Windermere XIV CMBS (IRSH)

THIS NOTICE IS IMPORTANT AND REQUIRES THE IMMEDIATE ATTENTION OF CLASS A NOTEHOLDERS.  IF CLASS A NOTEHOLDERS ARE IN ANY DOUBT AS TO THE ACTION THEY SHOULD TAKE, THEY SHOULD CONSULT THEIR OWN INDEPENDENT PROFESSIONAL ADVISERS AUTHORISED UNDER THE FINANCIAL SERVICES AND MARKETS ACT 2000 IMMEDIATELY.

WINDERMERE XIV CMBS LIMITED

(the Issuer)

(Incorporated in Ireland with limited liability

under the laws of Ireland with registered number 439978)

NOTICE

of the holders of those of the outstanding

€836,430,000

CLASS A COMMERCIAL MORTGAGE-BACKED NOTES DUE 2018

of the Issuer

(the Class A Noteholders and the Class A Notes respectively).

NOTICE IS HEREBY GIVEN to the holders of the above Notes that, at the Meeting of such holders convened by the notice delivered to the Company Announcements Office of the Irish Stock Exchange and to the relevant clearing systems on 20 December 2012 (the Notice of the Meeting) and held on 11 January 2013, the Extraordinary Resolution set out in the Notice of the Meeting was not duly passed. 

This Notice is given by

U.S. Bank Trustees Limited

Dated 11 January 2013

This announcement has been issued through the Companies Announcement Service of

the Irish Stock Exchange.