Mount Kellett Cap Pr - Notice

For Immediate Release

14 February 2012

IRISH STOCK EXCHANGE

COMPANY ANNOUNCEMENT

Mount Kellett Capital Partners (Ireland (Xetra: A0Q8L3 - news) ) Limited
4^th Floor, Hanover Building
Windmill Lane
Dublin 2
Ireland

(the Issuer)

EUR 600,000,000 Asset Backed Securities due 5 September 2015 (the Notes)

The Issuer announces that pursuant to an Undertaking Agreement (the Undertaking Agreement dated 7 February 2011 entered into between the Issuer, Mount Kellett Master Fund II L.P., MRC Limited, MKCP Mauritius Master Holdings Limited, Credit Suisse Securities (USA), LLC and Credit Suisse Securities (Europe (Chicago Options: ^REURUSD - news) ) Limited, the Issuer agreed, inter alia, not to directly or indirectly create, incur, assume or permit to exist any lien, mortgage, pledge, assignment, security interest, charge or similar encumbrance, lien (statutory or otherwise) or charge of any kind (including any agreement to give any of the foregoing, any conditional sale or other title retention agreement, any lease in the nature thereof and any filing of a financing statement or agreement to give security interest) and any option, trust or any other type of preferential arrangement for the purpose, or having the effect, of protecting a creditor against loss or securing the payment or performance of an obligation (Lien) on or with respect to any property or asset of any kind of the Issuer (including the Portfolio Assets purchased from time to time with the proceeds of the Notes), except certain permitted encumbrances and Liens as described in Schedule 4.1 to the Undertaking Agreement.

Unless otherwise defined herein, capitalised terms in this announcement have the same meanings as in the Trust Deed in respect of the Notes and the Undertaking Agreement.

For further information, please contact:

NAME: The Directors, Mount Kellett Capital Partners (Ireland) Limited

ADDRESS: 4^th Floor, Hanover Building, Windmill Lane, Dublin 2, Ireland

TELEPHONE NUMBER AND/OR EMAIL ADDRESS: +353 (1) 900 7920

This announcement has been issued through the Companies Announcement Service of

The Irish Stock Exchange.