Chapel 2003-I B.V.

THIS NOTICE IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION

This notice is made pursuant to the Act on Financial Supervision (Wet op het financieel toezicht).

If you are in any doubt as to the action you should take, you are recommended to seek your own financial, legal or other advice immediately from your stockbroker, bank manager, solicitor, accountant or other appropriately authorised independent financial adviser.

CHAPEL 2003-I B.V. (the "Issuer")

Notice is hereby given with respect to notes of each of the following class(es):

euro 890,000,000 floating rate Senior Class A Asset-Backed Notes 2003 due November 2064, issue price 100 per cent. ISIN: XS 0179679328

euro 39,000,000 floating rate Mezzanine Class B Asset-Backed Notes 2003 due November 2064, issue price 100 per cent. ISIN: XS 0179679674

euro 23,500,00 floating rate Junior Class C Asset-Backed Notes 2003 due November 2064, issue price 100 per cent. ISIN: XS 0179679914

euro 47,500,000 floating rate Subordinated Class D Asset-Backed Notes 2003 due November 2064, issue price 100 per cent. ISIN: XS 0181842146

 (the "Notes" and each class of Notes, a "Class of Notes" and together the "Classes of Notes" and the holders thereof the "Noteholders")

Amsterdam, 6 November 2014

NOTICE

The Notes are backed by certain loan receivables originated by DSB Bank N.V. ("DSB"). DSB was declared bankrupt on 19 October 2009.

As made public on 4 November 2014, the Amsterdam Court of Appeal declared the collective settlement agreement in respect of the duty of care claims against DSB Bank N.V. (the “WCAM agreement”) binding. The Court set the opt-out period at 6 months as from the communication of the court order in accordance with the law. Apart from that, the contents of the WCAM agreement and the expected timeline are in conformity with what has previously been communicated to the Noteholders.  

Director

Stichting Security Trustee Chapel 2003-I

Claude Debussylaan 24

1082 MD Amsterdam

SGG Netherlands N.V.

NLsecuritisation@sgggroup.com

Notice WCAM Agreement - 6 November 2014