Kalmar Structured Finance A/S, Calculation of Final Price Notice

Class D Notes III Outstanding Principal Amount Reduction Notice

Following the Credit Event of Tribune Company informed to Noteholders 9th
December 2008; Nordea Bank Danmark A/S as Calculation Agent of the Notes III
has calculated the Final Price for the mentioned entity according to the
Offering Circular of the Notes III. As a result; 

(i) the Final Price is equal to 4%. The Final Price reflects the highest of the
quotes received by the Calculation Agent on each Valuation Date (25th March
2009). 

(ii) the Cash Settlement Amount is equal to EUR 1,689,600.

(iii) pursuant to the calculation of the Cash Settlement Amount the Outstanding
Principal Amount of the Class D Notes III is reduced by EUR 1,689,600 on 8th
April 2009. Following the reduction the new Outstanding Principal Amount of the
Class D Notes III is equal to EUR 4,250,400 and each Class D Notes III will
have a face value of EUR 715.5556. Interest will be calculated on the new
Outstanding Principal Amount from 8th April 2009.