Kalmar Structured Finance A/S, Credit Event Notice

Nordea Bank Danmark A/S, acting as the Arranger of the above mentioned issue,
has on 13 October 2009 become aware of an occurrence of a Credit Event (as
defined in the Offering Circular) concerning the following X1 Reference
Entitiy: 

Thomson SA

International Swaps and Derivatives Association (“ISDA”) announced on 12 August
that a Restructuring Credit Event had occurred in relation to Thomson SA
according to the definitions and provisions contained in Section 4.7 of the
2003 ISDA Credit Derivatives Definitions published by the International Swaps
and Derivatives Association (“ISDA”). 

This credit event notification is effective on 13 October 2009.

The Credit Event will not affect the Outstanding Principal Amount of any of the
Notes III.