87TI Daneion 07-1 A

TIDM87TI

RNS Number : 0152L

Daneion 2007-1 PLC

25 July 2011

RNS ANNOUNCEMENT

DANEION 2007-1 PLC (the Issuer)

EUR1,581,500,000 Class A Asset Backed Floating Rate Notes due 2014

EUR912,500,000 Class B Asset Backed Floating Rate Notes due 2014

1. All capitalised terms used but not otherwise defined herein shall have the same meaning ascribed to them in the prospectus of the Issuer dated 21 November 2007 (the Prospectus).

2. The parties to the Series 2007-1 Swap Agreement acknowledge and agree that the economic purpose of the Series 2007-1 Swap Agreement is to provide an interest rate hedge against the possible variance between the rates of interest payable on Floating Rate Finance Charge Receivables and one month EURIBOR rates. The parties have acknowledged and agreed that the economic purpose of the Series 2007-1 Swap Agreement is not to hedge the exposure to the failure of Accountholders and Obligors to make payments on the Designated Accounts on the due dates thereof, nor to provide a currency hedge, and that the terms of the Series 2007-1 Swap Agreement as reflected prior to 22 July 2011did not address the effect of a change in the currency in which any relevant amount is denominated, paid, payable or expressed.

3. Therefore, on 22 July 2011 the parties amended the terms of the Series 2007-1 Swap Agreement such that the Calculation Agent will, subject to the paragraph 5 below, make adjustments to the relevant terms of the Series 2007-1 Swap Agreement that it determines appropriate to (i) account for a change in the currency in which any amount that is relevant to determining (whether directly or through determinations made by the Cash Manager) amounts payable under the Series 2007-1 Swap Agreement is denominated, paid, payable or expressed and (ii) reflect the economic purpose of the Series 2007-1 Swap Agreement described above (such adjustments, the Adjustments). Where the Calculation Agent is required to make such a determination it will do so in good faith and in a commercially reasonable manner.

4. The parties to the Series 2007-1 Swap Agreement have agreed that the Calculation Agent shall, prior to making the Adjustments, consult with, amongst others, the parties to the Series 2007-1 Swap Agreement by providing details as soon as reasonably practicable of the proposed Adjustments to them prior to the Effective Date (as defined below) of the Adjustments (the Notification Date) and discussing any reasonable comments or queries that the parties may have on the proposed Adjustments with them during the period from (and including) the Notification Date to (and excluding) the Effective Date (the Consultation Period). Such consultation by the Calculation Agent with the parties to the Series 2007-1 Swap Agreement during the Consultation Period shall not be binding on the Calculation Agent and the final terms of the Adjustments (including any amendments incorporated therein) will be those that the Calculation Agent determines appropriate in its sole and absolute discretion.

5. The final terms of the Adjustments (including any amendments incorporated therein) that the Calculation Agent determines appropriate will: (a) be effective on the date falling five Business Days after the Notification Date provided that where an Interest Payment Date falls within five Business Days of a Notification Date, they will be effective on the date falling one Business Day prior to such Interest Payment Date (the Effective Date); and (b) be evidenced by notice from the Calculation Agent to, amongst others, the parties to the 2007-1 Swap Agreement on the Effective Date detailing the final terms of the Adjustments (including any amendments incorporated therein) that the Calculation Agent determines appropriate.

For further information, please contact:

DANEION 2007-1 PLC Third Floor

1 King's Arms Yard

London

EC2R 7AF

Tel: +44 (0) 20 7397 3600 Fax: +44 (0) 20 7397 3601

DISCLAIMER - INTENDED ADDRESSEES

Please note that the information contained in the Prospectus may be addressed to and/or targeted at persons who are residents of particular countries (specified in the Prospectus) only and is not intended for use and should not be relied upon by any person outside these countries and/or to whom the offer contained in the Prospectus is not addressed. Prior to relying on the information contained in the Prospectus you must ascertain from the Prospectus whether or not you are part of the intended addressees of the information contained therein.

In particular, the Prospectus does not constitute an offer of securities for sale in the United States. This is not for distribution in the United States. The securities described herein have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or under any relevant securities laws of any state of the United States of America and are subject to U.S. tax law requirements. Subject to certain exceptions, the securities may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons or to persons within the United States of America, as such terms are defined in Regulation S under the Securities Act. There will be no public offering of the securities in the United States.

Your right to access this service is conditional upon complying with the above requirement.

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