THIS NOTICE IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION

Xelo III Public Limited Company

AIB International Centre

IFSC

Dublin 1

Ireland

(the "Issuer")

Series 2005 (Firecrest 12) DKK 1,511,376,900 Secured Limited Recourse Credit-Linked Notes due 20 December 2012, ISIN: XS0231691006(the "Notes")

DKK 8,460,000 nominal amount of the Notes was repurchased by the Issuer on 15 June 2012. The nominal amount of the Notes has therefore been reduced to DKK 401,936,900.

This Notice is given by XELO III Public Limited Company

Dated: 15 June 2012

Contact

Simmons & Simmons LLP

Attention: Arijit Tiwari

+44 (0)20 7825 4091