Monomeric and hydrogen-bonded ethanol molecules in internal positions of oligomers are investigated in solutions of carbon tetrachloride by ultrafast time-resolved spectroscopy. A notable lifetime shortening of the OH-stretching vibration, as a result of the existence of hydrogen bonds, is obtained from time-resolved spectroscopy: T 1 reduces from 8 ps (monomer) below 2 ps. This is accompanied by an enhanced anharmonicity of this vibration, as well as, an increasing width of the transient holes within the OH-stretching bands which are inhomogeneously broadened.