Titan Europe 2007-1 (NHP) Limited - Irish Stock Exchange

Rule 144A Global Note directly through Euroclear and Clearstream, Luxembourg or indirectly through
organisations which are account holders in such systems. All Book-Entry Interests in the Rule 144A Global
Notes held by the Common Depository will be subject to the procedures and requirements of Euroclear and
Clearstream, Luxembourg.
Purchasers of Book-Entry Interests in a Global Note pursuant to Regulation S will hold Book-Entry
Interests in the Regulation S Global Note relating thereto. Investors may hold their Book-Entry Interests in
respect of a Regulation S Global Note directly through Euroclear or Clearstream, Luxembourg (in accordance
with the provisions set forth under “—Transfer and Transfer Restrictions” below), if they are account holders in
such systems, or indirectly through organisations which are account holders in such systems. After the
expiration of the Note Distribution Compliance Period but not earlier, Euroclear and Clearstream, Luxembourg
will hold Book-Entry Interests in each Regulation S Global Note on behalf of their account holders through
securities accounts in the respective account holders’ names on Euroclear’s and Clearstream, Luxembourg’s
respective book-entry registration and transfer systems.
Although Euroclear and Clearstream, Luxembourg have agreed to certain procedures to facilitate transfer of
Book-Entry Interests among account holders of Euroclear and Clearstream, Luxembourg, they are under no
obligation to perform or continue to perform such procedures, and such procedures may be discontinued at any
time. None of the Issuer, the Note Trustee, the Common Depository or any of their respective agents will have
any responsibility for the performance by Euroclear or Clearstream, Luxembourg or their respective participants
or account holders of their respective obligations under the rules and procedures governing their operations.
Payments on Global Notes
Payment of principal and interest on the Global Notes will be made to the registered holder thereof upon
presentation or surrender of the Global Note at the specified office of the Paying Agent. All such amounts will,
subject as provided below, be payable by a Paying Agent, in sterling. All such payments will be distributed
without deduction or withholding for any taxes, duties, assessments or other governmental charges of whatever
nature except as may be required by law. If any such deduction or withholding is required to be made, then
neither the Issuer nor any other person will be obliged to pay additional amounts in respect thereof.
In accordance with the rules and procedures for the time being of Euroclear or, as the case may be,
Clearstream, Luxembourg, after receipt of any payment from the Paying Agent, the respective systems will
promptly credit their participants’ accounts with payments in amounts proportionate to their respective
ownership of Book-Entry Interests as shown in the records of Euroclear or of Clearstream, Luxembourg. None
of the Issuer, the Note Trustee or any other agent of the Issuer or the Note Trustee will have any responsibility
or liability for any aspect of the records relating to or payments made on account of a participant’s ownership of
Book-Entry Interests or for maintaining, supervising or reviewing any records relating to a participant’s
ownership of Book-Entry Interests.
A record of each payment made on a Global Note, distinguishing between any payment of principal and/or
payment of interest, will be recorded in the Register in respect of such Global Note by the Registrar and such
record shall be prima facie evidence that the payment in question has been made.
Euroclear and Clearstream, Luxembourg
Euroclear and Clearstream, Luxembourg have informed the Issuer as follows:
Euroclear and Clearstream, Luxembourg each hold securities for the accountholders and facilitate the
clearance and settlement of securities transactions by electronic book-entry transfer between their respective
accountholders, thereby eliminating the need for physical movements of certificates and any risk from lack of
simultaneous transfers of securities.
Euroclear and Clearstream, Luxembourg each provide various services including safekeeping,
administration, clearance and settlement of internationally traded securities and securities lending and
borrowing. Euroclear and Clearstream, Luxembourg each also deal with domestic securities markets in several
countries through established depository and custodial relationships. The respective systems of Euroclear and of
Clearstream, Luxembourg have established an electronic bridge between their two systems across which their
respective accountholders may settle trades with each other.
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