Kalmar Structured Finance A/S, Redemption of 2nd Issuance of Credit Linked Notes

On behalf of the above-mentioned company please be informed that the notes
issued by the company on 3 May 2005 will be redeemed in connection with the
interest payment date 28 September 2010, which is also the scheduled maturity
date. 

As a result of the Credit Events, which has occurred earlier in this
transaction, Class D Notes II will be redeemed at a redemption price of 67.7191
equal to EUR 6,771.91 per notes of EUR 10,000. The remaining tranches Class A
Notes II, Class B1 Notes II, Class B2 Notes II and Class C Notes II will be
redeemed at a redemption price of 100. The redemption will take place on 28
September 2010.