The paper aims at providing a deeper insight into the issue of impact of nudity on attitudes to advertisements. Affective and cognitive reactions to display of nude advertising models were examined using the methodology of Dianoux, Linhart, and Kettnerova (2007). The study previously conducted in France, Spain, and the Check Republic was replicated in Serbia for comparability of results. Students were exposed to a folder containing a 12 page mock-up of a magazine, that included an advertisement for a mobile phone where one could see a woman showing either her face, or being topless. The evidence from Serbia reveals moderately negative attitudes toward an ad displaying a nude model with no impact on product recall, and brand recall. Affective reactions of men and women differ significantly therefore influencing their different attitudes toward ads (Aad) depending on whether a picture of nude or a not nude model is displayed.