THIS NOTICE IS IMPORTANT AND REQUIRES THE IMMEDIATE ATTENTION OF NOTEHOLDERS. IF NOTEHOLDERS ARE IN ANY DOUBT AS TO THE ACTION THEY SHOULD TAKE, THEY SHOULD SEEK THEIR OWN FINANCIAL AND LEGAL ADVICE IMMEDIATELY FROM THEIR STOCKBROKER, SOLICITOR, ACCOUNTANT OR OTHER INDEPENDENT FINANCIAL OR LEGAL ADVISER.

EXCALIBUR FUNDING NO 1 PLC

(the Issuer)

(a company with limited liability incorporated under the laws of England and Wales with

registered number 6583630)

NOTICE

to the holders (the Noteholders) of the

€2,166,541,000 Class A Notes due 2054 (the Class A Notes) and €722,181,000 Class B Notes due 2054

(the Class B Notes and, together with the Class A Notes, the Notes)

of the Issuer

presently outstanding 

NOTICE IS HEREBY GIVEN to the Noteholders pursuant to Clause 7.2(a) of the Servicing Agreement that the Trustee has received notification from Hatfield Philips International Limited in its capacity as Servicer that a Servicing Transfer Event under Clause 7.1(d) of the Servicing Agreement has occurred with respect to the following Collateral Debt Obligations: 

• Boultbee Centra Loan; 

• Landmark Senior Loan; and

• Landmark Mezzanine Loan

Pursuant to the Servicing Agreement the Servicer has also notified the Trustee that various events of default have occurred on the Landmark Senior Loan and the Landmark Mezzanine Loan (each as defined therein) and the Servicer is in discussions with the relevant borrowers. 

Capitalised terms used but not otherwise defined herein shall have the meanings given to them in or pursuant to the Trust Deed dated 23 May 2008 between, inter alios, the Issuer and the Trustee and/or the Terms and Conditions of the Notes set out therein.

If you have any questions relating to the content of this notice, please contact the Trustee as follows:

Maria Timaeva, +44 20 7174 9566, mbs.notices@bankofamerica.com

This Notice is given by

Bank of America Trustees Limited

as Trustee 

Dated: 25th  January 2010

This announcement has been issued through the Companies Announcement Service of

the Irish Stock Exchange.