Griffin Bonds II NRW A/S - transfer to the observation list


Surveillance Copenhagen

Copenhagen, 21 October 2008

Griffin Bonds II NRW A/S - transfer to the observation list

NASDAQ OMX Copenhagen A/S has transferred the ISIN code below to the observation
list today:                                                                     

ISIN Name

DK0030030192 5% Griffin II 2017

The bond has been transferred to the observation list due to the fact that      
Griffin Bonds II NRW A/S                                                        

has announced in its annual report for 2007/08 that according to the budgets for
the coming years,                                                               

the company cannot meet its obligation to pay interest for the bond and the fact
that the company's                                                              

equity is negative.

For further information, please see the Annual Report of 14 October 2008 from   
Griffin Bonds II                                                                

NRW A/S and the announcement from the Special Servicer of 20 October 2008.

For further information, please contact: Jeppe Møller Nielsen, Surveillance,    
tel. +45 33 93 33 66                                                            

E

OMX NORDIC EXCHANGE COPENHAGEN A/S. P.O. Box 1040. DK-1007 Copenhagen K.        
DENMARK. Tel. +45 33 93 33 66. Fax +45 33 77 04 89. Visiting Address: Nikolaj   
Plads 6. CBR. No. 19 04 26 77. E-mail: copenhagen@nasdaqomx.com.                
www.nasdaqomx.com

Attachments

griffin bonds - overfrsel uk.pdf