Press release Delphinus 2003 I B.V.
To the Noteholders of Delphinus 2003-I B.V. (the “Issuer”)
The Issuer has been informed by Fortis Bank Nederland (“Fortis Bank”) that Fortis Bank will not repurchase Mortgages Receivables underlying the Notes issued by the Issuer, and that Fortis Bank is to present alternatives to investors.
The First Optional Redemption Date (“FORD”) for these Notes will be 26 October 2009. The Issuer hereby announces that these Notes will not be redeemed at the FORD.
The Issuer has, in accordance with the Transaction Documentation, the right to sell and assign the Mortgage Receivables to a third party on any Optional Redemption Date, provided the proceeds of such sale, to the extent relating to principal, shall be applied to redeem the (relevant) Notes. The Issuer shall give notice of redemption of the (relevant) Notes if and when the sale of the Mortgage Receivables will be realized on any (future) Optional Redemption Date.
Amsterdam , 25 September 2009
ATC Management B.V.
Director of Delphinus 2003-I B.V.