Kalmar Structured Finance A/S, Secured Notes II due 2010

Nordea Bank Danmark A/S, acting as the Arranger of the above mentioned issue,
has on 31 March 2009 become aware of an occurrence of a Credit Event (as
defined in the Offering Circular) concerning the following Reference Entitiy: 

Idearc Inc. (formerly part of Verizon Global Funding Corp.)

Idearc Inc. announced on 31 March 2009 that it had filed voluntary petitions to
reorganize under Chapter 11 of the US Bankruptcy Code. Such action qualified as
Bankruptcy according to the definitions and provisions contained in Section 4.2
of the 2003 ISDA Credit Derivatives Definitions published by the International
Swaps and Derivatives Association (“ISDA”). 

This credit event notification is effective on 3 April 2009.

The Credit Event will result in a reduction of the Outstanding Principal Amount
of the Class D Notes II and hence reduce the coupons and redemption of the
Class D Notes II. The actual reduction will be published immediately after it
has been calculated.