Elva Funding plc - Notice of Amendment

RNS Number:1127S
Elva Funding plc
10 April 2008

For Immediate Release

10 April 2008

IRISH STOCK EXCHANGE

COMPANY ANNOUNCEMENT

ELVA FUNDING PLC (the "Issuer")
Series 2004-5
EUR25,000,000 Class A1 Secured Credit-Linked Fixed Rate Notes due 2009
EUR57,000,000 Class A2 Secured Credit-Linked Floating Rate Notes due 2009
USD78,000,000 Class A3 Secured Credit-Linked Floating Rate Notes due 2009
EUR30,000,000 Class B1 Secured Credit-Linked Fixed Rate Notes due 2009
EUR10,000,000 Class B2 Secured Credit-Linked Floating Rate Notes due 2009
USD87,000,000 Class B3 Secured Credit-Linked Floating Rate Notes due 2009
Class A1 Notes with a Note Funding Percentage of 100%: (ISIN: XS0197670432)
Class A2 Notes with a Note Funding Percentage of 100%: (ISIN: XS0197671166)
Class A3 Notes with a Note Funding Percentage of 100%: (ISIN: XS0197671752)
Class B1 Notes with a Note Funding Percentage of 100%: (ISIN: XS0197672214)
Class B2 Notes with a Note Funding Percentage of 100%: (ISIN: XS0197673295)
Class B3 Notes with a Note Funding Percentage of 100%: (ISIN: XS0197673618)

(together, the "Notes")

Notice of amendment to the terms and conditions of the Notes

NOTICE IS HEREBY GIVEN that, with effect from 12 March 2008, the terms and
conditions of the Notes set out in each related Pricing Supplement or Applicable
Supplement, as the case may be, have been amended by the addition of the
following special condition:

"Issuer Repurchase Option

The Issuer may, provided that no Event of Default or Mandatory Redemption Event
has occurred and is continuing, agree to purchase Notes (or any of them) at any
time after consultation with the counterparty as to the unwind costs of each
Relevant Agreement (if any). For the avoidance of doubt, the Issuer is under no
obligation whatsoever to exercise its repurchase option at any time.

Upon a repurchase of the Notes, the Notes will be cancelled, a face amount of
Collateral which is proportional to the face amount of the Notes to be
repurchased shall be liquidated and a pro rata portion of each Relevant
Agreement (if any) will be terminated.

For the purposes of this Special Condition, "Relevant Agreement" shall mean any
swap agreement and/or option agreement and/or any other derivatives contract
entered into by the Issuer in connection with the issue of the Notes."

Enquiries: Ms Helen Berrill (Director of Listings)
Arthur Cox Listing Services Limited

Tel: +353 1 618 0556

E-mail: helen.berrill@arthurcox.com

This announcement has been issued through the Companies Announcement Service of

The Irish Stock Exchange.

This information is provided by RNS
The company news service from the London Stock Exchange
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