Kalmar Structured Finance A/S, Secured Credit-Linked Notes IV due 2013

Nordea Bank Danmark A/S, acting as the Arranger of the above mentioned issue,
has on October 9th, 2008 become aware of an occurrence of Credit Events (as
defined in the Offering Circular) concerning the following Reference Entities: 

- Glitnir Banki Hf
- Kaupthing Bank Hf

The Reference Entities are part of the Reference Portfolio (as defined in the
Offering Circular). 

This credit event notification is effective on October 9th, 2008.