OFFERING CIRCULAR SUPPLEMENT CLARIS LIMITED as Issuer ...

Governing law: Dutch law
Rating: Aaa, AAA and AAA by Moody’s, S&P
and Fitch, respectively
Listing: Euronext Amsterdam
Nominal Amount: EUR 25,000,000 as at the
Issue Date
Issue Amount: EUR 2,000,000,000
Put Option/Call Option: Not applicable
Early Redemption for taxation reasons:
Applicable
The Securities shall be transferred from Société
Générale as vendor (in such capacity, the
“Vendor”) to the Issuer pursuant to a sale
agreement to be dated on or around 7 February
2006 (the “Sale Agreement”).
The Securities issuer currently publishes semiannual
interim accounts in addition to the annual
report.
The most recently published annual and interim
reports in respect of the Securities issuer, the
ISDA Agreement and the Sale Agreement may
be obtained, free of charge, at the office of the
Paying Agent in Dublin during normal business
hours so long as any Notes are outstanding.
(ii) Security (order of priorities): The Trustee shall apply all moneys received by it
under the Trust Deed in connection with the
realisation or enforcement of the Security
constituted by the Trust Deed in the following
order of priorities:
(i)
(ii)
(iii)
Firstly, in payment or satisfaction of
fees, costs, charges, expenses and
liabilities incurred by the Trustee or any
receiver in preparing and executing the
trusts under the Principal Trust Deed and
the Supplemental Trust Deed (including
any taxes required to be paid, the costs
of realising any Security and the
Trustee’s remuneration);
Secondly, in payment or satisfaction of
fees, costs, charges, expenses and
liabilities incurred by the Portfolio
Administrator in performing its
obligations under the Portfolio
Administration Agreement;
Thirdly, (except where the Notes have
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