappointing to have gone out, because I believe we do have the firepower in that changing room to go far. Coming to the ground today, knowing you win three games and you win a World Cup, you're not that far away. It's frustratingly close."